Heads Up: Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans (Revised July 23, 2007)
FASB Issues Statement No. 158
This issue of Heads Up summarizes summarizes FASB Statement No. 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans - an amendment of FASB Statements No. 87, 88, 106, and 132(R). Released last week, Statement 158 requires most public companies, as defined in the Statement, to fully recognize an asset or liability for the overfunded or underfunded status of their benefit plans in financial statements for years ending after December 15, 2006.
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