FASB (Financial Accounting Standards Board) proposal changes retiree healthcare benefit accounting.
The Financial Accounting Standards Board (FASB) recently issued an exposure draft (ED) of a standard that would change the way organizations account for their employees' post-retirement healthcare benefits. According to the ED, organizations would have to switch from cash accounting to accrual accounting for post-retirement benefits as well as record their retiree healthcare liabilities on their balance sheets by 1992.
D000066:Accounting / Q000592:standards*; D003365:Costs and Cost Analysis / Q000592:standards; D006264:Health Benefit Plans, Employee / Q000191:economics*; D006296:Health Services / Q000145:classification; D007348:Insurance, Health / Q000191:economics*; D010415:Pensions; D012015:Reference Standards; D012179:Retirement; D014481:United States