FASB 115
Updated: 02 November 2024
What Does FASB 115 Mean?
FASB 115 is a rule established by the Financial Accounting Standards Board requiring insurers to report their securities with fixed maturities at their current market value, rather than at past or potential future values.
Insuranceopedia Explains FASB 115
FASB 115 is a financial regulation that insurance companies must comply with regarding the valuation of securities. This reporting standard enables the Financial Accounting Standards Board (FASB) to monitor insurance companies for legal and taxation purposes. Insurance companies that fail to comply with FASB 115 may face penalties such as fines, making it beneficial for them to adhere to the rule by reporting the market value of their securities with fixed maturities.
Synonyms
FASB #115
FASB Number 115
FASB No. 115
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