How the FASB Exposure Draft Would Revamp Pension Accounting

Borton, Douglas C.
July 1985
FE: The Magazine for Financial Executives;Jul1985, Vol. 1 Issue 7, p42
Trade Publication
The article assesses the role of the Financial Accounting Standards Board (FASB) exposure draft in the reconstruction of pension accounting. The FASB has modified a widely criticized aspect of its 1982 proposal to require companies to report unfunded pension liabilities on corporate balance sheets. The FASB proposals also would revolutionize the way pension expense is determined. In order to achieve greater comparability among companies, the FASB would mandate the use of the projected unit credit cost method. In applying this method, the fair market value of assets and explicit actuarial assumptions would have to be used.


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