Statement of Position for Health and Welfare Benefit Plans Issued.Statement of Position 01-2, Accounting and Reporting by Health and Welfare Benefit Plans (No. 014929CPA (Computer Press Association, Landing, NJ) An earlier membership organization founded in 1983 that promoted excellence in computer journalism. Its annual awards honored outstanding examples in print, broadcast and electronic media. The CPA disbanded in 2000. 06), has been issued by the Accounting Standards Executive Committee. This SOP amends AMENDS. A satisfaction, given by a wrong doer to the party injured for a wrong committed. 1 Lilly's Reg. 81.
2. By statute 24 Geo. II. c. 44, in England, and by similar statutes in some of the United States, justices of the peace, upon being notified of an chapter 4 of the AICPA AICPA
See American Institute of Certified Public Accountants (AICPA). Audit and Accounting Guide Audits of Employee Benefit Plans, and SOP 92-6, Accounting and Reporting by Health and Welfare Benefit Plans.
Among other things, this SOP:
* Specifies the presentation requirements for benefit obligations information. (It allows information about the benefit obligations to be presented in a separate statement, combined with other information on another financial statement, or presented in the notes to the financial statements Notes to the financial statements
A detailed set of notes immediately following the financial statements in an annual report that explain and expand on the information in the financial statements. .)
* Requires disclosure of information about retirees' relative share of the plan's estimated cost of providing post-retirement benefits.
* Clarifies the measurement date for benefit obligations.
* Establishes standards of financial accounting and reporting for post-employment benefits provided by health and welfare benefit plans.
* Requires disclosure of the discount rate used for measuring the plan's obligation for post-employment benefits.
* Requires the identification of investments representing 5% or more of the net assets Net assets
The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand.
See owners' equity. available for benefits.
Effective for financial statements for plan years beginning after Dec. 15, 2000, earlier application of the SOP is encouraged. Financial statements presented for prior plan years are required to be restated to comply with the SOP's provisions.
To order a copy of SOP 01-2, contact the Member Satisfaction Center (see page 14; price: $10.50 member, $13 non-member).