Version 1: This course provides a comprehensive survey of statutory accounting principles as applied in life and health insurance companies; a comparison of those principles with generally accepted accounting principles; a review of the planning, budgeting, internal and external management reporting, multiple company ownership, and asset/liability matching aspects of an insurer's operations; and the differences and similarities between U.S. and Canadian life and health insurance accounting principles. Major topics include: assets, reserve liabilities, capital and surplus, revenues, expenses, federal income taxation, accounting for lines of business , cost accounting, budgeting and planning, reports and consolidations, internal control, reinsurance, separate accounts. Version 2: This course provides a comprehensive survey of statutory accounting principles as applied in life and health insurance companies; a comparison of those principles with generally accepted accounting principles; a review of the planning, budgeting, internal and external management reporting, multiple company ownership, and asset/liability matching aspects of an insurer's operations; and the differences and similarities between United States and Canadian life and health insurance accounting principles. Major topics include: assets, reserve liabilities, capital and surplus, revenues, expenses, federal income taxation, accounting for lines of business, cost accounting, budgeting and planning, reports and consolidations, internal control, reinsurance, separate accounts.