Under proposed GASB standards, accounting for other postemployment benefits OPEB would

Question

Quizplus · Accepted Answer

Proposed GASB standards would require governments to report actuarially required contributions as OPEB expense, regardless of whether these contributions are actually made by the government. This would encourage governments to make the contributions required to fulfill their OPEB obligations and improve transparency in financial reporting. Choice A is incorrect because the proposed standards would not continue to permit pay-as-you-go funding. Choice C is incorrect because the proposed standards would not base OPEB costs on FASB Statement No.106. Choice D is incorrect because the proposed standards would require more than just disclosure of estimated OPEB liabilities.

Under Proposed GASB Standards, Accounting for Other Postemployment Benefits OPEB