Insurance Accounting

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Level: Intermediate

Why you need this course:
After completing this course, you'll be able to understand the differences between GAAP and SAP and how those differences reflect financial performance.

Upon successful completion of this course, you should be able to:

  • Describe the several assumptions and principles on which GAAP is based
  • Explain why SAP applies conservative valuation rules for balance sheet items
  • Identify the differences and similarities among GAAP and SAP
  • Describe financial losses according to SAP
  • Describe financial losses and LAE reserves according to SAP
  • Describe how premiums are reported according to SAP
  • Explain the limitations of accounting and financial statements

Cost: $20 per Professional Development Hour (PDH). Information on Professional Development Hours (PDH) provided can be found here.

Insurance Accounting Topics Include:

  • Generally accepted accounting principles (GAAP)
  • Statutory accounting principles (SAP)
  • GAAP versus SAP
  • SAP accounting: losses
  • SAP accounting: loss and LAE reserves
  • SAP accounting: premiums
  • Limitations of accounting and financial statements

Phone: (800) 644-2101 (U.S. and Canada)
(610) 644-2100 (Outside the U.S. and Canada)
Fax: (610) 640-9576
Mail: The Institutes
720 Providence Road
Suite 100
Malvern, PA 19355-3433
Customer Success is available Monday through Friday, 8 a.m. to 6 p.m. eastern time.

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Phone: (800) 644-2101

Customer Service hours are Monday through Friday, 8:00 a.m. to 6:00 p.m. eastern time.

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