The Financial Accounting Standards Board has issued two proposed accounting standards updates to improve financial reporting by employers related to defined benefit pension and other postretirement benefit plans.
One of the proposed updates, Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Changes to the Disclosure Requirements for Defined Benefit Plans, is part of the FASB’s broader disclosure framework project to improve the effectiveness of disclosures in the notes to financial statements by focusing on the information considered to be most relevant to users of financial statements.
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