volume 3, issue 3, P655-673 1997
DOI: 10.1017/s1357321700005079
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H. Ramlau-Hansen

Abstract: ABSTRACTTraditional life insurance accounting standards rely on various types of book and cost values, the result being that the income and balance sheet statements do not necessarily give a true and transparent picture of the result of the life business. As examples, assets are typically stated at a mix of cost, current and amortised cost values, whereas life insurance provisions are calculated according to the approved technical basis.In this paper, it is suggested that this deficiency can be corrected by pr…

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