International


INTERNATIONAL
The International Financial Reporting Interpretations Committee (IFRIC), the interpretive body of the International Accounting Standards Board (IASB), issued Interpretation no. 14 (IFRIC 14), The Limit on a Defined Benefit Asset, Minimum Funding Requirements and Their Interaction, on International Accounting Standard no. 19 (IAS 19), Employee Benefits.

IFRIC 14 provides general guidance on how to assess the limit in IAS 19 on the amount of the surplus that can be recognized as an asset. It also explains how the pension asset or liability may be affected when there is a statutory or contractual minimum funding requirement. No additional liability will be recognized by the employer under IFRIC 14 unless the contributions that are payable under the minimum funding requirement cannot be returned to the company.

The interpretation is mandatory for annual periods beginning on or after Jan.1, 2008. Earlier application is permitted. For more information visit www.iasb.org .

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.