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Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
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Search the News Archive
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67 Matching News Items |
| 1. |
Eric Rothenburg in The CPA Journal
Dec. 14, 2006
Excerpt: The May 2006 CPA Journal's theme of Social Security reform was timely and relevant. It addressed the Social Security insolvency problem, noted the issue of the fund's being insolvent earlier than most government economists had forecast, and discussed possible solutions. However, the articles were somewhat unbalanced. They were skewed toward high-net-worth individuals and ignored the lower and middle classes.
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| 2. |
The CPA Journal via The New York State Society of Certified Public Accountants
Aug. 8, 2007
Excerpt: FASB believes that SFAS 158 will result in a more complete, comparable, and representationally faithful presentation of postretirement benefit plans. The cost of implementation should be minimal, but the impact on future postretirement plan policies and practices, cost of capital computations, and labor negotiations may be significant. What is certain is that, just like SFAS 106, SFAS 158 will be a significant item of discussion in corporate boardrooms.
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| 3. |
The CPA Journal
May 10, 2013
"On a basic level, GASB Statement 68 requires that the difference between a plan's assets (the plan net position) and the present value of projected benefits for past service (total pension liability) be reported as a net pension liability in accrual-based financial statements. In addition, the standard provides new guidance on how to measure a plan's assets, total pension liability, and pension expense."
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| 4. |
The CPA Journal via The New York State Society of Certified Public Accountants
Sept. 13, 2006
Excerpt: Unlike FSAs, earnings on HSAs are tax free, provided that the earnings remain in the account or are used for qualified medical expenses. An obvious improvement over previous plans is that amounts not distributed for qualified medical expenses by the end of the plan year can be carried over without negative tax consequences.
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| 5. |
The CPA Journal via The New York State Society of Certified Public Accountants
May 11, 2007
Excerpt: GASB's new accounting rules require that municipalities measure, recognize, and disclose future obligations for providing other postemployment benefits (OPEB), mainly healthcare. This process will be phased in over a three-year period, starting with the largest states and cities.
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| 6. |
The CPA Journal via The New York State Society of Certified Public Accountants
Aug. 7, 2007
Excerpt: The disclosures required under the previous rules did not adequately reflect how executive compensation packages have evolved and increased in complexity over time. The amended rules are intended to better disclose these new forms of compensation and provide sufficient flexibility to address additional forms and types of compensation as developed in the future.
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| 7. |
The CPA Journal
May 8, 2017
"Underfunding, questionable investment decisions, imperfect assumptions on future market returns, declining interest rates, and the structure of defined benefit plans have created a fiscal crisis for many public pension funds. The implementation of several recent GASB pronouncements has made these problems more apparent and distinct to the public. The authors examine the current reporting challenges, describe the approaches taken by some governments, and suggest their own potential solutions."
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| 8. |
The CPA Journal via The New York State Society of Certified Public Accountants
Sept. 7, 2007
Excerpt: How can companies like GM and Ford advance-fund their OPEB liabilities and at the same time continue to invest additional resources into developing new energy-saving automobiles? The authors propose the use of government-guaranteed bonds as a means of stopping the financial hemorrhaging of American automakers that are burdened by OPEB liabilities.
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| 9. |
The CPA Journal
June 16, 2004
Excerpt: The theoretical argument against expensing stock options hinges on the entity concept. This argument is presented in more detail below. Regardless of one's conclusions about stock option expenses, the debate points up a problem in applying the entity concept in its purest form: The transactions of the entity should be accounted for separately from its owners'.
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| 10. |
The CPA Journal via The New York State Society of Certified Public Accountants
May 10, 2007
"Disclosure in the notes to the financial statements has often been used as a compromise solution to difficult issues, and pension accounting is such an example. In the wake of the Enron bankruptcy, however, the days of this form of compromise appear numbered."
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