Diana J. Scott, Principal and Consultant with Towers Perrin to Speak at the Knowledge Congress’ Event on FAS 158 Pension & Postretirement Accounting on December 7, 2007
New York, NY, November 17, 2007 --(PR.com)-- The Knowledge Congress, the leading producer of regulatory focused teleconferences has announced today that Diana J. Scott, CPA, Principal and Consultant, Technical Services Group with Towers Perrin will speak at the Knowledge Congress’ upcoming teleconference entitled: “Statement 158 Pension & Postretirement Accounting”. This 2-hour event is scheduled for December 7, 2007, Friday, at 1:00 PM - 3:00 PM EDT. (For further details of the event and an updated list of panelists, please visit: http://www.knowledgecongress.org/event_2007_fasb158.htm)
In September 2006, the FASB issued FASB Statement No. 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans. This new standard requires plan sponsors to:
Recognize the overfunded/underfunded status of a benefit plan on the employer’s balance sheet
Measure a plan’s assets and obligation as of the end of the employer's fiscal year
The deadline for recognizing the funded status in the financial statements was effective as of the end of the fiscal year ending after December 15, 2006 for public companies and at the end of the fiscal year ending after June 15, 2007 for all other companies. The use of fiscal year end as the measurement date is required for fiscal years ending after December 15, 2007.
The Knowledge Congress has assembled a panel of widely distinguished experts and industry thought leaders to help companies understand the new accounting rule. The panel will present their findings, which includes best practices, in a live two-hour teleconference.
About Diana J. Scott
Diana J. Scott is a Principal and Consultant in Towers Perrin's Technical Services group, serving in a leadership capacity as a global resource on accounting and financial reporting issues. In that role, Diana focuses on postemployment and postretirement benefits, and other deferred compensation and stock-based compensation arrangements, including the implications of transactions and events affecting those costs and obligations. She also is the Issue Leader on accounting topics for Canada and a key member of Towers Perrin’s Benefits Accounting Standards Group – Europe. In those roles, she provides accounting training and guidance, prepares issues papers addressing the FAS and IFRS implications of benefits transactions, and consults with US and non-US offices on accounting and financial reporting issues.
Diana maintains ongoing contact with the FASB, members of the EITF, the Offices of the Chief Accountant and Corporation Finance of the SEC, and the IASB, and monitors their activities relevant to the firm's practices in the employee benefits and executive compensation areas. Diana is presently serving on the IASB’s Employee Benefits Working Group. She served on the FASB’s FAS 123R Implementation Issues Resource Group, and consults with the IASB and FASB staff working on issues affecting the accounting for pensions and other postretirement benefits.
Prior to joining Towers Perrin in 1991, Diana was a project manager on the research and technical activities staff of the Financial Accounting Standards Board for five years. Her primary responsibility was the research and development of FASB Statement No. 106, Employers' Accounting for Postretirement Benefits Other Than Pensions. Diana also consulted on implementation issues relating to the pension accounting requirements of FASB Statements No. 87 and 88.
Prior to joining the FASB, Diana was a senior audit manager in the national office of Price Waterhouse. In that capacity, Diana consulted with the firm's partners and managers on accounting issues and created reference and continuing education materials. She also spent several years in the Pittsburgh office managing multi-national audit engagements.
Diana has co-authored chapters on accounting for pensions and postretirement benefits other than pensions in the Corporate Controllers Handbook. She also has written several articles and spoken frequently on compensation- and benefits-related accounting issues.
Diana received her Bachelor of Arts degree in business administration from Wittenberg University in Springfield, Ohio. She is a certified public accountant and a member of the American Institute of CPAs.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations around the world optimize performance through effective people, risk and financial management. The firm provides innovative solutions to client issues in the areas of human resource strategy, design and management; actuarial and management consulting to the financial services industry; and reinsurance intermediary services.
For more information about Diana J. Scott and Towers Perrin, please visit: http://www.towersperrin.com
About The Knowledge Congress
The Knowledge Congress is an organization that produces teleconferences that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour teleconferences to study the impact of changing regulations.” To contact or to register to an event, please visit: www.knowledgecongress.org.
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In September 2006, the FASB issued FASB Statement No. 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans. This new standard requires plan sponsors to:
Recognize the overfunded/underfunded status of a benefit plan on the employer’s balance sheet
Measure a plan’s assets and obligation as of the end of the employer's fiscal year
The deadline for recognizing the funded status in the financial statements was effective as of the end of the fiscal year ending after December 15, 2006 for public companies and at the end of the fiscal year ending after June 15, 2007 for all other companies. The use of fiscal year end as the measurement date is required for fiscal years ending after December 15, 2007.
The Knowledge Congress has assembled a panel of widely distinguished experts and industry thought leaders to help companies understand the new accounting rule. The panel will present their findings, which includes best practices, in a live two-hour teleconference.
About Diana J. Scott
Diana J. Scott is a Principal and Consultant in Towers Perrin's Technical Services group, serving in a leadership capacity as a global resource on accounting and financial reporting issues. In that role, Diana focuses on postemployment and postretirement benefits, and other deferred compensation and stock-based compensation arrangements, including the implications of transactions and events affecting those costs and obligations. She also is the Issue Leader on accounting topics for Canada and a key member of Towers Perrin’s Benefits Accounting Standards Group – Europe. In those roles, she provides accounting training and guidance, prepares issues papers addressing the FAS and IFRS implications of benefits transactions, and consults with US and non-US offices on accounting and financial reporting issues.
Diana maintains ongoing contact with the FASB, members of the EITF, the Offices of the Chief Accountant and Corporation Finance of the SEC, and the IASB, and monitors their activities relevant to the firm's practices in the employee benefits and executive compensation areas. Diana is presently serving on the IASB’s Employee Benefits Working Group. She served on the FASB’s FAS 123R Implementation Issues Resource Group, and consults with the IASB and FASB staff working on issues affecting the accounting for pensions and other postretirement benefits.
Prior to joining Towers Perrin in 1991, Diana was a project manager on the research and technical activities staff of the Financial Accounting Standards Board for five years. Her primary responsibility was the research and development of FASB Statement No. 106, Employers' Accounting for Postretirement Benefits Other Than Pensions. Diana also consulted on implementation issues relating to the pension accounting requirements of FASB Statements No. 87 and 88.
Prior to joining the FASB, Diana was a senior audit manager in the national office of Price Waterhouse. In that capacity, Diana consulted with the firm's partners and managers on accounting issues and created reference and continuing education materials. She also spent several years in the Pittsburgh office managing multi-national audit engagements.
Diana has co-authored chapters on accounting for pensions and postretirement benefits other than pensions in the Corporate Controllers Handbook. She also has written several articles and spoken frequently on compensation- and benefits-related accounting issues.
Diana received her Bachelor of Arts degree in business administration from Wittenberg University in Springfield, Ohio. She is a certified public accountant and a member of the American Institute of CPAs.
About Towers Perrin
Towers Perrin is a global professional services firm that helps organizations around the world optimize performance through effective people, risk and financial management. The firm provides innovative solutions to client issues in the areas of human resource strategy, design and management; actuarial and management consulting to the financial services industry; and reinsurance intermediary services.
For more information about Diana J. Scott and Towers Perrin, please visit: http://www.towersperrin.com
About The Knowledge Congress
The Knowledge Congress is an organization that produces teleconferences that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour teleconferences to study the impact of changing regulations.” To contact or to register to an event, please visit: www.knowledgecongress.org.
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The Knowledge Congress
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
Thomas LaPointe, Jr., Executive Director
1.800.578.4370
www.knowledgecongress.org
Therese Lumbao, Director
Account Management & Member Services
tlumbao@knowledgecongress.org
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