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Whether you are preparing financial statements or auditing those financial statements, this Practice Aid will help you identify the applicable reporting requirements that you need to know and apply.
This essential resource is designed to save you countless research hours, and reduce the risk of noncompliance. It guides you in overcoming the complexities of financial statement preparation by helping you:
- Ensure that all U.S. GAAP, as promulgated by FASB, disclosure requirements for employee benefit plans financial statement are met.
- Confirm that Auditor's Reports are in compliance with the new Clarified Auditing Standards.
- Understand the application of financial reporting standards using the illustrative employee benefit plans financial statements.
- Reduce the risk of noncompliance with ERISA.
- Master the complexities of financial statement preparation for defined contribution retirement plans.
Updated as of March 1, 2013, this checklist has been updated to reflect changes from the ASB Clarity Project and includes applicable FinREC recommendations throughout.
In addition, it includes the most comprehensive U.S. GAAP disclosure guidance available, and helpful illustrative financial statements and Auditor's Reports. It allows you to document the applicability of each requirement and reference the working papers where the support to a disclosure can be found.
Updates to this edition include authoritative pronouncements and interpretations issued as of March 31, 2013, including: FASB ASU No. 2011-04, Fair Value measurement (Topic 820): Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs and FASB ASU No. 2012-04, Technical Corrections and Improvements.
Purchasers of the online format can download the checklist content into Microsoft Word for added flexibility.