The Governmental Accounting Standards Board's new statements on "other post-employment benefits" won't go into effect until the end of the year, but the questions are already coming in. Some queries are simply asking for a definition of "benefit," while others ask, "Do we really have to do this?"

Having foreseen a degree of confusion, the board has issued a guide, Guide to Implementation of GASB Statements 43 and 45 on Other Postemployment Benefits. The document clarifies the scope of the standards, explains actuarial issues and describes the treatment of implicit rate subsidies.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access