Statement No. 25. Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans (Issued 11/94) SUMMARY. This Statement establishes financial reporting standards for defined benefit pension plans and for the notes to the financial statements of defined contribution plans of state and local governmental ...

About the GASB. Standard-Setting Process; Post-Implementation Review Process; Board Members. Senior Staff. Governmental Accounting Standards Advisory Council. ... GASB STATEMENT NO. 25, FINANCIAL REPORTING FOR DEFINED BENEFIT PENSION PLANS AND NOTE DISCLOSURES FOR DEFINED CONTRIBUTION PLANS (SUPERSEDED)

Financial Reporting for Pension Plans—an amendment of GASB Statement No. 25 Issued June 2012 Effective Date: The provisions of Statement 67 are effective for financial statements for fiscal years beginning after June 15, 2013.

The Governmental Accounting Standards Board Statements (GASB Statements or GASBS) are issued by GASB to set generally accepted accounting principles (GAAP) for state and local governments in the United States of America. These statements are the most authoritative source for governmental GAAP.

Since the release of Statements 25, 26, and 27 in November 1994, many questions have been posed to GASB staff regarding the implementation of these Statements and their application in various plan and employer reporting

GASB Statement 67 (PDF) replaces the requirements of the existing GASB Statement 25 (PDF), Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans, effective for fiscal years beginning after June 15, 2013.

Feb 3, 2022 · GASB 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans. Issued in November 1994 and superseded by GASB Statements No. 34, 43, 50, 54, 72, 73, and 74.

Nov 14, 2012 · GASB Board approved final statements amending pension accounting and financial reporting requirements on June 25, 2012 • GASB Statement No. 25: –Financial Reporting for Pension Plans –Amended by GASB Statement No. 67 • GASB Statement No. 27: –Accounting for Pensions by Employers –Amended by GASB Statement No. 68 GASB 67 and 68 1

Governmental Accounting Standards Board (GASB) Statement No. 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans Issues Resolution Memo No. 25.1

In GASB 101 there are references to “Termination” which refers to the end of an employee’s active service including involuntary ... GASB Statement 101 25 Compensated Absences – Flow assumption example July-June Year of Employment Days Earned FIFO Balance LIFO Balance 2020-2021 Year 1 12 0 12 2021-2022 Year 2 12 9 12