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 .

SPONSORED REPORT

CPEOs provide peace of mind around payroll services

The creation of these new IRS-certified service providers for small businesses clarifies some issues around traditional professional employer organizations.

QUIZ

8 sentences to help you master subject-verb agreement

When professionals prepare written material for readers inside their organization or outside, they should make sure that no errors distract from the message they need to convey. Take this short quiz for practice in subject-verb agreement.