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ARTICLE · 10 FEBRUARY 2016

Improving Presentation And Disclosure For Defined Benefit Plan Sponsors

Grant Thornton LLP
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The FASB recently issued a proposed ASU, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost...

United StatesAccounting and Audit
Grant Thornton LLP'S National Professional Standards Group (NPSG)
Grant Thornton LLP'S National Professional Standards Group (NPSG)
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Proposed guidance aims to increase transparency

 Overview

The FASB recently issued a proposed ASU, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, to improve how defined benefit plan sponsors present benefit costs in the income statement. At the same time, the Board also issued a proposed ASU, Changes to the Disclosure Requirements for Defined Benefit Plans, to modify the disclosure requirements for defined benefit plan sponsors.

The Board will determine the effective dates for both proposals and decide whether to permit early adoption after it considers stakeholders' feedback. Stakeholders have until April 25 to comment on the proposals.

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