The valuation arena looks different these days. As organizations' needs for valuation in financial and nonfinancial reporting grow, so do individuals' needs in entrepreneurship, litigation and a host of other applications. Protecting the quality and reliability of valuation while addressing the increase in demand is a challenge the profession must rise to address.
Rules the Financial Accounting Standards Board has issued could address a problem that caused General Electric to take a hefty loss related to insurance contracts this year. Under the rules, insurers and their auditors have to review assumptions underpinning long-term insurance contracts yearly.
Auditory learning is a great way to develop listening skills. While in your car, on the train or on a flight to visit a client, practice active-listening skills with podcasts or audiobooks.
A person's defeats can provide lessons in resilience that help them reach the highest career peaks, writes IIA President and CEO Richard Chambers. "Take adversity as it comes," Chambers writes. "You will always learn more in life's valleys than on its lofty peaks."
Companies that sell products such as life insurance, disability-income insurance, long-term-care insurance and annuities will change accounting under rules issued by the Financial Accounting Standards Board.
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