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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

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FASB To Consider Pensions
Location: BlogsAAO Weblog (Public)    
Posted by: Jack Ciesielski 6/23/2005 5:51 AM
The SEC's off-balance sheet report, barely more than a week old, is already having some effect: the FASB is considering adding a pension accounting overhaul to their agenda.

In an interview with the New York Times, FASB chairman Robert Herz indicated that the staff would research issues regarding the sweep of such a project, and hopefully complete the fact-finding in time for the Board to vote "go-no go" on the project by early fall.

Plenty of room for improvement; there are so many artificial volatility-levelers in the current accounting that weeding them out wouldn't be hard, making this one a genuine simplification project. If the project goes ahead, it'll be interesting to see what remains of the old accounting devices. Just don't hold your breath, because it will not be a high-speed effort.
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