Insurance Contracts with Cash Surrender Value – NFPAC
Date recorded:
At its meeting on May 2, 2023, the Not-for-Profit Advisory Committee (NFPAC) provided feedback on potential solutions to provide guidance on the recognition, measurement, and presentation of insurance contracts with cash surrender value. The Committee also discussed the disclosures that would provide decision-useful information. In addition, the Committee discussed the accounting options for contributions of life insurance policies with cash surrender value received by NFPOs. The AcSB will consider the feedback from the NFPAC at its June 2023 meeting.
Review the summary of discussions on the AcSB's Web site.