This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Heads Up — Implementation Issues Related to FASB’s Guidance on Deferred Acquisition Costs

Published on: Apr 28, 2011

This issue addresses implementation issues that have arisen regarding implementation of FASB Accounting Standards Update No. 2010-26, Accounting for Costs Associated With Originating or Renewing Service Contracts. The ASU amends the guidance for insurance entities that apply the industry-specific guidance in ASC 944-30, which requires deferral and subsequent amortization of certain costs incurred during the acquisition of new or renewal insurance contracts. These costs are commonly referred to as deferred acquisition costs (DAC).


Related Topics

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.