Status of Statement No. 113

Accounting and Reporting for Reinsurance of Short-Duration and Long-Duration Contracts


December 1992

Effective Date:
For financial statements for fiscal years beginning after December 15, 1992

Amends FAS 5, paragraph 44
Deletes FAS 60, paragraphs 38 through 40, and 60(f)
Replaces FAS 97, paragraph 27
Amends FIN 39, paragraph 7

Affected by:
Paragraph 6 amended by FAS 120, paragraph 9, and *FAS 141(R), paragraph E23
Paragraph 28 amended by FAS 133, paragraph 533

Other Interpretive Pronouncement:
FIN 40

Other Interpretive Release:
FASB Viewpoints, "Accounting for Reinsurance: Questions and Answers about Statement 113," FASB Status Report, February 26, 1993 (in Current Text Section In6)

AICPA Accounting Standards Executive Committee (AcSEC)

Related Pronouncements:
SOP 92-5
SOP 94-6
SOP 98-7

Issues Discussed by FASB Emerging Issues Task Force (EITF)

No EITF Issues

Interpreted by:
Paragraph 21 interpreted by EITF Issue No. 93-6
Paragraphs 22 through 24 interpreted by EITF Issue No. 93-6 and Topic No. D-54
Paragraph 25 interpreted by EITF Issue No. 93-6

Related Issues:
EITF Issue No. 03-8 and Topic No. D-35

*Note: Amendments as a result of the issuance of FAS 141(R) are effective for business combinations with an acquisition date on or after the beginning of the first annual reporting period beginning on or after 12/15/08.

Abbreviations for Accounting Pronouncements

FAS - FASB Statements
FIN - FASB Interpretations
FTB - FASB Technical Bulletins
APB - APB Opinions
AIN - AICPA Interpretations
ARB - Accounting Research Bulletins
CON - FASB Concepts
EITF - EITF Issues
Q&A - FASB Implementation Guides