FASB adds project on pensions to agenda.The Financial Accounting Standards Board Financial Accounting Standards Board (FASB) Board composed of independent members who create and interpret Generally Accepted Accounting Principles (GAAP). has decided to add a project to its agenda to reconsider re·con·sid·er v. re·con·sid·ered, re·con·sid·er·ing, re·con·sid·ers v.tr. 1. To consider again, especially with intent to alter or modify a previous decision. 2. guidance in Statement No. 87, Employers' Accounting for Pensions, and Statement No. 106, Employers' Accounting for Postretirement Benefits Other Than Pensions. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the board, its objective in undertaking the project is to improve the reporting of pensions and other post-retirement benefit plans in the financial statements by making information more useful and transparent for investors, creditors, employees, retirees and other users. The agenda addition reflects the board's commitment to ensure that its standards address current accounting issues and changing business practices. In making its decision, the board said it considered requests by various constituents, including members of the Financial Accounting Standards Advisory Council, the FASB's User Advisory Council and the Securities and Exchange Commission. The agenda addition represents the latest step in the FASB's effort to ensure that standards for pensions and other postretirement benefits provide credible, comparable, conceptually con·cep·tu·al adj. 1. Of or relating to concepts or mental conception: conceptual discussions that antedated development of the new product. 2. Of or relating to conceptualism. sound and usable USable is a special idea contest to transfer US American ideas into practice in Germany. USable is initiated by the German Körber-Stiftung (foundation Körber). It is doted with 150,000 Euro and awarded every two years. information to the public. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion