GAAP vs. SAAP table (Cheat sheet)

marodriguezmarodriguez
in Odomirok.22-23-GAAP

I'm reposting this as a question....

This question is a bit loaded since I'm fuzzy on a lot regarding SAP vs. GAAP:

I) I'm not clear on WHERE in the Annual Statement each of the differences listed in the cheat sheet SAP vs. GAAP table are referring to. For example, the one item clearly states "Balance sheet presentation of reinsurance" so its clearly referring to differences between SAP and GAAP on the Balance sheet. But where would the "Ceded Reinsurance" item be referring to? Is that on the Balance sheet? Income statement? Schedule P?

II) On an overall level, I'd imagine we're not tested about anything else GAAP related except the Balance sheet and Income statement. Like if a GAAP annual statement even contains a schedule P (I'd imagine they don't) we wouldn't be expected to know anything about it or any other GAAP related Schedules. Correct?

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