The Financial Accounting Standards Board has finalized its work on a new accounting standard that will require companies to disclose more in their financial statements about their obligations to fund pension benefits through multiemployer pension plans, such as union plans.
FASB expects to issue the final standard in September so that it can become effective for fiscal years ending after Dec. 15, 2011. That means calendar-year companies will generally adopt the new requirements in their 2011 financial statements.
