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FASB Backs Off Again on Controversial Rule Proposals

Tammy Whitehouse | November 11, 2010

Yet another controversial accounting proposal is moving off the charts for the 2010 reporting year after the Financial Accounting Standards Board determined it needs more time to work on new rules around multiemployer pension plans. On a related note, the board also determined it will hold off on any further rulemaking around loss contingency disclosures to see first whether companies improve their disclosures under existing rules.

The FASB published a proposed accounting standards update calling for more disclosure about a company’s participation in and risks related to multiemployer pension plans, like union plans, with an eye toward making it effective for fiscal years ending after Dec...

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