Accounting Commons^™

Codification Of Auditing Standards (Including Aicpa And Pcaob Auditing Standards), American Institute Of Certified Public Accountants (Aicpa)

Statements on Auditing Standards

No abstract provided.

2003-2004 Financial Summary, Morehead State University. Budget & Financial Planning Office.

Morehead State University Financial Summaries Archive

2003-2004 Financial Summary of Morehead State University.

Journal Of Actuarial Practice - Volume 11 (2004) - Contents And Masthead

Journal of Actuarial Practice (1993–2006)

Contents

Editorial Policy: Topics suitable for this journal include AIDS, annuity products, asset-liability matching, cash-flow testing, casualty rate making, credibility theory, credit insurance, disability insurance, expense analysis, experience studies, FASB issues, financial reporting, group insurance, health insurance, individual risk taking, insurance regulations, international issues, investments, liability insurance, loss reserves, marketing, pensions, pricing issues, product development, reinsurance, reserving issues, risk-based capital, risk theory, social insurance, solvency issues, taxation, valuation issues, and workers' compensation

Review Process

Editor - Colin Ramsay, University of Nebraska

Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, …

Rapid Calculation Of The Price Of Guaranteed Minimum Death Benefit Ratchet Options Embedded In Annuities, Eric R. Ulm

Journal of Actuarial Practice (1993–2006)

This paper presents a new method of obtaining quick and accurate values and deltas for discrete look back options using Taylor series expansions. This method is applied to the case of ratchet guaranteed minimum death benefits attached to annuity contracts, and the method is extended to include annuities where a fixed fund is attached to the variable account. Finally, both the speed and the accuracy of the method are compared to Monte Carlo simulation and the exact analytic solution. The Taylor expansion method is shown to be faster and, in most cases, more accurate than the alternative methods.

Approximating The Bias And Variance Of Chain Ladder Estimates Under A Compound Poisson Model, Janagan Yogaranpan, Sue Clarke, Shauna Ferris, John Pollard

Journal of Actuarial Practice (1993–2006)

We consider the problem of estimating the outstanding claims produced by a homogeneous general insurance portfolio. The specific model considered in this paper is one where the number of claims in any loss period follows a Poisson distribution, settlement delays follow the same multinomial distribution, and settlements are single lump sums that are independent identically distributed random variables. Simulations using this model reveal that the development ratios and the outstanding claims estimates produced using the chain ladder method are positively biased. We obtain approximate formulas for the biases using Taylor series expansions of the random variables about their means. The …

Decision Tree Analysis Of Terminated Life Insurance Policies, Robert Keng Heong Lian, Yuan Wu, Hian Chye Koh

Journal of Actuarial Practice (1993–2006)

Statistical methods such as regression and survival analysis have traditionally been used to investigate the factors affecting the duration of terminated life insurance policies. This study explores a different approach: it uses a more recently developed data mining technique called decision trees. By sequentially partitioning the data to maximize differences in the dependent variable (duration in this study), the decision trees technique is good at identifying data segments with significant differences in the dependent variable. This identification can be useful when a company is trying to understand the factors driving or associated with the termination of life insurance policies. Decision …

A Comparative Study Of Parametric And Nonparametric Estimators Of Old-Age Mortality In Sweden, Peter Fledelius, Montserrat Guillen, Jens Perch Nielsen, Kitt Skovso Petersen

Journal of Actuarial Practice (1993–2006)

A recent study of Swedish old-age mortality used a modified GompertzMakeham model with a linear hazard for the force of mortality. We propose an alternative model using smooth two-dimensional kernel hazard estimators and introduce a new estimator based on the multiplicative bias correction for the multivariate marker dependent hazard. The multiplicative bias correction appears to have great potential for estimating mortality rates at the highest ages. We also observe that mortality continues to increase at an exponential rate even in old-age.

Phased Retirement For Defined Benefit Plan Participants, Patricia L. Scahill, Jonathan Barry Forman

Journal of Actuarial Practice (1993–2006)

The demographic makeup of the U.S. workforce is changing. The population between ages SS and 64 is projected to increase significantly by 2020, but employment rates for this age group have not been increasing. Employers will likely need to encourage critical employees in this age group to delay retirement. Phased retirement is one tool for delaying retirement, while also not continuing full-time employment, so it can be a compromise for employers and employees. Both Congress and two administrative agencies have begun to consider changes in pension laws and regulations that would be needed to accommodate phased retirement for employers who …

The Actuarial Value Of Life Insurance Backdating, James M. Carson, Krzysztof Ostaszewski

Journal of Actuarial Practice (1993–2006)

Backdating is a common (and legal) practice in the U.S. whereby a life insurance contract bears a policy date that is prior to the actual application date. This practice often results in the opportunity for some insureds to reduce the annual premium paid. Using cash flow projections and U.S. mortality, lapse, and interest rate data, we provide a model of the actuarial value of term life insurance backdating. Results indicate that the benefits to the applicant of backdating a term life insurance policy increase as the applicant age (and hence premium) increases. Increasing mortality, lapse, and interest rates, as well …

Credibility Theory And Geometry, Elias S.W. Shiu, Fuk Yum Sing

Journal of Actuarial Practice (1993–2006)

We present a geometric approach to studying greatest accuracy credibility theory. Our main tool is the concept of orthogonal projections. We show, for example, that to determine the Buhlmann credibility premium is to find the coefficients of the minimum-norm vector in an affine space spanned by certain orthogonal random variables. Our approach is illustrated by deriving various common credibility formulas. Several equivalent forms of the credibility factor Z are derived by means of similar triangles.

Product Innovation In Financial Services: A Survey, Christopher O'Brien

Journal of Actuarial Practice (1993–2006)

This paper considers product innovation in insurance and other financial services, an area where actuaries have an important role. It considers the proposition that there is no unique formula for success and that what works well in one situation may not work well in another. It first examines the sources of ideas for new products and, in particular, the role played by consumers, which is generally regarded as weak. It then looks at how ideas are implemented, with particular importance attributed to cross-functional teams and the formality of the product development process. Then it considers how success is measured (with …

Estimation Of Complete Period Life Tables For Singaporeans, Siu-Hang Li, Wai-Sum Chan

Journal of Actuarial Practice (1993–2006)

Complete period life tables, with death rates for every year of age, are not available in Singapore. This study constructs such tables for Singaporeans from the limited mortality information contained in the abridged life tables provided by the Singapore Department of Statistics. We find that linear interpolation, Whittaker graduation, and the Coale-Kisker method together can generate complete life tables that are smooth and continuous. The validity of the complete life tables generated by our method is further confirmed by (1) comparing the life expectancies calculated from our estimated life tables with those provided by the Singapore Department of Statistics, and …

Engagement Letters For Litigation Services; Business Valuation And Forensic And Litigation Services Section Practice Aid, 04-1, American Institute Of Certified Public Accountants

Newsletters

No abstract provided.

Changes Needed In Sarbanes-Oxley, Jeffrey Alan Halstead Ii.

Theses and Dissertations

This thesis is a requirement for completion of the Honors Program at Columbus State University . It is to be completed in the final year of the student ' s undergraduate course work at the institution . Its contents must address a controversial topic related to the graduate' s chosen field of study or major. Each student must present his or her argument to a hearing board, which consists of three professors from the related department and the chair of the Honors Program . In order to achieve successful completion of the thesis, the committee must deem that the student …

Supply Of Accounting Graduates And The Demand For Public Accounting Recruits, 2004, For Academic Year 2002-2003, Beatrice Sanders, Leticia B. Romeo

AICPA Annual Reports

No abstract provided.

Have You Impaired Your Independence By Performing Nonattest Services For Your Attest Clients? Professional Ethics Quiz, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Aicpa Interpretation 101-3, Performance Of Nonattest Services, Requirement To Document Understanding With An Attest Client, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Ten Ways To Protect Your Business (Pattern Speech), American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Tpa 6400.46 – Applicability Of Fasb Interpretation No. 45—Guarantor’S Accounting And Disclosure Requirements For Guarantees, Including Indirect Guarantees Of Indebtedness Of Others—Mortgage Guarantees, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Appendix M: Issues Paper - Ssars No. 10, Performance Of Review Engagements, American Institute Of Certified Public Accountants (Aicpa)

Guides, Handbooks and Manuals

No abstract provided.

Aicpa Audit Committee Toolkit, American Institute Of Certified Public Accountants. Audit Committee Effectiveness Center

AICPA Committees

No abstract provided.

Review Engagements -- New And Expanded Guidance On Analytical Procedures, Inquiries, And Other Procedures, J. Russell Madray, Lorie L. Pombo

AICPA Committees

No abstract provided.

Aicpa Committee Handbook For 2003-2004, American Institute Of Certified Public Accountants (Aicpa)

AICPA Committees

No abstract provided.

Aicpa Committee Handbook For 2002-2003, American Institute Of Certified Public Accountants (Aicpa)

AICPA Committees

No abstract provided.

Aicpa Committee Handbook For 2001-2002, American Institute Of Certified Public Accountants (Aicpa)

AICPA Committees

No abstract provided.

Aicpa Committee Handbook For 2000-2001, American Institute Of Certified Public Accountants (Aicpa)

AICPA Committees

No abstract provided.

Aicpa Committee Handbook Showing All Member History For All Years In Which Electronic Records Have Been Maintained, American Institute Of Certified Public Accountants (Aicpa)

AICPA Committees

No abstract provided.

Auditing Governmental Financial Statements : Programs And Other Practice Aids; Aicpa Audit And Accounting Practice Aid Series;, Venita M. Wood, Lori A. West

Guides, Handbooks and Manuals

No abstract provided.

Employee Benefit Plans With Conforming Changes As Of May 1, 2004; Audit And Accounting Guide:, American Institute Of Certified Public Accountants. Employee Benefit Plans Committee

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.

Life And Health Insurance Entities, With Conforming Changes As Of May 1, 2004; Audit And Accounting Guide:, American Institute Of Certified Public Accountants. Life Insurance Audit Guide Task Force

Industry Guides (AAGs), Risk Alerts, and Checklists

No abstract provided.