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FASB Statement No. 132 simplifies benefits disclosures.
Healthc Financ Manage. 1999 Jun; 53(6):68-72, 74, 76.HF

Abstract

In February 1998, the FASB issued Statement of Financial Accounting Standards No. 132, Employers' Disclosures about Pensions and Other Postretirement Benefits. The new standard is designed to streamline pension and other postretirement benefits disclosures in public and nonpublic entities' financial statements. For nonpublic entities, the statement eliminates separate disclosures of the components of net periodic benefit cost, eliminates the disclosure of the components of benefit obligations and of alternative obligation measures, eliminates the disclosure of plan provisions, adds the disclosure of comprehensive income, eliminates the disclosure of sensitivity to changes in healthcare trend rates, and standardizes the disclosures for pension and other postretirement benefits. Financial managers and their organizations' actuaries and auditors should work together to determine which disclosures their organizations should make to be in compliance with FASB Statement No. 132.

Authors+Show Affiliations

Luecke RW
CSA America, Inc., Cleveland, OH, USA.
Andrzejewski C
No affiliation info available

MeSH

AccountingData CollectionFinancial AuditGuideline AdherenceHealth FacilitiesPensionsPrivate SectorPublic SectorRetirementTruth DisclosureUnited States

Pub Type(s)

Journal Article

Language

eng

PubMed ID

10558173

Citation

Luecke, R W., and C Andrzejewski. "FASB Statement No. 132 Simplifies Benefits Disclosures." Healthcare Financial Management : Journal of the Healthcare Financial Management Association, vol. 53, no. 6, 1999, pp. 68-72, 74, 76.
Luecke RW, Andrzejewski C. FASB Statement No. 132 simplifies benefits disclosures. Healthc Financ Manage. 1999;53(6):68-72, 74, 76.
Luecke, R. W., & Andrzejewski, C. (1999). FASB Statement No. 132 simplifies benefits disclosures. Healthcare Financial Management : Journal of the Healthcare Financial Management Association, 53(6), 68-72, 74, 76.
Luecke RW, Andrzejewski C. FASB Statement No. 132 Simplifies Benefits Disclosures. Healthc Financ Manage. 1999;53(6):68-72, 74, 76. PubMed PMID: 10558173.
* Article titles in AMA citation format should be in sentence-case
TY - JOUR T1 - FASB Statement No. 132 simplifies benefits disclosures. AU - Luecke,R W, AU - Andrzejewski,C, PY - 1999/11/11/pubmed PY - 1999/11/11/medline PY - 1999/11/11/entrez SP - 68-72, 74, 76 JF - Healthcare financial management : journal of the Healthcare Financial Management Association JO - Healthc Financ Manage VL - 53 IS - 6 N2 - In February 1998, the FASB issued Statement of Financial Accounting Standards No. 132, Employers' Disclosures about Pensions and Other Postretirement Benefits. The new standard is designed to streamline pension and other postretirement benefits disclosures in public and nonpublic entities' financial statements. For nonpublic entities, the statement eliminates separate disclosures of the components of net periodic benefit cost, eliminates the disclosure of the components of benefit obligations and of alternative obligation measures, eliminates the disclosure of plan provisions, adds the disclosure of comprehensive income, eliminates the disclosure of sensitivity to changes in healthcare trend rates, and standardizes the disclosures for pension and other postretirement benefits. Financial managers and their organizations' actuaries and auditors should work together to determine which disclosures their organizations should make to be in compliance with FASB Statement No. 132. SN - 0735-0732 UR - https://www.unboundmedicine.com/medline/citation/10558173/FASB_Statement_No__132_simplifies_benefits_disclosures_ DB - PRIME DP - Unbound Medicine ER -