Accounting for Cash Surrender Value in Corporate Finance 14 juli 2021 – Posted in: Bookkeeping

The cash surrender value of the life insurance policy is an asset that is recorded on the balance sheet (“B/S”) of the company. The amount recorded varies from year to year as the cash surrender value of the policy increases or decreases. You should receive a Form 1099-R showing the total proceeds and the taxable part. Impact on Beneficiaries Public companies must report their financial statements using International Financial Reporting Standards (IFRS). Like copyright and…