Employee Benefits

In a staff position document, FASB amended several statements to conform with pension-reporting requirements of Statement no. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans. FASB Staff Position FAS 158-1 also revised implementation guidance for Statement no. 158 and made technical revisions to the statement itself. Statement no. 158 requires that companies recognize in their financial statements the funded status of defined benefit retirement plans. Its amendments to statements 87, 88 and 106, all concerning retirement benefits accounting, did not update the statements’ illustrations in appendices. The staff position document does that. It can be viewed at www.fasb.org/fasb_staff_positions/fsp_fas158-1.pdf .


Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.


News quiz: Retirement planning, tax practice, and fraud risk

Recent reports focused on a survey that gauges the worries about retirement among CPA financial planners’ clients, a suit that affects tax practitioners, and a guide that offers advice on fraud risk. See how much you know with this short quiz.


Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.