Editing Financial Accounting Standards Board (section)

=== Pensions ===
In late 2006, the FASB issued ''Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans'' (statement 158). Under this update, if a pension or other post-retirement plan is overfunded, a company must recognize that overfunded amount as an asset, which can be reduced later if the plan becomes underfunded. Conversely, if a plan is underfunded, a company must recognize that underfunded amount as a liability, which can be reduced if a plan's funding increases in a period.  These asset or liability determinations are recognized at the employer's year end in the same year that the plan funding takes place.<ref name="Pensions">{{cite web|title=FASB Improves Employer Pension & Postretirement Plan Accounting|url=https://www.accountingweb.com/practice/practice-excellence/fasb-improves-employer-pension-postretirement-plan-accounting|website=AccountingWEB|access-date=1 November 2017|language=en-gb|date=4 October 2006}}</ref>

These enhancements were made in order to provide employees, investors, retirees, and users of financial statements more complete information about the status of a pension or other post-retirement plan, which is used to make informed decisions about organizations capabilities to fulfill plan obligations.<ref name="Pensions" />