What FAS 112?

What FAS 112?

FAS 112 Summary This Statement establishes accounting standards for employers who provide benefits to former or inactive employees after employment but before retirement (referred to in this Statement as postemployment benefits).

What is FAS 123R expense?

FAS 123R is the 2006 financial accounting standard introduced by the Financial Accounting Standards Board (FASB) that requires companies to deduct the amount of share-based (equity) payment granted to their employees on an annual basis.

Did ASC replace FAS?

The accounting profession experienced a major change on July 1, 2009, when the Financial Accounting Standards Board (the FASB) launched the FASB Accounting Standards Codification (the FASB ASC). From now on, instead of issuing new standards (e.g., FAS 109), the FASB will issue updates to the FASB ASC.

What superseded FAS 125?

FAS 125 supersedes Statement No. 122, “Accounting for Mortgage Servicing Rights” (FAS 122), which was effective prospectively for fiscal years beginning after December 15, 1995.

What is FAS 106 called now?

FAS 106 means Financial Accounting Standards Board Statement No. 106. FAS 106 means Financial Accounting Standard 106. “FCC” has the meaning set forth in Section 3.03.

What FAS 87?

The Financial Accounting Standards Board (FASB) issued Statement Number 87, “Employers’ Accounting for Pensions”, in December 1985, setting standards of financial accounting and reporting for employers who offer pension benefits to their employees.

Is FAS 133 still in effect?

FAS 133 is effective for fiscal years beginning after June 15, 2000. Most companies will delay adopting FAS 133 until January 1, 2001, when adoption is required.

When did FAS 123 become effective?

In 2003, the Federal Accounting Standards Board (FASB) declared that all companies must expense the value of their employees’ stock options in accordance with SFAS 123, and in the first fiscal year subsequent to June 15, 2005, SFAS 123 commenced.

What replaced FAS 5?

5: Accounting for Contingencies (FAS 5), the original FASB pronouncement, superseded by the substantively same FASB Accounting Standards Codification (ASC) subtopic 450 -20, Contingencies: Loss Contingencies, is a principal source of guidance on accounting for impairment in a loan portfolio under GAAP.

What FAS 131?

FAS 131: Disclosures about Segments of an Enterprise and Related Information.

What is SFAS 106?

Under FASB SFAS 106, “Employers Accounting for Postretirement Benefits Other Than Pensions,” companies providing such postretirement benefits will have to begin to accrue the expected future costs of such benefits over the employment period of employees, much as is now required under SFAS 87 for retirement plans.