UPDATE 1-New FASB standard revamps pension accounting

Newswire

(Adds quote, byline, background details) By Emily Chasan NEW YORK, Sept 29 (Reuters) - The Financial Accounting Standards Board, which sets U.S. accounting rules, on Friday issued a new standard for pension and other retiree benefit accounting that is likely to move billions in liabilities onto corporate balance sheets. The new rule requires companies to place their projected benefit obligations for pensions and other retiree benefits on corporate balance sheets, instead of in ...

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