Key Accounting Issues for Nonprofits: Introduction ...

Guidance in SSAP No. 22 already adopts the GAAP definition for a sale from FAS 66 and NAIC staff cautions against statutory accounting deviation from the U.S. GAAP definition of a sale. Although NAIC staff notes the intent is to not to significantly change existing lease concepts, revisions may be necessary to clarify the previous guidance and ... ................
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