Do accounting standards change behaviour, part 1

Article Abstract:

The accounting principles for retirement benefits in several nations generally conform to the principles set by the International Accounting Standard. However, there are also differences which tend to make the operations of multinational corporations difficult since benefits cost has to be computed under differing standards. There is a need to make radical changes to attain a consistent international accounting standard based on the US Financial Accounting Standard.

Retirement benefits

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Do accounting standards change behavior?

Article Abstract:

The effect of pension accounting standards is analyzed regarding an employer's benefit policy. Case studies of UK and US companies reveal that accounting standards compel employers to take employee benefits into account when planning corporate finances. More rigorous accounting standards are likely to result in decrease in post-retirement medical cover, more defined contribution schemes and employer's opting to give higher salaries rather than pension schemes.

Economic aspects

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Accounting for pension costs - the proposed new UK standard

Article Abstract:

Issues concerning FRED 20, the new accounting standard in the United Kingdom, are presented. Reference is made to the division of pension cost components, the treatment of losses and gains, and the disclosures that are required.

Powers and duties, United Kingdom. Accounting Standards Committee

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