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28 Sep 2019
SFAS 158 made revisions on how pension plans andpostretirement benefit information should be reported in thefinancial statements.
Refer to Fatality Analysis Reporting System (FARS) to identifythe changes that were made, both within the financial statementsthemselves and in the required disclosures.
What are the current requirements for reporting pension planand postretirement benefit information in the financialstatements?
What are the changes that were made from previous reportingrequirements?
Have these changes improved reporting for the users offinancial statements?
In your evaluation, you should consider how the changes eitherimproved or did not improve the characteristics of usefulness andunderstandability identified in the conceptual framework forfinancial reporting, such as the following:
Representational faithfulness Verifiability Conservatism Full disclosure Predictive or feedback value The definitions of financial statement elements
SFAS 158 made revisions on how pension plans andpostretirement benefit information should be reported in thefinancial statements.
Refer to Fatality Analysis Reporting System (FARS) to identifythe changes that were made, both within the financial statementsthemselves and in the required disclosures.
What are the current requirements for reporting pension planand postretirement benefit information in the financialstatements?
What are the changes that were made from previous reportingrequirements?
Have these changes improved reporting for the users offinancial statements?
In your evaluation, you should consider how the changes eitherimproved or did not improve the characteristics of usefulness andunderstandability identified in the conceptual framework forfinancial reporting, such as the following:
Representational faithfulness
Verifiability
Conservatism
Full disclosure
Predictive or feedback value
The definitions of financial statement elements
Nestor RutherfordLv2
28 Sep 2019
