Financial Accounting Standards Board (fasb) 106

Definition of "Financial accounting standards board (fasb) 106"

Kim Heinz real estate agent

Written by

Kim Heinzelite badge icon

Illustrated Properties

New pension-accounting rule (Employers Accounting for Post retirement Benefits Other Than Pensions) which mandates that employers that provide post retirement benefits to include life insurance, medical, or dental begin accruing an expense against current income for the expected future cost of such benefits. Additionally, the employer must list on the balance sheet a liability entry reflecting the total expected amount to be owed for the future benefit cost.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Insurance company that has the authority to assess or charge its policyholders for losses that the company is incurring. This company is sometimes called stipulated premium company or ...

Protection in the event of accidental discharge, leakage, or overflow of water from plumbing systems, heating, air conditioning, and refrigerating systems, and rain or snow through broken ...

Payment to an insurance agent in addition to commissions. Expense allowances, that differ from company to company, vary with the amount of business agents place with that company and the ...

Policy provision that provides coverage for continuing payroll expense of all employees of an insured business (except for officers and executives) for the first specified number of days of ...

Company organized with the business objective of providing claims adjustment services to insurance companies that do not have an internal claims department. ...

Liability coverage for dockworkers for damage to property in transit while in their care. ...

Formerly an employer's defense under which an injured employee had to bring a cause for action against the fellow employee causing the injury, not the employer. Workers Compensation laws ...

Period of time an insured is sick and entitled to receive health insurance benefits. ...

Injury covered under workers compensation insurance. For every part of the body that may be injured, there is a listed financial sum that will be paid. For example, a right severed index ...

Popular Insurance Questions