report needed for FAS 158 compliance from Worksheets 1-4 and Schedules A-F to
Standard Pension Audit Confirmation Letter Responses!
DATAIRís FAS 158 Module generates
the complex schedules, worksheets and Standard Pension Audit Confirmation
Letters to satisfy annual accounting requirements easily with remarkably
little input. FAS 158 will assist you in. . .
- Preparing client-ready
financial statements showing the status of a retirement plan, as determined
under Financial Accounting Standards 87/132/158
- Presenting the valuation
results to the plan sponsor and providing the auditor with reports
explaining all of the factors contributing to the pension costs and
liabilities such as the covered group, the plan provisions, assumptions,
method of determining unrecognized gain or loss and adjustments
is so easy, it can be an additional source of revenue, another valuable service
you can offer your clients ó and their auditors. Our system is designed to
produce everything needed to comply with FAS 158 (in essence, to do a large part
of the auditorís job for FAS 158 compliance).
Simple Data Input
The user inputs a
modest array of items on "smart" screens which automatically eliminate
non-essential questions based on the plan design and on whether this is the
first or a subsequent year of using FAS 158. Valuation results (Pension
Benefit Obligation (PBO), Accumulated Benefit Obligation (ABO) and Service Cost)
and other information may be entered from any source (such as DATAIRís Defined
Benefit System). After the first year, FAS 158 will update the previous
yearís information, advance dates by one year, reduce unrecognized balances by
one yearís amortization, and role forward last years ending values to become
this yearís beginning values.
FAS 158 Statements, Reports and
- Response to a Standard Pension
Audit Confirmation Letter
- Worksheets 1 through 4
- Schedules A through F
provides you with a complete package, ready for signature and mailing to even
the most demanding auditor.
FAS 158 is a module of DATAIR's
Pension Reporter system and shares the same