Trust and Banking Deposits
What is it under 'Liability' in Statement of Financial Position?
Is it not referring to the money put in bank/trust?
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What is it under 'Liability' in Statement of Financial Position?
Is it not referring to the money put in bank/trust?
Comments
Good question. I believe this is money held in trust by the insurer? It would be a liability if so if the insurer is holding it for someone else. @graham thoughts?
Yes, I believe it's money the insurer manages that belongs to a third party.