There is no escape from FRS 17 (TT Mar02 p29-30)

The Treasurer March 2002

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FRS 17 magnifies the importance that defined benefit pension schemes assume within companies’ accounts. It is a big departure from SSAP 24, the previous accounting standard covering retirement benefits. FRS 17 reflects the trend towards balance sheet-driven accounting compared with SSAP 24, where more emphasis was placed on the company’s profit and loss (P&L) account.

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