Statutory Accounting Principles - SAP
A set of accounting regulations prescribed by the National Association of Insurance Commissioners for the preparation of an insuring firm's financial statements.
Investopedia Commentary
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 Links
Advanced Financial Statement Analysis
Lady Godiva Accounting Principles
See also: Accounting, Balance Sheet, Financial Accounting, GAAP, Income Statement
Also spelled: SAP