Archive for October 12th, 2021

Accounting for Disability Insurance Coverage

By Scott Gray October 12, 2021

Statement No. 112 of the Financial Accounting Standards Board, popularly referred to as FASB 112, is a critical post-employment standard for employers to be aware of. FASB 112 requires employers to hold any post-employment benefits as a liability on their balance sheet. And not just the current benefit being paid, but the ESTIMATED TOTAL of that liability..