Life Financial Reporting - IMR, AVR and Capital Gains and Losses

Explore the fundamental concepts of Interest Maintenance and Asset Valuation Reserves and capital gains and losses in this course.

CPE Credits: 2 hours in Accounting

Level: Basic

Prerequisites/Advance Preparation: None

NASBA Publication/Revision Date: May 2020

Learning Objectives

• Identify the characteristics of IMR and AVR
• Distinguish between IMR and AVR Liabilities
• Distinguish between IMR and AVR capital gains and losses
• Apply the statutory guidance for IMR and AVR

Outline

• Characteristics of IMR and AVR
  • Introduction to IMR and AVR
  • Overview of IMR
  • Overview of AVR
• IMR and AVR Capital Gains and Losses
  • Distinguishing between IMR and AVR capital gains and losses
  • Tax-effecting capital gains and losses
  • Relationships to the Exhibit of Capital Gains and Losses and Page 4