ASU 2018-12 implementation: Benefiting from the FASB extension has been saved
ASU 2018-12 implementation: Benefiting from the FASB extension
November 8 | 12 p.m. ET
The FASB has proposed extending the effective date for its Accounting Standards Update (ASU) 2018-12, Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI), standard to 2022 for public entities and to 2023 for private and mutual companies. How can insurers take advantage of the extra time FASB has provided? We'll discuss:
- A review of FASB expectations concerning the pace of implementation.
- Considerations for optimizing the extended time frame.
- How to determine where to invest strategically so day two issues are minimized.
Participants will examine the parameters of the proposed extension and develop a perspective of technical accounting, methodology, technology, and data considerations for their extended LDTI implementation.