Statement of Position for Health and Welfare Benefit Plans Issued.

• Position: Brief Article

Statement of Position 01-2, Accounting and Reporting by Health and Welfare Benefit Plans (No. 014929CPA06), has been issued by the Accounting Standards Executive Committee. This SOP amends chapter 4 of the AICPA Audit and Accounting Guide Audits of Employee Benefit Plans, and SOP 92-6, Accounting and Reporting by Health and Welfare Benefit Plans.

Among other things, this SOP:

* Specifies the presentation requirements for benefit obligations information. (It allows information about the benefit obligations to be presented in a separate statement, combined with other information on another financial statement, or presented in the notes to the financial statements.)

* Requires disclosure of information about retirees' relative share of the plan's estimated cost of providing post-retirement benefits.

* Clarifies the measurement date for benefit obligations.

* Establishes standards of financial accounting and reporting for post-employment benefits provided by health and welfare...