ASC 715 Compensation—Retirement Benefits: Fid-Bau Portal

ASC 715 Compensation—Retirement Benefits

Flood, Joanne M

This chapter focuses on accounting for postretirement benefits. The accounting for such arrangements is complex. Although the Codification is generally based on an asset and liability model, the foundation content of ASC 715 is based on an expense recognition model. Expense recognition models focus on remeasurement. ASC 715, Compensation‐Retirement Benefits, contains six subtopics. The first is ASC 715‐10, Overall, which sets the objectives and the scope for ASC 715. ASC 715‐20, Defined Benefit Plans—General, provides guidance on the presentation and disclosure requirements for single‐employer defined benefit pension and other postretirement plans. ASC 715‐30, Defined Benefit Plans—Pension, provides accounting guidance related to single‐employer defined benefit pension plans. ASC 715‐60, Defined Benefit Plans—Other Postretirement, provides guidance on single‐employer defined benefit plans other than postretirement benefit plans. ASC 715‐70, Defined Contribution Plans, provides guidance on defined contribution Plans. ASC 715‐80, Multiemployer Plans, provides guidance on multi‐employer plans as opposed to multiple employer plans.