accounting rules News

Global Insurance Accounting Rules Under IFRS17 to Be Amended

An international standard setting body has proposed a one-year delay and changes to the first global accounting rule for insurance contracts following industry calls for a cut in compliance costs and more time. The International Accounting Standards Board (IASB) published …

New Global Insurance Accounting Rule Could Be Delayed One Year

A global standards body has proposed a one-year delay to implementing its new accounting rule aimed at increasing visibility in how insurers earn money, after the industry said it needed more time to prepare for such a sweeping change. A …

New Accounting Rule Could Serve Up Surprises at Buffet’s Berkshire Annual Meet

Berkshire Hathaway Inc. investors should get ready for a bumpy ride. Warren Buffett’s company is scheduled to report earnings Saturday morning before its annual meeting, and a new accounting rule could sink results. Berkshire is now required to report unrealized …

Ebix, Goldman Sachs Terminate Merger Agreement Amid Probe

Ebix Inc., a supplier of software and E-commerce services to the insurance industry, announced that it and an affiliate of Goldman, Sachs & Co. have agreed to terminate their previously announced merger agreement. The merger agreement, announced on May 1, …

Accounting Rules to Hurt Insurers’ Ratios But Not Ratings: Moody’s

New accounting rules intended to align U.S. insurers’ varied approaches to accounting for deferred acquisition costs (DAC) will negatively affect insurers’ reported equity and some of the financial metrics that the companies report, but will have no direct effect on …