Accounting for the OPEBs: Does better accounting serve the public interest?

Accounting for the OPEBs: Does better accounting serve the public interest?

In 1992, the Financial Accounting Standards Board (FASB) issued SFAS 106 "Employers' Accounting for Postretirement Benefits Other than Pensions." SFAS 106 requires public companies to account for post-retirement benefits other than pensions on an accrual basis. While SFAS 106 is good...

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Veröffentlicht in:Journal of applied business research 1995-07, Vol.11 (3), p.1
Hauptverfasser: Pearson, Timothy A, Jerris, Scott I, Brooks, Richard
Format: Artikel
Sprache:eng
Schlagworte:
Accrual basis accounting
Economic impact
Employees
Employers
FASB statements
Financial accounting standards
Health care expenditures
Health care policy
Other postemployment benefits
Public interest
Retirees
SFAS 106
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Zusammenfassung:In 1992, the Financial Accounting Standards Board (FASB) issued SFAS 106 "Employers' Accounting for Postretirement Benefits Other than Pensions." SFAS 106 requires public companies to account for post-retirement benefits other than pensions on an accrual basis. While SFAS 106 is good accounting, it provides corporations with an excellent excuse to amend or terminate health care coverage for retirees. The economic and social consequences of SFAS 106 are discussed as well as the politics of the accounting standard setting process.
ISSN:0892-7626
2157-8834