Dear gumberella-ga;
Thank you for allowing me an opportunity to answer your interesting
question.
FASB STATEMENT No. 106
“Employers' Accounting for Postretirement Benefits Other Than
Pensions”
http://www.nysscpa.org/prof_library/FASB/Fasb106.htm
You can read the lengthy summary of Financial Accounting Standards
Board (FASB) Statement #106 by following the link I have provided. It
has been posted in a number of locations on the Internet for public
perusal. This source provides a detailed explanation of the effects
and potential impact of the statement. The potential impact it will
have on your specific situation however, will have to be determined by
someone within your organization who is more knowledgeable about your
affairs that any unknowing researcher could expect to be. Knowing what
you know, I have no doubt that you will able to develop a fairly good
idea of what impact the statement might have on you membership almost
immediately upon reading the summary.
Basically, however, the Statement establishes accounting standards for
employers' accounting for postretirement benefits other than pensions,
and though it applies to all forms of postretirement benefits, it
focuses principally on postretirement health care benefits. It will
significantly change the prevalent current practice of accounting for
postretirement benefits on a pay-as-you-go (cash) basis by requiring
accrual, during the years that the employee renders the necessary
service, of the expected cost of providing those benefits to an
employee and the employee's beneficiaries and covered dependents.
There is also a detailed list of the Financial Accounting Standards
Board’s objectives that I’m sure will be of great interest to you.
There is actually very little I can say here that would even come
close to explaining the statement better than the source I am
directing you to. It seems to be very well written, concise and to the
point. I have carefully defined my search strategy for you below in
case you feel the need to search for more information. If you follow
my search method you should be able to find additional references to
this statement if necessary.
I hope you find that that my research exceeds your expectations. If
you have any questions about my research please post a clarification
request prior to rating the answer. Otherwise, I welcome your rating
and your final comments and I look forward to working with you again
in the near future. Thank you for using Google Answers.
Best regards;
Tutuzdad-ga
INFORMATION SOURCES
“NYSSCPA.org”
http://www.nysscpa.org/prof_library/FASB/Fasb106.htm
“FASB Summary 106”
http://www.fasb.org/st/summary/stsum106.shtml
FASB Current Status of Statement 106”
http://www.fasb.org/st/status/statpg106.shtml
“FASB Facts”
http://www.fasb.org/facts/
NO GOOD DEED GOES UNPUNISHED
“Employers Attempt To Modify Retiree Health Plans”
(Interesting article about UAW and Statement 106)
http://www.steptoe.com/webdoc.nsf/Files/1003557v1/$file/1003557v1.pdf
SEARCH STRATEGY
SEARCH ENGINE USED:
Google ://www.google.com
SEARCH TERMS USED:
FASB106
“FASB 106”
“FASB STATEMENT NO. 106”
“Statement 106” UAW |
