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

Volume 18, Issue 10


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This Heads Up 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).

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