Personal Financial Statements

Question 1

What is the current value of an insurance policy?

Answer 1

Cash Value of the policy minus loans against it

FASB ASC 274-35-10-9

Question 2

What are the Financial Statements required in Personal Financial Statements

Answer 2

A statement of financial condition and a statement of changes in net worth

Question 3

What Section of FASB is Personal Financial Statements located?

Answer 3

274-10