Employee Benefit Plans: Audit and Accounting Guide

This guide summarizes new standards, guidance, and practices, and delivers "how-to" advice for handling audit and accounting issues common to the employee benefit plan industry.

Updated as of January 1, 2011, the guide includes relevant guidance contained in applicable standards and other technical sources. Included in this guide is an overview of statutory rules and regulations and the financial reporting requirements of the Employee Retirement Income Security Act of 1974 (ERISA), fair value disclosure requirements and a detailed listing of other required financial statement disclosures.

The guide offers clear and practical guidance on recent developments in areas such as:

• updates to disclosure requirements related to assets and liabilities measured at fair value
• updates to guidance for loans to participants

All content is reviewed by industry experts and approved by the appropriate AICPA senior technical committee(s).

Updates significant to this edition include technical guidance contained in:

• FASB Accounting Standards Update (ASU) No. 2010-06, Improving Disclosures about Fair Value Measurements (FASB ASC 820)
• FASB ASU No. 2010-25, Reporting Loans to Participants by Defined Contribution Pension Plans (FASB ASC 962)
• FASB Statement No. 166, Accounting for Transfers of Financial Assets and Extinguishments of Liabilities—a replacement of FASB Statement No. 125(FASB ASC 860)

For a topical listing of subject matter by chapter, click on the Table of Contents tab.

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