The use of Treasury Inflation-Protected Securities (TIPS) has become increasingly popular among insurance companies in recent years. TIPS are a special kind of security issued by the United States Treasury Department. In an inflationary economy, investors are weary to invest and loose principal par value on a long-term investment. TIPS provide protection for those who have such fears.
Following ten years of off-and-on deliberations, the Financial Accounting Standards Board (FASB or the Board) has issued a final promulgation in the accounting for long-duration insurance contracts. The promulgation is effective for calendar-year public companies in 2021 and non-public entities in 2022.
Income Statement-Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income Reading time: 1 minute 5 seconds On December 22, 2017, the Tax Cuts and Jobs Act was enacted, reducing the federal income tax … Continued
ASU No. 2015-06 standardizes the calculation of historical earnings per share related to dropdown transactions for Master Limited Partnerships (MLPs), partnerships where interests are publically traded. The issue was not addressed in Topic 260 Earnings Per Share and so in practice, there are a variety of methods being used; ASU No. 2015-06 should eliminate the variety.