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- Title
How will full adoption of Statement 87 affect your liability disclosure?
- Authors
Herdman, Robert K.; Neary, Robert D.
- Abstract
This article discusses the impact of adoption of Financial Accounting Standards Board Statement 87 on liability disclosure. In 1989, all companies will be required to apply all provisions of Statement 87, regardless of the number of participants in its pension plan. This ends a two year transition period during which adoption of the standard was optional. The statement involves recognizing minimum liability for underfunded plans. However, this creates an intangible asset instead of simply a charge against income.
- Subjects
FASB pronouncement : Statement 87; PENSIONS; ACCOUNTING methods; ACCOUNTING standards; PENSION trusts; PENSION plan funding; LIABILITIES (Accounting); INTANGIBLE property; FINANCIAL disclosure; CORPORATION reports; ACCOUNTING changes; DEFINED contribution pension plans
- Publication
Financial Executive, 1989, Vol 5, Issue 2, p12
- ISSN
0895-4186
- Publication type
Article