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Complete Case details are given below :
Case Name : International Paper (A)
Authors : Mary E. Barth, Charles A. Nichols
Discipline : Accounting
Case Length : 10 pages
Solution sample availability : YES
Plagiarism : NO (100% Original work)
Description for case is given below :
Concerns the decision of International Paper, the world's largest pulp and paper corporation, about when to adopt the provisions of Statement of Financial Accounting Standards 106 (SFAS 106), "Employers' Accounting for Postretirement Benefits Other than Pensions." SFAS 106 requires the accrual of a significant balance sheet liability to recognize the future cost of promises made to employees to pay for benefits during retirement, most importantly for health insurance benefits. Compared to the prevailing "pay-as-you-go" accounting, the provisions of SFAS 106 typically require a higher annual expense for "other postemployment benefits" (OPEB). Set in late November 1992, a year after the Financial Accounting Standards Board (FASB) announced the final form of SFAS 106. Application of the new rules was required for fiscal years beginning after December 15, 1992, but as usual earlier adoption was encouraged. In addition, on adoption of the new standard companies were given the option of either recognizing the liability for accrued benefits immediately, or gradually over a period of up to twenty years. Thus, IP was faced with decisions both of when and how to adopt SFAS 106.
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