A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
ASC 712 COMPENSATON—NONRETIREMENT POST‐EMPLOYMENT BENEFITS
This chapter provides definitions of terms included in ASC 712, discusses its perspectives and issues, and describes the concepts, and rules, along with examples. ASC 712 provides guidance for employers that provide benefits for former or inactive employees after the employees' termination. These benefits may include counseling, pay continuation, continuation of health care benefits, etc. The FASB sees these as benefits provided in exchange for service. ASC 712‐10, Overall, which provides guidance and links to other Topics containing guidance on nonretirement postemployment benefits. Benefits are offered for a short period of time in exchange for employees' voluntary termination of service. ASC 712 applies the criteria set forth by ASC 710, Compensation‐General, to accrue an obligation for postemployment benefits other than pensions if: services have been performed by employees, employees' rights accumulate or vest, payment is probable, and the amount can be reasonably estimable.
ASC 712 COMPENSATON—NONRETIREMENT POST‐EMPLOYMENT BENEFITS
This chapter provides definitions of terms included in ASC 712, discusses its perspectives and issues, and describes the concepts, and rules, along with examples. ASC 712 provides guidance for employers that provide benefits for former or inactive employees after the employees' termination. These benefits may include counseling, pay continuation, continuation of health care benefits, etc. The FASB sees these as benefits provided in exchange for service. ASC 712‐10, Overall, which provides guidance and links to other Topics containing guidance on nonretirement postemployment benefits. Benefits are offered for a short period of time in exchange for employees' voluntary termination of service. ASC 712 applies the criteria set forth by ASC 710, Compensation‐General, to accrue an obligation for postemployment benefits other than pensions if: services have been performed by employees, employees' rights accumulate or vest, payment is probable, and the amount can be reasonably estimable.
ASC 712 COMPENSATON—NONRETIREMENT POST‐EMPLOYMENT BENEFITS
Flood, Joanne M. (editor)
2015-12-02
2 pages
Article/Chapter (Book)
Electronic Resource
English
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