New York (Sept. 15, 2003) -- Companies would have to start reporting the share of stocks, bonds, real estate and other assets in their pension plans, under a proposal released by the Financial Accountant Standards Board late last week.
Investors and the general public would also start getting more information about how pension plans affect corporate cash flow under the proposal by the FASB. FASB published the proposal on its Web site Friday, outlining changes to rules governing the way companies disclose pensions in financial statements.
The proposal, Employers' Disclosures about Pensions and Other Postretirement Benefits—an amendment of FASB Statements No. 87, 88, and 106 and a replacement of FASB Statement No. 132, can be downloaded from the rulemaker’s home page at www.fasb.org.
The deadline for comments on the proposal is Oct. 27.
-- WebCPA staff
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