Chapter 39ASC 712 COMPENSATON—NONRETIREMENT POST-EMPLOYMENT BENEFITS
PERSPECTIVE AND ISSUES
Subtopic
ASC 712, Compensation—Nonretirement Postemployment Benefits, contains one Subtopic:
- ASC 712-10, Overall, which provides guidance and links to other Topics containing guidance on nonretirement postemployment benefits.
Overview
ASC 712 provides guidance for employers that provide benefits for former or inactive employees after the employees' termination. These benefits may include counseling, pay continuation, continuation of health care benefits, etc. The FASB sees these as benefits provided in exchange for service.
DEFINITIONS OF TERMS
Inactive Employees. Employees who are not currently rendering service to the employer and who have not been terminated. They include those who have been laid off and those on disability leave, regardless of whether they are expected to return to active status.
Nonretirement Postemployment Benefits. All types of benefits, other than those provided through a pension or other postretirement plan (see Subtopics 715-30 and 715-60), provided to former or inactive employees, their beneficiaries, and covered dependents.
Other Postemployment Benefits. Benefits, other than special or contractual termination benefits, that are provided by an employer to former or inactive employees after employment but before retirement including benefits provided to ...
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