Statutory Accounting Principles - SAP

What Does Statutory Accounting Principles - SAP Mean?
A set of accounting regulations prescribed by the National Association of Insurance Commissioners for the preparation of an insuring firm's financial statements.

Investopedia explains Statutory Accounting Principles - SAP
Filings prepared using SAP are submitted to individual state regulatory bodies; SAP are regarded as more regulatory and conservative than the GAAP method of preparing financial statements.

Related Terms

Accounting
Balance Sheet
Financial Accounting
GAAP
Income Statement
More Related Terms

Related Links

Advanced Financial Statement Analysis - Learn what it means to do your homework on a company's performance and reporting practices before investing.
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