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ACTEX Professional Series: GAAP: Generally Accepted Accounting Principles for Actuaries Training Series
Author: Wacker/McCoy
Availability: In-Stock
Publisher: ACTEX
ACTEX Professional Series: GAAP: Generally Accepted Accounting Principles for Actuaries [1 participant] [Five Recordings] [180-day subscription/No Refunds] - $300.00
ACTEX Professional Series: GAAP: Generally Accepted Accounting Principles for Actuaries [2-9 participants] [Five Recordings] [180-day subscription/No Refunds] - $500.00
ACTEX Professional Series: GAAP: Generally Accepted Accounting Principles for Actuaries [10-20 participants] [Five Recordings] [180-day subscription/No Refunds] - $900.00
ACTEX Professional Series: GAAP: Generally Accepted Accounting Principles for Actuaries [21+ participants] [Five Recordings] [180-day subscription/No Refunds] - $1,250.00

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Hone your GAAP skills with this ACTEX Professional Series of Five On-Demand Webinars that you can watch at your convenience over the next 180 days.  Perfect for individual or corporate training! 

Instructor Ben Wacker, FSA, MAAA is Chief Actuary at Northstar Financial Ltd. and Co-Founder of ACE Manuals.  He has worked in GAAP valuation and pricing roles at three different companies that have sold LTC, traditional, UL, fixed and variable annuities, and fixed indexed annuities.  

Instructor Jacob McCoy, FSA, MAAA is Co-Founder of ACE Manuals.  He has worked in insurance pricing roles in both individual and group insurance.  He has also taught GAAP accounting with Ben Wacker over the past decade for the SOA’s ILA CSP / LFV exams.

Contents of this Professional Series:

1. "Minding the GAAP Part 1: GAAP Accounting for Beginners"

Have you ever heard people running around talking about DAC, VOBA, SOX or MD&A and wondered what all the fuss was about? Are you interested in potentially rotating into a pricing or financial reporting role that involves GAAP accounting in some way, shape or form?  Or are you new to one of these roles and would like to get a big picture overview?

This webinar will be the first in a series of webinars that explore the GAAP Accounting Framework for "beginners".  This first webinar will be an overview of the GAAP Accounting Framework as it pertains to Life and/or Annuity companies.  Attendees will be able to, upon completion of this webinar, have a high level understanding of important drivers of a GAAP Reporting Process.

Specific topics covered will include:

  • GAAP Principles
  • Comparison to other accounting frameworks (statutory, IFRS, etc)
  • DAC
  • VOBA
  • SOP031
  • Benefit Reserves
  • Sarbanes Oxley (SOX)
  • Disclosures

2. "Minding the GAAP Part 2: DAC Accounting for Beginners"

Have you ever heard a lot of chatter about DAC and wanted to understand its mechanics in more detail?  Are you currently in a role that requires GAAP accounting knowledge but don't have a good handle on DAC?  

This webinar is the second in a series of webinars that explores the GAAP Accounting Framework for "beginners".  This webinar will be an overview of DAC as it pertains to Life and/or Annuity companies.  Attendees will be able to feel conversant about DAC, it's purpose, it's calculation, and it's context in financial statements. 

Specific topics covered will include:

  • Deferred Acquisition Cost Examples
  • Calculations by product type and accounting classification
  • Retrospective and Prospective Calculations (Everyone loves k-factors!)
  • True up and Unlocking
  • Recoverability and Loss Recognition Testing
  • Shadow DAC
  • Common drivers of DAC Volatility

Attendees will walk away with some basic numerical examples of DAC amortization, true up/unlocking, loss recognition testing, etc. There will also be a short e-course available for purchase in addition to this webinar for any attendees that want to walk through the webinar topics in a very granular manner.

3. "Minding the GAAP: GAAP Reserves Part 1"

Would you like to better understand the concepts underlying GAAP reserving?  Are you interested in potentially rotating into a pricing or financial reporting role that involves GAAP accounting in some way, shape or form?  Or are you new to one of these roles and would like to get a reserving overview?

GAAP Reserves Part 1 will be an overview of the GAAP Accounting Framework as it pertains to Life or Annuity companies. Specific topics include base UL type, annuity, traditional, and embedded derivative contracts. Attendees will be able to, upon completion of these webinars, have a high level understanding of important drivers of GAAP reserving, including reserve methodologies, intuition behind the methodologies, and how these methodologies fit into the financial statements.

Each topic will be covered at a high level, with simplified examples meant to facilitate a beginner’s level of understanding. 

Who Should Watch?

  • FSAs / ASAs / students with minimal experience in a GAAP context that are interested in learning more about reserving methodologies.
  • FSAs / ASAs / students with GAAP experience in a very narrow area that are looking broaden their perspective.
  • Accountants that would like to learn more about those "actuarial balances"

4. "Minding the GAAP: GAAP Reserves Part 2"

Would you like to better understand the concepts underlying GAAP reserving?  Are you interested in potentially rotating into a pricing or financial reporting role that involves GAAP accounting in some way, shape or form?  Or are you new to one of these roles and would like to get a reserving overview?

GAAP Reserves Part 2 will be an overview of the GAAP Accounting Framework as it pertains to Life or Annuity companies. Specific topics include Various Guaranteed Minimum Benefits (GMBs), UL with secondary guarantees, sales inducement assets, sales inducement liabilities, and some other miscellaneous topics created by profits followed by losses. Attendees will be able to, upon completion of these webinars, have a high level understanding of important drivers of GAAP reserving, including reserve methodologies, intuition behind the methodologies, and how these methodologies fit into the financial statements.

Each topic will be covered at a high level, with simplified examples meant to facilitate a beginner level of understanding.

5. "Minding the GAAP: VOBA and PGAAP"

Would you like to better understand the concepts underlying Purchase GAAP Accounting, particularly as it relates to VOBA and other intangibles?  Have you been exposed to components of these calculations as they run off, without understanding the initial setup?  Are you new to a financial reporting role and would like to better understand how these assets are calculated?  

This webinar is the 5th in a series of webinars that explore the GAAP Accounting Framework.  VOBA and PGAAP will be an overview of Purchase GAAP Accounting (PGAAP) as it pertains to VOBA and other intangibles. Attendees will be able to, upon completion of these webinars, have a high level understanding of important drivers and different approach to VOBA and other PGAAP intangible assets.  This includes but is not limited to valuation methodologies, intuition behind the methodologies, and how these methodologies fit into the financial statements.

Each topic will be covered at a high level, with simplified examples meant to facilitate a beginner's level of understanding.

Pricing:

Participants

Registration Fee

1

$300.00

2-9

$500.00

10-20

$900.00

21+

$1250.00

Multi-Participant Customers: ACTEX will provide a self-registration portal and activation key for your participants. This new system will make it easy to distribute this Professional Series to your participants without the need for rigorous administrative attention. Once you have completed the purchase, ACTEX will send you the URL for the registration site and the key for the number of participants.

Please Note: Participants must agree to the ACTEXeLearning.com Site Policy in order to access this webinar. All prices are in USD.

No Refunds or Cancellations are allowed with this product.