Quick Reference
Statutory Accounting Course
GAAP Accounting Course
Continuing Professional Education Credit
In-House Workshops
For More Information

Online Registration:
Statutory Accounting Course  
GAAP Accounting Course  

Download the Registration Form and mailer

Life! Simulation
In each course, you’ll experience LOMA & Deloitte’s Life! Simulation, which is an interactive & fun way to learn the fundamentals of GAAP or statutory accounting for life insurers. There’s simply no other computer-based accounting exercise like it.

During the Life! Simulation, you’ll participate on a fictional life insurance company team and enjoy a little friendly competition with other teams.  

• You’ll learn practical accounting applications by managing your own team's fictional life insurance company.
• You'll make real-world decisions in accounting for your team's transactions, as well as discover how your team's strategic & tactical business decisions impact financial results.
• You’ll prepare & analyze your team’s financial statements.

Who Should Attend? 
Both courses are recommended for accountants and financial analysts/managers, internal auditors, regulators, insurance consultants and analysts, and other insurance personnel who desire an understanding of life insurance statutory and GAAP accounting.

Statutory Accounting Course
The two-day statutory accounting course teaches the unique methods of accounting, developing financial information and financial reporting used in the life insurance industry and required under statutory rules and regulations. It provides participants with tools to identify and discuss current life insurance statutory accounting practices specific to key financial accounts and the industry's reporting requirements.

Statutory Accounting will teach you to:

• Prepare a statutory accounting balance sheet and a statement of operations that are in compliance with the Annual Statement Instructions and NAIC Life and Health Accounting Manual:

• Calculate amounts to be included in various general ledger accounts using various management reports relating to product and investment results by applying key statutory and accounting concepts; and

• Recognize and apply analytical methods to assess the financial position and operations of a life insurance company. Identify impact of statutory accounting principles on such reported amounts.

• Implement codification updates into accounting procedures.

Back to Top

Back to Top

GAAP Accounting Course
The two-day GAAP accounting course teaches accountants and financial managers about this method of accounting required by FASB for financial statements developed in conformity with General Accepted Accounting Principles.

GAAP Accounting will teach you to:

• Prepare a GAAP balance sheet and a statement of operations that are in compliance that are in compliance with the Generally Accepted Accounting Principles and SEC requirements;
• Calculate amounts to be included in various general ledger accounts using various management reports relating to product and investment results by applying key GAAP accounting concepts;
• Classify various insurance products and apply the appropriate GAAP accounting under respective Statement of Financial Accounting Standard No. 60, 97 or 120;
• Recognize and apply analytical methods to assess the financial position and operations of a life insurance company. Identify impact of GAAP accounting principles and reporting requirements on such reported amounts (i.e., revenue recognition); and
• Discuss the differences between Generally Accepted Accounting Principles and statutory accounting principles.

Back to Top

Who Should Attend? 
Both courses are recommended for accountants and financial managers, internal auditors, regulators, insurance consultants and analysts, and other insurance personnel who desire an understanding of life insurance statutory and GAAP accounting.

Register Today!
Space is limited. 

Online Registration:
Statutory Accounting Course
GAAP Accounting Course

Download Registration Form (PDF)

Meeting & Hotel Details

Chicago/Northbrook

Meeting Location
The September 2008 classes will be held at Allstate Life, 3100 Sanders Road, West Plaza Building, Hall of Fame Room, Northbrook, IL 60062 .

Daily Schedule
Continental breakfast will be provided each day at 8:00 a.m. at Allstate. Classes will begin at 8:30 a.m. and will end at 5:00 p.m.

Transportation
The classes will be held at Allstate Life, West Plaza Building in the Hall of Fame Room. The Allstate campus is approx. 30 minutes from O’Hare Airport and approx. 10 minutes from the Westin Chicago North Shore Hotel.

To travel between Allstate’s campus (where the classes will be held) and the hotel, we suggest that you use: a rental car, cab, or hotel’s complimentary van. The hotel’s van is based on availability and can take you within a five mile radius of the hotel. However, a rental car may be your best option, in the event the hotel’s van is not available when you need it.

Transportation Options - Airport to/from Hotel: American Taxi or 303 Taxi - approx. $30+ one way; pickup located outside baggage claim area (prices subject to change). AAA Atlantic Limo - approx. $42+ one way; must reserve in advance by calling 847-272-7320 (prices subject to change).

Statutory Course, September 16–17 in Northbrook/Chicago  

If you register before August 1:
LOMA Members: $1,395
Nonmembers: $1,495

If you register after August 1:
LOMA Members: $1,595
Nonmembers: $1,695 

GAAP Course, September 18–19 in Northbrook/Chicago

If you register before August 1:
LOMA Members: $1,395
Nonmembers: $1,495 

Hotel Information
The Westin Chicago North Shore
601 North Milwaukee Avenue
Wheeling, IL 60090

Room rate is $219.00 + 11% taxes and is available until Monday, August 25, 2008, or until the blocked space is sold out, whichever comes first. Check-in time is 3:00 p.m. and check-out time is 12:00 p.m. If you need to cancel your reservation, please contact The Westin by 6:00 pm one day prior to reserved arrival.

To reserve a hotel room, please click here or call (800) 228-3000.

In-House Workshops
LOMA offers these courses as in-house workshops for companies wishing to offer them exclusively to their employees (20 participants or more). Contact LOMA's Financial and Strategic Services for more information.

For more information contact...
Financial and Strategic Services
Phone: 770-984-6453
Fax: 770-984-6418
E-mail: financial@loma.org

Back to Top

Continuing Professional Education Credit
Earn 16 CPE credit hours upon completion of either course.

Intermediate level. No prerequisites or advance preparation required. Delivery method is Group-Live. In accordance with the standards of the National Registry of the CPE Sponsors, CPE credits are based on a 50-minute hour.

LOMA is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN 37219-2417.  Web site: www.nasba.org.  For more information regarding administrative policies such as complaint and refund, please contact our offices at 770-984-6453.

Related Products
AIAF: Associate in Insurance Accounting and Finance Program 
(Life Health Track)

LOMA Financial Inforum