Aviva 2009 Annual Report Download - page 68

66
Aviva plc Accounting basis of preparation continued
Annual Report and Accounts 2009
Accounting Future accounting developments
Item policy We continue to take an active role in the development of new
Insurance and participating investment contract liabilities
Goodwill, AVIF and other intangible assets
Fair values of financial investments
Impairment of financial investments
Fair value of derivative financial instruments
Deferred acquisition costs and other assets
Provisions and contingent liabilities
Pension obligations
Deferred income taxes
F & K accounting standards, via industry forums and working parties,
N and reviewing and providing comment on proposals from the
S IASB. Phase II of the IASB’s project on insurance contracts
S
T continues to be the most significant area of development for
W us, and we continue actively to engage in the debate. We fully
Z support the timely development of a global standard for
AA insurance accounting that reflects the economics of our
AB business, and are working directly and through the CFO Forum
of leading European insurers, to achieve this. While this
standard is under development, we will continue to focus on
MCEV as the best measure of value for our long-term business.
We continue to monitor other major IASB projects, including
financial statement presentation, liabilities, revenue recognition,
pensions accounting and fair value measurement.