Coping with retiree health benefits
Article Abstract:
The Financial Accounting Standard Board (FASB) adopted Statement of Financial Accounting Standards (SFAS) No. 106, Employers' Accounting for Postretirement Benefits other than Pensions, which will require that all companies that have postemployment medical programs include a footnote disclosure of the expected financial burdens on of the benefits their financial statements. Companies offering postemployment medical benefits must review all provisions of the programs applicable to their retirees, future retirees, and their dependents, examine other operating areas for effects to offset the postemployment medical benefits on future financial statements, and develop a strategy for dealing with the ramifications of SFAS 106. The company should establish and maintain open lines of communication with its current employees and retirees on all expected changes.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1991
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Creativity in pension accounting
Article Abstract:
Many companies have resorted to the adoption of dubious and often self-serving creative accounting techniques when reporting on the financial management of the pension plans they control on behalf of their employees. These abusive creative accounting methods are often used to cover up the extent by which these companies have or have not maintained their responsibility to provide all promised pension benefits. The pension reporting rules promulgated under Accounting Principles Board Opinion No 8 and Financial Accounting Standards Board Statement No 87 are reevaluated to highlight the areas where creative accounting techniques have become quite common. The question of how these areas of creativity can be adequately safeguarded is then considered.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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CMA Corporate Sponsors total more than 100
Article Abstract:
The Certified Management Accountants (CMA) program has attracted 16 more companies to its CMA Corporate Sponsors scheme. The addition of new companies to the scheme brings the total number of corporate sponsors in the program to 109. The new corporate sponsors include Alpha Business Services in Rock Hill, SC, Cajun Electric Power Cooperative in Baton Rouge, LA, and Roadway Logistics Systems Inc in Akron, OH. The CMA Corporate sponsors scheme allows participating companies to support accounting personnel wishing to obtain CMA accreditation. This can be done in several ways such as the reimbursement of exam fees, the provision of in-house review, and compensation for time taken to review for the CMA exam.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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