About 'ifrs 1'|IFRS ——- What is IFRS

Ｔｈｅ               ｆｉｒｓｔ               ｐｅｎｓｉｏｎ               ｐｌａｎ               ｏｆｆｅｒｅｄ               ｂｙ               ａｎ               Ａｍｅｒｉｃａｎ               ｅｍｐｌｏｙｅｒ               ｗａｓ               ｔｈａｔ               ｏｆ               Ａｍｅｒｉｃａｎ               Ｅｘｐｒｅｓｓ               ｉｎ               ｔｈｅ               ｙｅａｒ               1875.

Ａｍｅｘ'ｓ               ｐｌａｎ               ｄｉｄ               ｎｏｔ               ｒｅｓｅｍｂｌｅ               ｔｈｅ               ｐｌａｎｓ               ｔｈａｔ               ｗｅ               ｓｅｅ               ｉｎ               ｔｏｄａｙ'ｓ               ｔｉｍｅ;               ｔｈｅ               ｆｉｒｓｔ               "ｍｏｄｅｒｎ"               ｄｅｆｉｎｅｄ               ｂｅｎｅｆｉｔ               ｐｌａｎ               ｗａｓ               ｃｒｅａｔｅｄ               ｉｎ               1940               ｂｙ               ｔｈｅ               ａｕｔｏｍｏｔｉｖｅ               ｂｅｈｅｍｏｔｈ               Ｇｅｎｅｒａｌ               Ｍｏｔｏｒｓ.

Ｔｈｅｓｅ               ｐｌａｎｓ               ｏｆ               ｔｈｅ               ｐａｓｔ               ｓｔｉｌｌ               ｄｏ               ｎｏｔ               ｒｅｓｅｍｂｌｅ               ｐｌａｎｓ               ｔｈａｔ               ｗｅ               ａｒｅ               ｆａｍｉｌｉａｒ               ｗｉｔｈ               ｔｏｄａｙ.

Ｉｎ               ｔｈｅ               ｐａｓｔ,               ｅｍｐｌｏｙｅｒｓ               ｃｏｕｌｄ               ｅｘｅｒｃｉｓｅ               ａ               "ｐｅｎｓｉｏｎ               ｐｕｔ"               ｏｐｔｉｏｎ               ａｎｄ,               ｉｎ               ｅｓｓｅｎｃｅ,               ｃｌｏｓｅ               ｔｈｅ               ｐｌａｎ               ｄｏｗｎ               ａｔ               ｔｈｅ               ｃｕｒｒｅｎｔ               ｌｅｖｅｌ               ｏｆ               ｆｕｎｄｉｎｇ               ａｎｄ               ｔｕｒｎ               ｔｈｅ               ａｓｓｅｔｓ               ｏｖｅｒ               ｔｏ               ｔｈｅ               ｒｅｔｉｒｅｅｓ.

Ｔｈｉｓ               ｉｓ               ｎｏｔ               ａｎ               ｏｐｔｉｍａｌ               ｓｉｔｕａｔｉｏｎ,               ａｓ               ｍａｎｙ               ｐｌａｎｓ               ａｔ               ｔｈｅ               ｔｉｍｅ               ｗｅｒｅ               ｓｅｖｅｒｅｌｙ               ｕｎｄｅｒ               ｆｕｎｄｅｄ               ａｎｄ               ｒｅｔｉｒｅｅｓ               ｗｏｕｌｄ               ｂｅ               ｌｅｆｔ               ｗｉｔｈ               ｐｅｎｎｉｅｓ               ｏｎ               ｔｈｅ               ｄｏｌｌａｒ               ｏｆ               ｗｈａｔ               ｔｈｅｙ               ｗｅｒｅ               ｃｏｕｎｔｉｎｇ               ｏｎ               ｆｏｒ               ｒｅｔｉｒｅｍｅｎｔ.

(Ｆｏｒｔｕｎｅ,               2005)               Ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ａｒｅ               ｖｏｌａｔｉｌｅ               ｏｎ               ａ               ｃｏｕｐｌｅ               ｏｆ               ｄｉｆｆｅｒｅｎｔ               ｆｒｏｎｔｓ;               ｕｐ               ｕｎｔｉｌ               ｔｈｅ               ｒｅｆｏｒｍｓ               ｉｎ               1974               ｗｈｉｃｈ               ｃｒｅａｔｅｄ               ＥＲＩＳＡ               ａｎｄ               ｔｈｅ               ＰＢＧＣ,               ｅｍｐｌｏｙｅｅｓ               ｈａｄ               ｔｏ               ｐｕｔ               ｂｌｉｎｄ               ｆａｉｔｈ               ｉｎ               ｔｈｅｉｒ               ｅｍｐｌｏｙｅｒｓ               ｔｏ               ｓｅｃｕｒｅ               ｔｈｅｉｒ               ｆｕｔｕｒｅｓ               ａｆｔｅｒ               ｔｈｅｉｒ               ｗｏｒｋｉｎｇ               ｙｅａｒｓ               ｗｅｒｅ               ｏｖｅｒ.

(Ｆｏｒｔｕｎｅ,               2005)               Ｏｎ               ａｎｏｔｈｅｒ               ｆｒｏｎｔ,               ｔｈｅｓｅ               ｂｅｎｅｆｉｔｓ               ｐｏｓｅ               ａ               ｓｉｇｎｉｆｉｃａｎｔ               ａｃｃｏｕｎｔｉｎｇ               ｐｒｏｂｌｅｍ               -               ｈｏｗ               ｓｈｏｕｌｄ               ａ               ｃｏｍｐａｎｙ               ａｃｃｏｕｎｔ               ｆｏｒ               ｔｈｅ               ｃｏｓｔｓ               ａｎｄ               ｌｉａｂｉｌｉｔｉｅｓ               ａｓｓｏｃｉａｔｅｄ               ｗｉｔｈ               ｔｈｅｓｅ               ｂｅｎｅｆｉｔｓ               ｔｈｅｙ               ｈａｄ               ｔｏ               ｇｉｖｅ               ｔｈｅｉｒ               ｅｍｐｌｏｙｅｅｓ               ａｔ               ａ               ｌａｔｅｒ               ａｎｄ               ｒｅｌａｔｉｖｅｌｙ               ｉｎｄｅｔｅｒｍｉｎａｂｌｅ               ｄａｔｅ?

Ｐｒｉｏｒ               ｔｏ               ＦＡＳ               87,               ｔｈｅ               ｏｎｌｙ               ｉｔｅｍ               ｔｈａｔ               ａ               ｃｏｍｐａｎｙ               ｗｏｕｌｄ               ｒｅｃｏｒｄ               ｏｎ               ｔｈｅｉｒ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ               ｗａｓ               ｔｈｅ               ａｃｔｕａｌ               ｂｅｎｅｆｉｔｓ               ｐａｉｄ               ｗｉｔｈｉｎ               ｔｈｅ               ａｃｃｏｕｎｔｉｎｇ               ｐｅｒｉｏｄ.

Ｔｈｅｒｅ               ｗｅｒｅ               ｎｏ               ｆｏｏｔｎｏｔｅ               ｄｉｓｃｌｏｓｕｒｅｓ               ｏｒ               ａｎｙ               ｏｔｈｅｒ               ｓｕｐｐｌｅｍｅｎｔａｌ               ｄａｔａ               ａｖａｉｌａｂｌｅ.
               Ｅｘｐｅｎｓｉｎｇ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ａｓ               ｉｎｃｕｒｒｅｄ               ｄｏｅｓ               ｎｏｔ               ｐｏｒｔｒａｙ               ｔｈｅ               ｅｃｏｎｏｍｉｃ               ｒｅａｌｉｔｙ               ｏｆ               ｔｈｅ               ｔｒａｎｓａｃｔｉｏｎｓ               ｓｕｒｒｏｕｎｄｉｎｇ               ｔｈｅ               ｐｅｎｓｉｏｎ.

Ｔｈｅｒｅ               ｉｓ               ａｎ               ｉｎｈｅｒｅｎｔ               ｌｉａｂｉｌｉｔｙ,               ａｓ               ｅｍｐｌｏｙｅｒｓ               ａｒｅ               ｒｅｑｕｉｒｅｄ               ｔｏ               ｐａｙ               ｔｈｅｉｒ               ｅｍｐｌｏｙｅｅｓ               ｔｈｅｓｅ               ｂｅｎｅｆｉｔｓ               ｉｎ               ｔｈｅ               ｆｕｔｕｒｅ.

Ｔｈｉｓ               ｓｈｏｕｌｄ               ａｆｆｅｃｔ               ｔｈｅ               ｖａｌｕｅ               ｏｆ               ａ               ｃｏｍｐａｎｙ               ｂｙ               ｉｎｃｒｅａｓｉｎｇ               ａ               ｌｏｎｇ-ｔｅｒｍ               ｐｅｎｓｉｏｎ               ｌｉａｂｉｌｉｔｙ               ａｎｄ               ｄｅｃｒｅａｓｉｎｇ               ｔｈｅ               ｎｅｔ               ｗｏｒｔｈ.

ＦＡＳ               87               ａｎｄ               ＦＡＳ               106               ｗｅｒｅ               ｔｈｅ               ｆｉｒｓｔ               ｅｆｆｏｒｔｓ               ｂｙ               ｒｅｇｕｌａｔｏｒｓ               ｔｏ               ａｔ               ｌｅａｓｔ               ｄｉｓｃｌｏｓｅ               ｔｈｅ               ａｍｏｕｎｔ               ｏｆ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔ               ｌｉａｂｉｌｉｔｉｅｓ.

Ｔｈｅ               ａｆｏｒｅｍｅｎｔｉｏｎｅｄ               ｐｒｏｎｏｕｎｃｅｍｅｎｔｓ,               ａｌｏｎｇ               ｗｉｔｈ               ＦＡＳ               132               ａｎｄ               132Ｒ,               ｒｅｑｕｉｒｅｄ               ｏｎｌｙ               ｆｏｏｔｎｏｔｅ               ｄｉｓｃｌｏｓｕｒｅｓ               ｒｅｌａｔｉｎｇ               ｔｏ               ｐｅｎｓｉｏｎ               ｌｉａｂｉｌｉｔｉｅｓ               ａｎｄ               ｕｎｄｅｒ               ｆｕｎｄｅｄ               ａｍｏｕｎｔｓ.
               Ｓｕｃｈ               ｄｉｓｃｌｏｓｕｒｅｓ               ｗｅｒｅ               ｎｏｔ               ｅｎｏｕｇｈ               ｆｏｒ               ｒｅｇｕｌａｔｏｒｓ;               ｉｎ               Ｓｅｐｔｅｍｂｅｒ               ｏｆ               2006               ｔｈｅ               ＦＡＳＢ               ｉｓｓｕｅｄ               ＦＡＳ               158               ｗｈｉｃｈ               "ｒｅｑｕｉｒｅｓ               ｅｍｐｌｏｙｅｒｓ               ｔｏ               ｆｕｌｌｙ               ｒｅｃｏｇｎｉｚｅ               ｔｈｅｉｒ               ｏｂｌｉｇａｔｉｏｎｓ               ａｓｓｏｃｉａｔｅｄ               ｗｉｔｈ               ｔｈｅｉｒ               ｄｅｆｉｎｅｄ               ｐｅｎｓｉｏｎ,               ｒｅｔｉｒｅｅ               ｈｅａｌｔｈｃａｒｅ,               ａｎｄ               ｏｔｈｅｒ               ｐｏｓｔｒｅｔｉｒｅｍｅｎｔ               ｐｌａｎｓ               ｉｎ               ｔｈｅｉｒ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ.

Ａ               ｃｏｍｐａｎｙ               ｍｕｓｔ               ｒｅｃｏｇｎｉｚｅ               ｉｎ               ｉｔｓ               ｓｔａｔｅｍｅｎｔ               ｏｆ               ｆｉｎａｎｃｉａｌ               ｐｏｓｉｔｉｏｎ               ｔｈｅ               ｏｖｅｒｆｕｎｄｅｄ               ｏｒ               ｕｎｄｅｒｆｕｎｄｅｄ               ｓｔａｔｕｓ               ｏｆ               ａ               ｄｅｆｉｎｅｄ               ｂｅｎｅｆｉｔ               ｐｏｓｔｒｅｔｉｒｅｍｅｎｔ               ｐｌａｎ,               ｍｅａｓｕｒｅｄ               ａｓ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅ               ｂｅｔｗｅｅｎ               ｔｈｅ               ｆａｉｒ               ｖａｌｕｅ               ｏｆ               ｐｌａｎ               ａｓｓｅｔｓ               ａｎｄ               ｔｈｅ               ｂｅｎｅｆｉｔ               ｏｂｌｉｇａｔｉｏｎ.

Ｔｈｅ               ｍｅａｓｕｒｅｍｅｎｔ               ｄａｔｅ               ｆｏｒ               ｄｅｔｅｒｍｉｎｉｎｇ               ｆｕｎｄｉｎｇ               ｓｔａｔｕｓ               ｍｕｓｔ               ｃｏｉｎｃｉｄｅ               ｗｉｔｈ               ｔｈｅ               ｄａｔｅ               ｏｆ               ｔｈｅ               ｅｍｐｌｏｙｅｒ'ｓ               ｓｔａｔｅｍｅｎｔ               ｏｆ               ｆｉｎａｎｃｉａｌ               ｐｏｓｉｔｉｏｎ.

Ｔｈｅ               ｉｍｐａｃｔ               ｏｎ               ｔｈｅ               ｓｔａｔｅｍｅｎｔ               ｏｆ               ｆｉｎａｎｃｉａｌ               ｐｏｓｉｔｉｏｎ               ｍａｙ               ｂｅ               ｓｉｇｎｉｆｉｃａｎｔ...Ａｌｌ               ｐｕｂｌｉｃ,               ｎｏｎｐｕｂｌｉｃ,               ａｎｄ               ｎｏｔ-ｆｏｒ-ｐｒｏｆｉｔ               ｏｒｇａｎｉｚａｔｉｏｎｓ               ａｒｅ               ａｆｆｅｃｔｅｄ               ｂｙ               ＳＦＡＳ               158."               (Ｈｕｒｔｔ,               Ｋｒｅｕｚｅ,               Ｌａｎｇｓａｍ               2007)               Ｉｔ               ｓｅｅｍｓ               ｔｈａｔ               ｔｈｅ               ｐｒｏｆｅｓｓｉｏｎ               ｉｓ               ｏｎ               ｔｈｅ               ｒｉｇｈｔ               ｔｒａｃｋ               ｉｎ               ｍａｋｉｎｇ               ｓｕｒｅ               ｔｈａｔ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔ               ａｃｃｕｒａｔｅｌｙ               ｒｅｆｌｅｃｔ               ｔｈｅ               ｅｃｏｎｏｍｉｃ               ｒｅａｌｉｔｉｅｓ               ｏｆ               ｅｖｅｎ               ｔｈｅ               ｍｏｓｔ               ｃｏｍｐｌｅｘ               ｔｒａｎｓａｃｔｉｏｎｓ               ｅｎｔｅｒｅｄ               ｉｎ               ｔｏ.

Ｈｏｗｅｖｅｒ,               ｔｈｅｒｅ               ｉｓ               ａｎｏｔｈｅｒ               ｖａｒｉａｂｌｅ               ｔｏ               ｃｏｎｓｉｄｅｒ               ｉｎ               ｔｈｉｓ               ｅｑｕａｔｉｏｎ:               ｃｏｎｖｅｒｇｅｎｃｅ               ｗｉｔｈ               ＩＦＲＳ.
               ＩＡＳ               19               ｉｓ               ｔｈｅ               ｉｎｔｅｒｎａｔｉｏｎａｌ               ｅｑｕｉｖａｌｅｎｔ               ｏｆ               ＦＡＳ               158               ｉｎ               ｔｈａｔ               ｉｔ               ｄｅａｌｓ               ｗｉｔｈ               ｈｏｗ               ａ               ｃｏｍｐａｎｙ               ｉｓ               ｔｏ               ａｃｃｏｕｎｔ               ｆｏｒ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｅｘｐｅｎｓｅｓ.

Ｎｅｖｅｒｔｈｅｌｅｓｓ,               ｔｈｅｒｅ               ａｒｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｂｅｔｗｅｅｎ               ｔｈｅ               ｔｗｏ               ｍｅｔｈｏｄｓ               ｗｈｉｃｈ               ｗｉｌｌ               ｍａｋｅ               ｔｈｅ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅ               ａｎｄ               ｌｉａｂｉｌｉｔｉｅｓ               ｄｉｆｆｅｒｅｎｔ               ｄｅｐｅｎｄｉｎｇ               ｏｎ               ｗｈｉｃｈ               ｍｅｔｈｏｄ               ｉｓ               ｕｓｅｄ.

Ｔｏｗｅｒｓ               Ｐｅｒｒｉｎ,               ａ               ｇｌｏｂａｌ               ｐｒｏｆｅｓｓｉｏｎａｌ               ｓｅｒｖｉｃｅｓ               ｆｉｒｍ,               ｈａｓ               ａ               ｇｒｉｄ               ｏｆ               ｓｕｍｍａｒｙ               ｐｒｏｖｉｓｉｏｎｓ               ａｆｆｅｃｔｉｎｇ               ａｃｃｏｕｎｔｉｎｇ               ｆｏｒ               ｐｏｓｔｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ｕｎｄｅｒ               ＩＡＳ19               ａｎｄ               ｔｈｅ               ｖａｒｉｏｕｓ               ＦＡＳｓ.

Ｌａｒｇｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｉｎｃｌｕｄｅ,               ｂｕｔ               ａｒｅ               ｎｏｔ               ｌｉｍｉｔｅｄ               ｔｏ,               ｔｈｅ               ｆｏｌｌｏｗｉｎｇ:
               Ｕｎｄｅｒ               ＦＡＳ               158,               ｖａｌｕａｔｉｏｎｓ               ｒｅｑｕｉｒｅ               ｔｈｅ               ｕｓｅ               ｏｆ               ａ               ｑｕａｌｉｆｉｅｄ               ａｃｔｕａｒｙ.

Ｕｎｄｅｒ               ＩＡＳ               19,               ｔｈｅ               ｕｓｅ               ｏｆ               ａｎ               ａｃｔｕａｒｙ               ｉｓ               ｏｎｌｙ               ｒｅｃｏｍｍｅｎｄｅｄ,               ｎｏｔ               ｒｅｑｕｉｒｅｄ.

Ｕｎｄｅｒ               ＦＡＳ               158,               ｔｈｅ               ｄｉｓｃｏｕｎｔ               ｒａｔｅ               ｕｓｅｄ               ｉｓ               ｔｈｅ               ｒａｔｅ               ａｔ               ｗｈｉｃｈ               ｏｂｌｉｇａｔｉｏｎ               ｃｏｕｌｄ               ｂｅ               ｅｆｆｅｃｔｉｖｅｌｙ               ｓｅｔｔｌｅｄ,               ｇｅｎｅｒａｌｌｙ               ｃｕｒｒｅｎｔ               ｒａｔｅｓ               ｏｆ               ｒｅｔｕｒｎ               ｏｎ               ｈｉｇｈ-ｑｕａｌｉｔｙ               ｆｉｘｅｄ               ｉｎｃｏｍｅ               ｉｎｖｅｓｔｍｅｎｔｓ               ｗｉｔｈ               ｍａｔｕｒｉｔｉｅｓ               ｍａｔｃｈｉｎｇ               ｄｕｒａｔｉｏｎ               ｏｆ               ｂｅｎｅｆｉｔｓ               ｏｂｌｉｇａｔｉｏｎ.

Ｕｎｄｅｒ               ＩＡＳ               19               ｔｈｅ               ｒａｔｅ               ｕｓｅｄ               ｉｓ               ｃｕｒｒｅｎｔ               ｒａｔｅｓ               ｏｆ               ｒｅｔｕｒｎ               ｏｎ               ｈｉｇｈ-ｑｕａｌｉｔｙ               ｃｏｒｐｏｒａｔｅ               ｂｏｎｄｓ               ｗｉｔｈ               ｍａｔｕｒｉｔｉｅｓ               ｃｏｎｓｉｓｔｅｎｔ               ｗｉｔｈ               ｔｈｅ               ｄｕｒａｔｉｏｎ               ｏｆ               ｂｅｎｅｆｉｔ               ｏｂｌｉｇａｔｉｏｎｓ.

Ｕｎｄｅｒ               ＦＡＳ               158,               ｔｈｅ               ｒａｔｅ               ｏｆ               ｒｅｔｕｒｎ               ｏｎ               ｐｌａｎ               ａｓｓｅｔｓ               ｉｓ               ｔｈｅ               ｅｘｐｅｃｔｅｄ               ｌｏｎｇ               ｔｅｒｍ               ｒａｔｅｓ               ｏｖｅｒ               ｌｉｆｅ               ｏｆ               ｔｈｅ               ｏｂｌｉｇａｔｉｏｎ.

Ｕｎｄｅｒ               ＩＡＳ               19,               ｔｈｅ               ｒａｔｅ               ｉｓ               ｂａｓｅｄ               ｏｎ               ｃｕｒｒｅｎｔ               ｍａｒｋｅｔ               ｅｘｐｅｃｔａｔｉｏｎｓ               ｏｖｅｒ               ｔｈｅ               ｌｉｆｅ               ｏｆ               ｏｂｌｉｇａｔｉｏｎ               Ｃｏｓｔ               ｒｅｃｏｇｎｉｚｅｄ               ｕｎｄｅｒ               ＦＡＳ               158               ａｎｄ               ＩＡＳ               19               ｉｓ               ｃａｌｃｕｌａｔｅｄ               ａｌｍｏｓｔ               ｅｘａｃｔｌｙ               ｔｈｅ               ｓａｍｅ               ｗａｙ.

Ｔｈｅ               ｏｎｌｙ               ｄｉｆｆｅｒｅｎｃｅ               ｉｓ               ｔｈａｔ               ｕｎｄｅｒ               ＦＡＳ               106               ｙｏｕ               ｃａｎ               ａｄｄ               ｏｒ               ｓｕｂｔｒａｃｔ               ｔｅｍｐｏｒａｒｙ               ｄｅｖｉａｔｉｏｎｓ               ｆｒｏｍ               ｐｌａｎｓ.

Ｃｏｎｓｉｄｅｒｉｎｇ               ａｌｌ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｉｎ               ＩＡＳ               19               ａｎｄ               ＦＡＳ               158               ａｎｄ               ｃｏｎｓｉｄｅｒｉｎｇ               ｔｈｅ               ｐｏｓｓｉｂｉｌｉｔｙ               ｏｆ               ｃｏｎｖｅｒｇｅｎｃｅ               ｗｉｔｈ               ＩＦＲＳ,               ｉｔ               ｌｅａｄｓ               ｔｏ               ｔｈｅ               ｑｕｅｓｔｉｏｎ               ｏｆ               ｈｏｗ               ｃｈａｎｇｉｎｇ               ｆｒｏｍ               ＵＳ               ＧＡＡＰ               ｔｏ               ＩＦＲＳ               ｗｏｕｌｄ               ａｆｆｅｃｔ               ｔｈｅ               ｅａｒｎｉｎｇｓ               ｏｆ               ａ               ｃｏｍｐａｎｙ.

Ｗｏｕｌｄ               ｒｅｐｏｒｔｉｎｇ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ｕｎｄｅｒ               ＩＦＲＳ               ａｓ               ｏｐｐｏｓｅｄ               ｔｏ               ＵＳ               ＧＡＡＰ               ｂｅ               ｂｅｎｅｆｉｃｉａｌ               ｏｒ               ｄｅｔｒｉｍｅｎｔａｌ               ｔｏ               ａ               ｃｏｍｐａｎｙ'ｓ               ｅａｒｎｉｎｇｓ?

Ｔｈｅｒｅ               ｉｓ               ａｎ               ｉｎｈｅｒｅｎｔ               ｌｉｍｉｔａｔｉｏｎ               ｄｕｅ               ｔｏ               ｔｈｅ               ｃｏｍｐｒｅｓｓｅｄ               ｔｉｍｅｆｒａｍｅ               ｉｎ               ｗｈｉｃｈ               ｒｅｓｕｌｔｓ               ｏｆ               ｔｈｅ               ｓｔｕｄｙ               ａｒｅ               ｔｏ               ｂｅ               ｒｅｐｏｒｔｅｄ.

Ｄｕｅ               ｔｏ               ｔｈｅ               ｌｉｍｉｔａｔｉｏｎｓ,               ｃｏｍｐａｎｉｅｓ               ｓｅｌｅｃｔｅｄ               ａｒｅ               ｆｏｒｅｉｇｎ               ｃｏｍｐａｎｉｅｓ               ｗｈｉｃｈ               ａｒｅ               ｐｕｂｌｉｃｌｙ               ｔｒａｄｅｄ               ｏｎ               ｖａｒｉｏｕｓ               ＵＳ               Ｓｔｏｃｋ               Ｅｘｃｈａｎｇｅｓ,               ａｎｄ               ｔｈｕｓ               ａｒｅ               ｌｉｓｔｅｄ               ｗｉｔｈ               ｔｈｅ               ＳＥＣ.

Ｎｏ               ｄｏｍｅｓｔｉｃ               ｃｏｒｐｏｒａｔｉｏｎｓ               ａｒｅ               ｕｓｅｄ,               ａｓ               ｄｏｍｅｓｔｉｃ               ｃｏｍｐａｎｉｅｓ               ｒｅｐｏｒｔ               ｕｎｄｅｒ               ＵＳ               ＧＡＡＰ               ａｎｄ               ｄｏ               ｎｏｔ               ｐｒｏｖｉｄｅ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｕｎｄｅｒ               ＩＦＲＳ.

Ｆｕｒｔｈｅｒｍｏｒｅ,               ｓｔａｒｔｉｎｇ               ｗｉｔｈ               ｙｅａｒｓ               ｅｎｄｉｎｇ               ａｆｔｅｒ               Ｎｏｖｅｍｂｅｒ               15,               2007               ｔｈｅ               ＳＥＣ               ｄｏｅｓ               ｎｏｔ               ｒｅｑｕｉｒｅ               ｔｈａｔ               ｒｅｇｉｓｔｒａｎｔｓ               ｒｅｐｏｒｔｉｎｇ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｕｎｄｅｒ               ＩＦＲＳ               ｒｅｃｏｎｃｉｌｅ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｔｏ               ＵＳ               ＧＡＡＰ               ｉｎ               ｔｈｅ               ｆｏｏｔｎｏｔｅｓ               ｔｏ               ｔｈｅ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ.

Ｂｅｃａｕｓｅ               ｏｆ               ｔｈｉｓ,               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｕｓｅｄ               ａｒｅ               ｆｏｒ               ｔｈｅ               ｙｅａｒ               ｅｎｄｅｄ               Ｄｅｃｅｍｂｅｒ               31,               2006.

Ｉｆ               ｔｈｅ               ｆｉｓｃａｌ               ｙｅａｒｓ               ｏｆ               ｔｈｅ               ｃｏｍｐａｎｉｅｓ               ｓｅｌｅｃｔｅｄ               ｄｉｄ               ｎｏｔ               ｅｎｄ               ｏｎ               Ｄｅｃｅｍｂｅｒ               31,               ｔｈｅｎ               ｔｈｅ               ｙｅａｒ               ｅｎｄｅｄ               ｄｕｒｉｎｇ               2007               ｗａｓ               ｓｅｌｅｃｔｅｄ.
               Ａｎｏｔｈｅｒ               ｌｉｍｉｔａｔｉｏｎ               ｆｏｒ               ｔｈｉｓ               ｓｔｕｄｙ               ｉｓ               ｔｈａｔ               ｔｈｅｒｅ               ａｒｅ               ａ               ｂｒｏａｄ               ｒａｎｇｅ               ｏｆ               ｉｎｄｕｓｔｒｉｅｓ               ｒｅｐｒｅｓｅｎｔｅｄ               ｉｎ               ｔｈｅ               ｓａｍｐｌｅ,               ａｎｄ               ａｌｓｏ               ａ               ｂｒｏａｄ               ｒａｎｇｅ               ｏｆ               ｃｏｍｐａｎｙ               ｓｉｚｅｓ.

Ｔｉｍｅ               ａｎｄ               ｒｅｓｏｕｒｃｅｓ               ａｖａｉｌａｂｌｅ               ｔｏ               ｓｅｌｅｃｔ               ａ               ｓａｍｐｌｅ               ｗｉｔｈ               ｓｉｍｉｌａｒ               ｃｏｍｐａｎｉｅｓ               ｅｉｔｈｅｒ               ｉｎ               ｓｉｚｅ               ｏｒ               ｉｎｄｕｓｔｒｉｅｓ               ｗａｓ               ｌｉｍｉｔｅｄ,               ａｔ               ｂｅｓｔ.

Ｈａｄ               ｒｅｓｏｕｒｃｅｓ               ａｎｄ               ｔｉｍｅ               ｂｅｅｎ               ｇｒｅａｔｅｒ,               ｉｔ               ｍａｙ               ｈａｖｅ               ｂｅｅｎ               ｐｏｓｓｉｂｌｅ               ｔｏ               ｐｅｒｆｏｒｍ               ａｎ               ａｎａｌｙｓｉｓ               ｏｆ               ａ               ｓａｍｐｌｅ               ｃｏｍｐｒｉｓｅｄ               ｏｆ               ｓｉｍｉｌａｒ               ｃｏｍｐａｎｉｅｓ;               ｈａｄ               ｔｈａｔ               ｂｅｅｎ               ｐｏｓｓｉｂｌｅ,               ｒｅｓｕｌｔｓ               ｃｏｕｌｄ               ｈａｖｅ               ｄｉｆｆｅｒｅｄ.
               Ｉｎ               ａｄｄｉｔｉｏｎ,               ｉｔ               ｗｏｕｌｄ               ｈａｖｅ               ｂｅｅｎ               ｎｉｃｅ               ｔｏ               ｕｔｉｌｉｚｅ               ａ               ｔｅｓｔ               ｇｒｏｕｐ               ｏｆ               ｄｏｍｅｓｔｉｃ               ｃｏｍｐａｎｉｅｓ               ｗｉｌｌｉｎｇ               ｔｏ               ｐｒｏｖｉｄｅ               ａ               ｒｅｃｏｎｃｉｌｉａｔｉｏｎ               ｏｆ               ｔｈｅｉｒ               ＵＳ               ＧＡＡＰ               ｅａｒｎｉｎｇｓ               ｔｏ               ｅａｒｎｉｎｇｓ               ｕｎｄｅｒ               ＩＦＲＳ.

Ｆｕｒｔｈｅｒｍｏｒｅ,               ｓｕｃｈ               ｒｅｃｏｎｃｉｌｉａｔｉｏｎｓ               ｗｏｕｌｄ               ｂｅ               ｐｒｏｖｉｄｅｄ               ｆｏｒ               ｔｈｅ               ｍｏｓｔ               ｒｅｃｅｎｔ               ｙｅａｒ               ｅｎｄ,               ｔｈｕｓ               ｐｒｏｖｉｄｉｎｇ               ｍｏｒｅ               ａｃｃｕｒａｔｅ               ｒｅｓｕｌｔｓ.

Ｔｈｅ               ｒｅａｓｏｎ               ｔｈａｔ               ｓｕｃｈ               ｉｎｆｏｒｍａｔｉｏｎ               ｗｏｕｌｄ               ｂｅ               ｐｒｅｆｅｒｒｅｄ               ｔｏ               ｕｓｅ               ｉｓ               ｂｅｃａｕｓｅ               ｄｏｍｅｓｔｉｃ               ｃｏｍｐａｎｉｅｓ               ａｓ               ｏｐｐｏｓｅｄ               ｔｏ               ｆｏｒｅｉｇｎ               ｃｏｍｐａｎｉｅｓ               ｉｓ               ｔｈａｔ               ｌａｂｏｒ               ｌａｗｓ               ａｎｄ               ｂｅｎｅｆｉｔｓ               ｏｆｆｅｒｅｄ               ｔｏ               ｅｍｐｌｏｙｅｅｓ               ｍａｙ               ｄｉｆｆｅｒ               ａｃｒｏｓｓ               ｉｎｔｅｒｎａｔｉｏｎａｌ               ｂｏｒｄｅｒｓ.

Ｕｔｉｌｉｚｉｎｇ               ｄｏｍｅｓｔｉｃ               ｃｏｍｐａｎｉｅｓ               ｗｏｕｌｄ               ｓｔｒｅｎｇｔｈｅｎ               ｔｈｅ               ｓｔｕｄｙ               ｂｙ               ｅｎｓｕｒｉｎｇ               ｔｈａｔ               ｔｈｅ               ｐｅｎｓｉｏｎ               ｐｌａｎｓ               ａｎａｌｙｚｅｄ               ｗｅｒｅ               ａｎ               ａｃｃｕｒａｔｅ               ｓａｍｐｌｅ               ｏｆ               ｐｅｎｓｉｏｎ               ｐｌａｎｓ               ｕｔｉｌｉｚｅｄ               ｂｙ               ｄｏｍｅｓｔｉｃ               ｅｍｐｌｏｙｅｒｓ.

Ｈｏｗｅｖｅｒ,               ｄｅｓｐｉｔｅ               ｔｈｅ               ｌｉｍｉｔａｔｉｏｎｓ               ｉｎｄｉｃａｔｅｄ               ａｂｏｖｅ               ｉｔ               ｉｓ               ｐｏｓｓｉｂｌｅ               ｔｈａｔ               ｔｈｅ               ｃｏｎｃｌｕｓｉｏｎｓ               ｄｒａｗｎ               ｆｒｏｍ               ｔｈｉｓ               ｌｉｍｉｔｅｄ               ｓｔｕｄｙ               ｗｉｌｌ               ｂｅ               ａｃｃｕｒａｔｅ,               ｅｖｅｎ               ｉｆ               ａｔ               ａ               ｖｅｒｙ               ｂｒｏａｄ               ａｎｄ               ｇｅｎｅｒａｌ               ｌｅｖｅｌ.
               Ｂａｓｅｄ               ｏｎ               ａ               ｐｒｅｌｉｍｉｎａｒｙ               ｒｅｖｉｅｗ               ｏｆ               ｌｉｔｅｒａｔｕｒｅ               ａｖａｉｌａｂｌｅ               ｔｏ               ａｎｓｗｅｒ               ｔｈｅ               ｑｕｅｓｔｉｏｎ               ｐｏｓｅｄ,               ｌｉｔｅｒａｔｕｒｅ               ａｎｄ               ｒｅｓｅａｒｃｈ               ｒｅｌａｔｅｄ               ｔｏ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｂｅｔｗｅｅｎ               ＧＡＡＰ               ａｎｄ               ＩＦＲＳ               ａｃｃｏｕｎｔｉｎｇ               ｔｒｅａｔｍｅｎｔｓ               ｗａｓ               ｕｎａｖａｉｌａｂｌｅ.

Ｉｎ               ｔｕｒｎ,               ｔｈｅ               ｌｉｔｅｒａｔｕｒｅ               ｒｅｖｉｅｗ               ｔｕｒｎｅｄ               ｔｏ               ｏｔｈｅｒ               ｓｃｉｅｎｃｅｓ               ｔｏ               ｓｅｅ               ｈｏｗ               ｃｏｍｐａｒｉｓｏｎｓ               ｂｅｔｗｅｅｎ               ｔｗｏ               ｒｅｌａｔｅｄ               ｓｅｔｓ               ｏｆ               ｉｎｆｏｒｍａｔｉｏｎ               ｗｅｒｅ               ｍａｄｅ.

Ｉｎ               ａ               ｒｅｓｅａｒｃｈ               ｓｔｕｄｙ               ａｉｍｅｄ               ａｔ               ｃｌａｓｓｉｆｙｉｎｇ               ｎｅｕｒａｌ               ｎｅｔｗｏｒｋｓ,               Ｒｅｚｅｋｉ,               Ｓｕｂａｎａｒ,               ａｎｄ               Ｇｕｒｉｔｎｏ               ｓｔａｔｅｄ               "ｗｅ               ｅｍｐｌｏｙ               ｔｈｅ               ｍａｔｃｈｅｄ               ｐａｉｒ               ｃｏｍｐａｒｉｓｏｎｓ               ｔｏ               ｉｎｖｅｓｔｉｇａｔｅ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅ               ｆｏｒ               ｅａｃｈ               ｔｗｏ               ｍｏｄｅｌｓ.

Ｔｈｅ               ｃｏｎｃｅｐｔ               ｏｆ               ｍａｔｃｈｉｎｇ               ｏｒ               ｂｌｏｃｋｉｎｇ               ｉｓ               ｆｕｎｄａｍｅｎｔａｌ               ｔｏ               ｐｒｏｖｉｄｉｎｇ               ａ               ｃｏｍｐｒｏｍｉｓｅ               ｂｅｔｗｅｅｎ               ｔｈｅ               ｔｗｏ               ｃｏｎｆｌｉｃｔｉｎｇ               ｒｅｑｕｉｒｅｍｅｎｔｓ               ｔｈａｔ               ｔｈｅ               ｅｘｐｅｒｉｍｅｎｔａｌ               ｕｎｉｔｓ               ｂｅ               ａｌｉｋｅ               ａｎｄ               ａｌｓｏ               ｂｅ               ｏｆ               ｄｉｆｆｅｒｅｎｔ               ｋｉｎｄｓ."
               Ｔｏ               ｔｅｓｔ               ｗｈｅｔｈｅｒ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｅｘｐｅｎｓｅｓ               ｒｅｐｏｒｔｅｄ               ｕｓｉｎｇ               ＩＦＲＳ               ｈａｄ               ａ               ｆａｖｏｒａｂｌｅ               ｏｒ               ｕｎｆａｖｏｒａｂｌｅ               ｖａｒｉａｎｃｅ               ｔｏ               ｔｈｏｓｅ               ｒｅｐｏｒｔｅｄ               ｕｎｄｅｒ               ＵＳ               ＧＡＡＰ,               ｔｈｅ               ｓｔａｔｉｓｔｉｃａｌ               ａｎａｌｙｓｉｓ               ｗａｓ               ｐｅｒｆｏｒｍｅｄ               ｏｎ               ｔｗｅｎｔｙ-ｓｉｘ               ｃｏｍｐａｎｉｅｓ               ｌｉｓｔｅｄ               ｗｉｔｈ               ｔｈｅ               ＳＥＣ               ｔｈａｔ               ｒｅｐｏｒｔｅｄ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｉｎ               ＩＦＲＳ               ａｎｄ               ｗｅｒｅ               ｒｅｑｕｉｒｅｄ               ｔｏ               ｒｅｃｏｎｃｉｌｅ               ｔｈｅｉｒ               ｒｅｓｕｌｔｓ               ｔｏ               ＵＳ               ＧＡＡＰ               ｏｎ               ｆｏｒｍ               20-Ｆ.

Ｔｈｅ               ｓａｍｐｌｅ               ｗａｓ               ｃｈｏｓｅｎ               ｂｙ               ｒｅｖｉｅｗｉｎｇ               ａ               ｌｉｓｔ               ｏｆ               ｆｏｒｅｉｇｎ               ｉｓｓｕｅｒｓ               ｌｉｓｔｅｄ               ｏｎ               ｔｈｅ               ＳＥＣ               ｗｅｂｓｉｔｅ,               ａｎｄ               ｈａｐｈａｚａｒｄｌｙ               ｓｅｌｅｃｔｉｎｇ               ｔｗｅｎｔｙ-ｓｉｘ.

Ｗｈｉｌｅ               ｍａｋｉｎｇ               ｔｈｅ               ｓｅｌｅｃｔｉｏｎ,               ａｎ               ｅｆｆｏｒｔ               ｗａｓ               ｍａｄｅ               ｔｏ               ｃｈｏｏｓｅ               ｃｏｍｐａｎｉｅｓ               ｔｈａｔ               ｈａｄ               ａ               ｐｒｅｓｅｎｃｅ               ｉｎ               ｔｈｅ               Ｕｎｉｔｅｄ               Ｓｔａｔｅｓ.

Ｂｅｌｏｗ               ｉｓ               ｔｈｅ               ｔｅｓｔ               ｇｒｏｕｐ               ｓｅｌｅｃｔｉｏｎ:
               ＡＢ               Ｅｌｅｃｔｒｏｌｕｘ,               Ｄｅｕｔｓｃｈｅ               Ｂａｎｋ,               Ｒｏｙａｌ               Ｄｕｔｃｈ               Ｓｈｅｌｌ,               ＡＢＮ               Ａｍｒｏ,               Ｅｎｄｅｓａ,               Ｓｍｉｔｈ               &               Ｎｅｐｈｅｗ,               Ａｌｃａｔｅｌ,               Ｆｉａｔ,               Ｓｔａｔｏｉｌ,               Ａｓｔｒａ               Ｚｅｎｅｃａ,               Ｇｌａｘｏ               Ｓｍｉｔｈ               Ｋｌｉｎｅ,               Ｕｎｉｌｅｖｅｒ,               Ａｖｅｎｔｉｓ,               Ｇｒｏｕｐ               Ｄａｎｏｎｅ,               Ｖｉｍｐｅｌ               Ｃｏｍｍｕｎｉｃａｔｉｏｎｓ,               Ｂａｒｃｌａｙｓ,               Ｇｕｃｃｉ,
               Ｖｉｖｅｎｄｉ,               Ｂｅｎｅｔｔｏｎ               Ｇｒｏｕｐ,               ＩＮＧ               Ｇｒｏｕｐ,               Ｂｒｉｔｉｓｈ               Ａｉｒｗａｙｓ,               ＫＬＭ               Ｒｏｙａｌ               Ｄｕｔｃｈ               Ａｉｒｌｉｎｅｓ,               Ｂｒｉｔｉｓｈ               Ｐｅｔｒｏｌｅｕｍ,               Ｎｏｋｉａ,
               Ｃａｄｂｕｒｙ               Ｓｃｈｗｅｐｐｅｓ,Ｐｈｉｌｉｐｓ
               Ａｆｔｅｒ               ｔｈｅ               ｔｅｓｔ               ｇｒｏｕｐ               ｗａｓ               ｓｅｌｅｃｔｅｄ,               ａｎｎｕａｌ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｆｏｒ               ｔｈｅ               ｙｅａｒ               ｅｎｄｅｄ               Ｄｅｃｅｍｂｅｒ               31,               2006               ｗｅｒｅ               ｏｂｔａｉｎｅｄ               ｆｒｏｍ               ｔｈｅ               ｃｏｍｐａｎｙ'ｓ               ｗｅｂｓｉｔｅ.

Ｉｆ               ｔｈｅ               ｃｏｍｐａｎｙ               ｈａｄ               ａ               ｙｅａｒ               ｅｎｄ               ｔｈａｔ               ｄｉｄ               ｎｏｔ               ｆａｌｌ               ｏｎ               Ｄｅｃｅｍｂｅｒ               31,               ｔｈｅ               ｆｉｎａｎｃｉａｌ               ｉｎｆｏｒｍａｔｉｏｎ               ｗａｓ               ｆｏｒ               ｔｈｅ               ｆｉｓｃａｌ               ｙｅａｒ               ｅｎｄｅｄ               ｎｏ               ｌａｔｅｒ               ｔｈａｎ               10/31/2007.

Ｉｎ               ｔｈｅ               ｅｖｅｎｔ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｗｅｒｅ               ｎｏｔ               ａｔｔａｉｎａｂｌｅ               ｆｒｏｍ               ｔｈｅ               ｃｏｍｐａｎｙ'ｓ               ｗｅｂｓｉｔｅ,               ｔｈｅｙ               ｗｅｒｅ               ｌｏｃａｔｅｄ               ｔｈｒｏｕｇｈ               ＥＤＧＡＲ               ｏｎ               ｔｈｅ               ＳＥＣ               ｗｅｂｓｉｔｅ.

Ｏｎｃｅ               ｔｈｅ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ               ｗｅｒｅ               ｏｂｔａｉｎｅｄ,               ｔｈｅ               ｆｏｏｔｎｏｔｅ               ｒｅｃｏｎｃｉｌｉａｔｉｏｎ               ｆｒｏｍ               ＩＦＲＳ               ｅａｒｎｉｎｇｓ               ｔｏ               ＵＳ               ＧＡＡＰ               ｅａｒｎｉｎｇｓ               ｗａｓ               ａｎａｌｙｚｅｄ               ｔｏ               ｓｅｅ               ｗｈａｔ               ａｍｏｕｎｔ               ｏｆ               ａｄｊｕｓｔｍｅｎｔｓ               ｗｅｒｅ               ｎｅｅｄｅｄ               ｔｏ               ｂｒｉｎｇ               ｔｈｅ               ＩＦＲＳ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅ               ｉｎ               ｌｉｎｅ               ｗｉｔｈ               ｔｈｅ               ＵＳ               ＧＡＡＰ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅ.

Ｔｈｅ               ｌｉｎｅ               ｉｔｅｍ               ａｄｊｕｓｔｍｅｎｔ               ｆｏｒ               Ｐｏｓｔ-Ｒｅｔｉｒｅｍｅｎｔ               Ｂｅｎｅｆｉｔｓ               ｒｅｐｒｅｓｅｎｔｅｄ               ｔｈｅ               ｉｎｃｒｅａｓｅ               ｏｒ               ｄｅｃｒｅａｓｅ               ｉｎ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔ               ｅｘｐｅｎｓｅｓ               ｎｅｅｄｅｄ               ｔｏ               ｓｈｏｗ               ｒｅｓｕｌｔｓ               ｕｎｄｅｒ               ＵＳ               ＧＡＡＰ.

Ａ               ｎｅｇａｔｉｖｅ               ａｄｊｕｓｔｍｅｎｔ               ｗｏｕｌｄ               ｉｎｄｉｃａｔｅ               ｔｈａｔ               ｓｕｃｈ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ＵＳ               ＧＡＡＰ               ａｒｅ               ｈｉｇｈｅｒ               ｔｈａｎ               ｔｈｅ               ｅｘｐｅｎｓｅｓ               ｒｅｐｏｒｔｅｄ               ｕｎｄｅｒ               ＩＦＲＳ,               ａｎｄ               ｔｈｅｒｅｆｏｒｅ               ｒｅｐｏｒｔｉｎｇ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ｕｓｉｎｇ               ＩＦＲＳ               ｗｏｕｌｄ               ｂｅ               ｆａｖｏｒａｂｌｅ               ｔｏ               ａ               ｃｏｍｐａｎｙ'ｓ               ｆｉｎａｎｃｉａｌ               ｐｏｓｉｔｉｏｎ.

Ｃｏｎｖｅｒｓｅｌｙ,               ａ               ｐｏｓｉｔｉｖｅ               ａｄｊｕｓｔｍｅｎｔ               ｗｏｕｌｄ               ｉｎｄｉｃａｔｅ               ｔｈａｔ               ｔｈｅ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ＵＳ               ＧＡＡＰ               ａｒｅ               ｌｏｗｅｒ               ｔｈａｎ               ｓｕｃｈ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ＩＦＲＳ               ａｎｄ               ｔｈｅｒｅｆｏｒｅ               ｒｅｐｏｒｔｉｎｇ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ｕｎｄｅｒ               ＩＦＲＳ               ｗｏｕｌｄ               ｎｏｔ               ｂｅ               ｆａｖｏｒａｂｌｅ               ｔｏ               ａ               ｃｏｍｐａｎｙ.
               Ｏｎｃｅ               ａｌｌ               ｏｆ               ｔｈｅ               ｎｅｃｅｓｓａｒｙ               ｒｅｃｏｎｃｉｌｉａｔｉｏｎｓ               ｗｅｒｅ               ｌｏｃａｔｅｄ,               ａ               ｓｐｒｅａｄｓｈｅｅｔ               ｗａｓ               ｐｒｅｐａｒｅｄ               ｎｏｔａｔｉｎｇ               ｔｈｅ               ａｄｊｕｓｔｍｅｎｔｓ               ｆｏｒ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ.

Ｗｈｉｌｅ               ｐｒｅｐａｒｉｎｇ               ｔｈｉｓ               ｓｐｒｅａｄｓｈｅｅｔ,               ｉｔ               ｗａｓ               ｖｉｔａｌ               ｔｏ               ｅｎｓｕｒｅ               ｔｈａｔ               ｔｈｅ               ｃｏｍｐａｎｙ               ｉｎｆｏｒｍａｔｉｏｎ               ｗａｓ               ｅｘｐｒｅｓｓｅｄ               ｉｎ               ｔｈｅ               ｓａｍｅ               ｕｎｉｔｓ.

Ｆｏｒ               ｉｎｓｔａｎｃｅ,               ｉｆ               ａ               ｃｏｍｐａｎｙ               ｒｅｐｏｒｔｅｄ               ｕｓｉｎｇ               ａ               ｆｏｒｅｉｇｎ               ｃｕｒｒｅｎｃｙ,               ｔｈｅ               ａｍｏｕｎｔ               ｗａｓ               ａｄｊｕｓｔｅｄ               ｔｏ               ＵＳ               ｄｏｌｌａｒｓ               ｕｓｉｎｇ               ｔｈｅ               ｎｏｏｎ               ｂｕｙｉｎｇ               ｒａｔｅ               ａｓ               ｏｆ               Ｄｅｃｅｍｂｅｒ               31,               2006.

Ａｌｌ               ａｄｊｕｓｔｍｅｎｔｓ               ｗｅｒｅ               ａｌｓｏ               ｒｅｃｏｒｄｅｄ               ｉｎ               ｔｈｅ               ｍｉｌｌｉｏｎｓ               ｏｆ               ｄｏｌｌａｒｓ,               ａｓ               ｓｏｍｅ               ｅｎｔｉｔｉｅｓ               ｒｅｐｏｒｔ               ｕｓｉｎｇ               ｔｈｏｕｓａｎｄｓ.
               Ｏｎｃｅ               ｔｈｅ               ｓｐｒｅａｄｓｈｅｅｔ               ｗａｓ               ｐｒｅｐａｒｅｄ,               ｔｈｅ               ｍａｔｃｈ-ｐａｉｒ               ｔ-ｔｅｓｔ               ａｎａｌｙｓｉｓ               ｏｎ               ｔｈｅ               ｄａｔａ               ｗａｓ               ｐｅｒｆｏｒｍｅｄ.

Ｂｅｃａｕｓｅ               ｓｕｃｈ               ｓｔａｔｉｓｔｉｃａｌ               ａｎａｌｙｓｅｓ               ｒｅｑｕｉｒｅ               ａ               ｍａｔｃｈｅｄ               ｐａｉｒ,               ｉｔ               ｗａｓ               ｉｍｐｏｒｔａｎｔ               ｔｏ               ｉｎｄｉｃａｔｅ               ｔｈｅ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔ               ｅｘｐｅｎｓｅ               ｕｎｄｅｒ               ｂｏｔｈ               ＵＳ               ＧＡＡＰ               ａｎｄ               ＩＦＲＳ.

Ｓｉｎｃｅ               ｔｈｅ               ａｄｊｕｓｔｍｅｎｔ               ｎｅｅｄｅｄ               ｔｏ               ｂｒｉｎｇ               ＩＦＲＳ               ｅｘｐｅｎｓｅ               ｕｐ               ｔｏ               ＵＳ               ＧＡＡＰ               ｅｘｐｅｎｓｅ               ｗａｓ               ａｌｒｅａｄｙ               ｉｎｄｉｃａｔｅｄ,               ＩＦＲＳ               ｅｘｐｅｎｓｅ               ｗａｓ               ｓｅｔ               ｔｏ               0               ｗｏｕｌｄ               ｓｈｏｗ               ＵＳ               ＧＡＡＰ               ｅｘｐｅｎｓｅ               ａｔ               ａｎ               ａｍｏｕｎｔ               ｅｑｕａｌ               ｔｏ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅ               ｂｅｔｗｅｅｎ               ｔｈｅ               ｔｗｏ               ｍｅｔｈｏｄｓ.

Ｔｈｅ               ｍａｔｃｈ-ｐａｉｒ               ｔ-ｔｅｓｔ               ｗｉｌｌ               ｂｅ               ｔｈｅ               ｓａｍｅ               ｕｎｄｅｒ               ｔｈｅｓｅ               ｃｏｎｄｉｔｉｏｎｓ               ａｓ               ｔｈｅｙ               ｗｏｕｌｄ               ｉｆ               ｗｅ               ｋｎｅｗ               ｅａｃｈ               ｅｘｐｅｎｓｅ               ｕｎｄｅｒ               ｅａｃｈ               ｍｅｔｈｏｄ.

Ｆｉｎｄｉｎｇ               ｔｈｉｓ               ｉｎｆｏｒｍａｔｉｏｎ               ｉｓ               ｄｉｆｆｉｃｕｌｔ,               ａｓ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅｓ               ａｒｅ               ｏｆｔｅｎ               ｌｕｍｐｅｄ               ｉｎ               ｔｏｇｅｔｈｅｒ               ｗｉｔｈ               ｏｔｈｅｒ               ｅｘｐｅｎｓｅｓ               ｏｎ               ｔｈｅ               ｉｎｃｏｍｅ               ｓｔａｔｅｍｅｎｔ               ａｎｄ               ｎｏｔ               ｅａｓｙ               ｔｏ               ｓｏｒｔ               ｏｕｔ               ｕｓｉｎｇ               ｔｈｅ               ｎｏｔｅｓ               ｔｏ               ｔｈｅ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ.

Ｏｎｃｅ               ｔｈｅ               ｄａｔａ               ｗａｓ               ｒｅａｄｙ               ｔｏ               ａｎａｌｙｚｅ,               ｔｈｅ               ｓｔａｔｉｓｔｉｃａｌ               ａｎａｌｙｓｉｓ               ｗａｓ               ｐｅｒｆｏｒｍｅｄ               ｔｈｅ               ｕｓｉｎｇ               Ｅｘｃｅｌｓ               Ａｎａｌｙｓｉｓ               Ｔｏｏｌｐａｋ.
               Ｒｅｓｕｌｔｓ               ｏｆ               ｔｈｉｓ               ｓｔｕｄｙ               ｉｎｄｉｃａｔｅｄ               ｔｈａｔ               ａｔ               ｔｗｅｎｔｙ               ｆｉｖｅ               ｄｅｇｒｅｅｓ               ｏｆ               ｆｒｅｅｄｏｍ               ｗｉｔｈ               ａｎ               ａｌｐｈａ               ｏｆ               .05,               ｔｈｅ               ｔ               ｖａｌｕｅ               ｏｆ               ｔｈｅ               ｔｅｓｔ               ｇｒｏｕｐ               ｗａｓ               ｇｒｅａｔｅｒ               ｔｈａｎ               2.06,               ｗｈｉｃｈ               ｗａｓ               ｔｈｅ               ｔ-ｖａｌｕｅ               ｉｎｄｉｃａｔｅｄ               ｉｎ               ｔｈｅ               ｔ-ｔａｂｌｅ.

Ｔｈｉｓ               ｍｅａｎｓ               ｗｅ               ｃａｎ               ｆａｉｌ               ｔｏ               ｒｅｊｅｃｔ               ｔｈｅ               ｎｕｌｌ               ｈｙｐｏｔｈｅｓｉｓ               ａｎｄ               ｔｈａｔ               ｔｈｅｒｅ               ｉｓ               ａ               ｄｉｆｆｅｒｅｎｃｅ               ｂｅｔｗｅｅｎ               ｔｈｅ               ｔｗｏ               ａｃｃｏｕｎｔｉｎｇ               ｔｒｅａｔｍｅｎｔｓ.

Ｄｕｅ               ｔｏ               ｔｈｅ               ａｖｅｒａｇｅ               ａｄｊｕｓｔｍｅｎｔ               ｔｏ               ａｒｒｉｖｅ               ａｔ               ＵＳ               ＧＡＡＰ               ｅａｒｎｉｎｇｓ               ｆａｌｌｉｎｇ               ｉｎ               ｔｈｅ               ｎｅｇａｔｉｖｅ               $200               ｍｉｌｌｉｏｎ               ｒａｎｇｅ,               ｗｅ               ｃａｎ               ｌｏｏｓｅｌｙ               ｃｏｎｃｌｕｄｅ               ｔｈａｔ               ａｃｃｏｕｎｔｉｎｇ               ｆｏｒ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ＩＦＲＳ               ｉｓ               ｆａｖｏｒａｂｌｅ               ｔｏ               ａ               ｃｏｍｐａｎｙ'ｓ               ｆｉｎａｎｃｉａｌ               ｐｏｓｉｔｉｏｎ.
               Ｄｕｅ               ｔｏ               ｔｈｅ               ｔｉｍｅ               ａｎｄ               ｒｅｓｏｕｒｃｅ               ｃｏｎｓｔｒａｉｎｔｓ               ｐｌａｃｅｄ               ｏｎ               ｔｈｉｓ               ｓｔｕｄｙ,               ｆｕｒｔｈｅｒ               ｒｅｓｅａｒｃｈ               ｉｓ               ｎｅｅｄｅｄ               ｔｏ               ｄｒａｗ               ｃｏｎｃｒｅｔｅ               ｃｏｎｃｌｕｓｉｏｎｓ.

Ｆｕｒｔｈｅｒ               ｒｅｓｅａｒｃｈ               ｉｓ               ａｌｓｏ               ｗａｒｒａｎｔｅｄ               ｔｏ               ｄｅｔｅｒｍｉｎｅ               ｔｈｅ               ｒｅａｓｏｎｓ               ｆｏｒ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｉｎ               ｔｈｅ               ａｃｃｏｕｎｔｉｎｇ               ｔｒｅａｔｍｅｎｔ.

Ｉｔ               ｗｏｕｌｄ               ｂｅ               ｉｎｔｅｒｅｓｔｉｎｇ               ｔｏ               ｓｅｅ               ｗｈｅｔｈｅｒ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｓｔｅｍ               ｆｒｏｍ               ｔｈｅ               ｄｉｆｆｅｒｅｎｃｅｓ               ｉｎ               ｄｉｓｃｏｕｎｔ               ｒａｔｅｓ               ｕｓｅｄ,               ｏｒ               ｓｏｍｅｔｈｉｎｇ               ｅｌｓｅ               ｓｕｃｈ               ａｓ               ｎｏｔ               ｂｅｉｎｇ               ｒｅｑｕｉｒｅｄ               ｔｏ               ｕｓｅ               ａｎ               ａｃｔｕａｒｙ.
               Ｗｈａｔ               ｃｏｕｌｄ               ｂｅ               ｄｏｎｅ               ｔｏ               ｆｉｎｉｓｈ               ｔｈｉｓ               ｐａｒｔｉｃｕｌａｒ               ｓｔｕｄｙ               ｉｓ               ｔｏ               ｒｅａｌｌｙ               ｔａｋｅ               ｔｈｅ               ｔｉｍｅ               ｔｏ               ａｎａｌｙｚｅ               ｅａｃｈ               ｏｆ               ｔｈｅ               ｔｅｓｔ               ｇｒｏｕｐ               ｐａｒｔｉｃｉｐａｎｔ'ｓ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔ               ａｎｄ               ｆｉｎｄ               ｔｈｅ               ｕｎｄｅｒｌｙｉｎｇ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅｓ               ｔｏ               ｇｅｔ               ａ               ｔｒｕｅ               ｐｏｒｔｒａｉｔ               ｏｆ               ｔｈｅ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ＧＡＡＰ               ａｎｄ               ＩＦＲＳ.

Ｔｏ               ｇｅｔ               ｆｕｒｔｈｅｒ               ａｎａｌｙｔｉｃａｌ               ｅｖｉｄｅｎｃｅ,               ｙｏｕ               ｃｏｕｌｄ               ｃｏｍｐａｒｅ               ｔｈｅ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅ               ｕｎｄｅｒ               ｅａｃｈ               ｍｅｔｈｏｄ               ｔｏ               ｔｏｔａｌ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ｅａｃｈ               ｍｅｔｈｏｄ.

Ｉｔ               ｃｏｕｌｄ               ｂｅ               ｑｕｉｔｅ               ｐｏｓｓｉｂｌｅ               ｔｈｅ               ｐｅｎｓｉｏｎ               ｅｘｐｅｎｓｅｓ               ｕｎｄｅｒ               ＩＦＲＳ               ａｒｅ               ｌｏｗｅｒ,               ｗｈｉｌｅ               ｔｈｅｉｒ               ＵＳ               ＧＡＡＰ               ｃｏｕｎｔｅｒ               ｐａｒｔｓ               ｈａｖｅ               ｈｉｇｈｅｒ               ｅｘｐｅｎｓｅｓ               ｔｈａｔ               ａｒｅ               ａ               ｌｏｗｅｒ               ｐｅｒｃｅｎｔａｇｅ               ｏｆ               ｔｏｔａｌ               ｅｘｐｅｎｓｅｓ.
               Ａｎｏｔｈｅｒ               ｐｏｉｎｔ               ｗｏｒｔｈ               ｍｅｎｔｉｏｎｉｎｇ               ｉｓ               ｔｈｅ               ｆａｃｔ               ｔｈａｔ               ｔｈｅ               ｃｏｍｐａｎｉｅｓ               ｉｎ               ｔｈｅ               ｔｅｓｔ               ｇｒｏｕｐ               ａｒｅ               ａ               ｈｏｄｇｅｐｏｄｇｅ               ｏｆ               ｖａｒｉｏｕｓ               ｃｏｍｐａｎｉｅｓ;               ｔｈｅ               ｏｎｌｙ               ｓｔｉｐｕｌａｔｉｏｎ               ｔｈａｔ               ａ               ｃｏｍｐａｎｙ               ｈａｄ               ｔｏ               ｍｅｅｔ               ｔｏ               ｇｅｔ               ｉｎｔｏ               ｍｙ               ｇｒｏｕｐ               ｉｓ               ｔｈａｔ               ｔｈｅｙ               ｈａｄ               ｔｏ               ｂｅ               ｐｕｂｌｉｃｌｙ               ｔｒａｄｅｄ               ｏｎ               ｔｈｅ               ＵＳ               ｓｔｏｃｋ               ｅｘｃｈａｎｇｅ               ａｎｄ               ｒｅｐｏｒｔ               ｕｓｉｎｇ               ＩＦＲＳ.

Ｉｔ               ｗｏｕｌｄ               ｂｅ               ｂｅｔｔｅｒ               ｔｏ               ｕｓｅ               ｃｏｍｐａｎｉｅｓ               ｔｈａｔ               ｈａｖｅ               ｓｉｍｉｌａｒ               ｐｅｎｓｉｏｎ               ｐｌａｎｓ               ａｎｄ               ｓｉｍｉｌａｒ               ａｃｔｕａｒｉａｌ               ａｓｓｕｍｐｔｉｏｎｓ               ａｎｄ               ｄｉｓｃｏｕｎｔ               ｒａｔｅｓ.
               Ｔｉｍｅ               ｉｓ               ｖｅｒｙ               ｌｉｍｉｔｅｄ               ｔｏ               ｆｉｎｉｓｈ               ｔｈｉｓ               ｒｅｓｅａｒｃｈ;               ｆｏｒ               ｙｅａｒｓ               ｅｎｄｅｄ               ｏｎ               ｏｒ               ａｆｔｅｒ               Ｎｏｖｅｍｂｅｒ               15,               2007               ｃｏｍｐａｎｉｅｓ               ｒｅｐｏｒｔｉｎｇ               ｕｓｉｎｇ               ＩＦＲＳ               ａｒｅ               ｎｏ               ｌｏｎｇｅｒ               ｒｅｑｕｉｒｅｄ               ｔｏ               ｐｒｅｐａｒｅ               ｒｅｃｏｎｃｉｌｉａｔｉｏｎｓ               ｔｏ               ＵＳ               ＧＡＡＰ               ｆｉｎａｎｃｉａｌ               ｒｅｓｕｌｔｓ               ｉｎ               ｔｈｅ               ｆｏｏｔｎｏｔｅｓ               ｔｏ               ｔｈｅｉｒ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ.

Ｉｔ               ｉｓ               ｖｉｔａｌ               ｔｏ               ｕｓｅ               ｒｅｃｅｎｔ               ｆｉｎａｎｃｉａｌ               ｄａｔａ,               ａｎｄ               ａｓ               ｍｏｒｅ               ｔｉｍｅ               ｇｏｅｓ               ｏｎ               ｉｔ               ｗｉｌｌ               ｂｅ               ｈａｒｄｅｒ               ｔｏ               ｄｏ               ｔｈｉｓ               ｓｔｕｄｙ               ａｓ               ｔｈｅ               ｉｎｆｏｒｍａｔｉｏｎ               ｎｅｅｄｅｄ               ｗｉｌｌ               ｎｏｔ               ｂｅ               ｌａｉｄ               ｏｕｔ               ｉｎ               ｔｈｅ               ｆｏｏｔｎｏｔｅｓ.

Ｗｉｔｈ               ｔｈｅ               ｍｏｓｔ               ｃｕｒｒｅｎｔ               ｆｉｎａｎｃｉａｌ               ｉｎｆｏｒｍａｔｉｏｎ               ｎｏｔ               ｒｅａｄｉｌｙ               ａｖａｉｌａｂｌｅ,               ｔｈｅ               ｒｅｓｅａｒｃｈ               ｗｉｌｌ               ｈａｖｅ               ｔｏ               ｂｅ               ｄｏｎｅ               ｕｓｉｎｇ               ａｃｔｕａｌ               ｃｏｍｐａｎｙ               ｄａｔａ               ｗｈｉｃｈ               ｗｏｕｌｄ               ｎｅｅｄ               ｔｏ               ｂｅ               ｓｕｐｐｌｉｅｄ               ｂｙ               ｔｈｉｒｄ               ｐａｒｔｙ               ａｄｍｉｎｉｓｔｒａｔｏｒｓ               ｏｆ               ｅｍｐｌｏｙｅｅ               ｂｅｎｅｆｉｔ               ｐｌａｎｓ               ｗｈｏ               ｗｏｕｌｄ               ｂｅ               ａｂｌｅ               ｔｏ               ｔｒａｎｓｌａｔｅ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｅｘｐｅｎｓｅｓ               ｂａｃｋ               ａｎｄ               ｆｏｒｔｈ               ｂｅｔｗｅｅｎ               ＵＳ               ＧＡＡＰ               ａｎｄ               ＩＦＲＳ.
               Ｉｎ               ｃｏｎｃｌｕｓｉｏｎ,               ｔｈｅ               ｌｉｍｉｔｅｄ               ｒｅｓｅａｒｃｈ               ｐｅｒｆｏｒｍｅｄ               ｏｎ               ｔｈｅ               ＳＥＣ               ｆｏｒｍ               20-Ｆ               ｆｏｒ               ｔｗｅｎｔｙ-ｓｉｘ               ｆｏｒｅｉｇｎ               ｃｏｒｐｏｒａｔｉｏｎｓ               ｔｒａｄｅｄ               ｏｎ               ｔｈｅ               ＵＳ               Ｓｔｏｃｋ               ｅｘｃｈａｎｇｅｓ               ｐｏｉｎｔｓ               ｔｏ               ｔｈｅ               ｐｏｓｓｉｂｉｌｉｔｙ               ｔｈａｔ               ａｃｃｏｕｎｔｉｎｇ               ｆｏｒ               ｐｅｎｓｉｏｎ               ｌｉａｂｉｌｉｔｉｅｓ               ｕｎｄｅｒ               ＩＦＲＳ               ａｓ               ｏｐｐｏｓｅｄ               ｔｏ               ＵＳ               ＧＡＡＰ               ｗｉｌｌ               ｂｅ               ｂｅｎｅｆｉｃｉａｌ               ｔｏ               ａ               ｃｏｍｐａｎｙ'ｓ               ｅａｒｎｉｎｇｓ.

Ｓｕｃｈ               ｒｅｓｅａｒｃｈ               ｉｓ               ｉｍｐｏｒｔａｎｔ               ｂｅｃａｕｓｅ               ａｓ               ｃｏｎｖｅｒｇｅｎｃｅ               ｗｉｔｈ               ＩＦＲＳ               ｉｓ               ｌｏｏｍｉｎｇ,               ｉｔ               ｉｓ               ｉｍｐｏｒｔａｎｔ               ｆｏｒ               ＵＳ               Ｃｏｍｐａｎｉｅｓ               ｔｏ               ｕｎｄｅｒｓｔａｎｄ               ｔｈｅ               ｆｕｌｌ               ｅｆｆｅｃｔｓ               ｏｆ               ｃｈａｎｇｉｎｇ               ｔｈｅｉｒ               ａｃｃｏｕｎｔｉｎｇ               ｍｅｔｈｏｄｓ.

Ｌｉｋｅｗｉｓｅ,               ｓｉｎｃｅ               ｒｅｃｏｎｃｉｌｉａｔｉｏｎｓ               ｆｒｏｍ               ＩＦＲＳ               ｅａｒｎｉｎｇｓ               ｔｏ               ＵＳ               ＧＡＡＰ               ｅａｒｎｉｎｇｓ               ｉｓ               ｎｏ               ｌｏｎｇｅｒ               ｒｅｑｕｉｒｅｄ               ｉｎ               ｔｈｅ               ｆｏｏｔｎｏｔｅｓ               ｔｏ               ｔｈｅ               ｆｉｎａｎｃｉａｌ               ｓｔａｔｅｍｅｎｔｓ,               ＵＳ               ｃｏｒｐｏｒａｔｉｏｎｓ               ｎｅｅｄ               ｔｏ               ｕｎｄｅｒｓｔａｎｄ               ｈｏｗ               ｔｈｅｉｒ               ｃｏｍｐｅｔｉｔｉｏｎｓ               ｆｉｎａｎｃｉａｌ               ｒｅｃｏｒｄｓ               ｗｉｌｌ               ｌｏｏｋ               ｉｎ               ｃｏｍｐａｒｉｓｏｎ               ｔｏ               ｔｈｅｉｒ               ｏｗｎ               ｓｏ               ｔｈａｔ               ｔｈｅｙ               ｃａｎ               ｌｏｏｋ               ａｔ               ｗａｙｓ               ｔｈｅｙ               ｃａｎ               ｍｉｔｉｇａｔｅ               ｔｈｅ               ｒｉｓｋ               ａｎｄ               ｍａｎａｇｅ               ｔｈｅｉｒ               ｂｕｓｉｎｅｓｓ               ｓｏ               ｔｈａｔ               ｔｈｅｉｒ               ｓｔａｔｅｍｅｎｔｓ               ｓｔａｙ               ｃｏｍｐａｒａｂｌｅ               ｔｏ               ｔｈｅ               ｃｏｍｐｅｔｉｔｉｏｎ.

Ｉｔ               ｍｉｇｈｔ               ｂｅ               ｑｕｉｔｅ               ｐｏｓｓｉｂｌｅ               ｔｈａｔ               ｃｈａｎｇｅｓ               ｔｏ               ＦＡＳ               158               ｍａｙ               ｂｅ               ｗａｒｒａｎｔｅｄ               ｉｎ               ｏｒｄｅｒ               ｔｏ               ｂｒｉｎｇ               ｔｈｅ               ｒｅｐｏｒｔｉｎｇ               ａｎｄ               ｖａｌｕａｔｉｏｎ               ｒｅｑｕｉｒｅｍｅｎｔｓ               ｉｎ               ｌｉｎｅ               ａｎｄ               ｍｏｒｅ               ｃｏｍｐａｒａｂｌｅ               ｔｏ               ｔｈｅ               ｅｘｐｅｎｓｅｓ               ａｎｄ               ｌｉａｂｉｌｉｔｉｅｓ               ｕｎｄｅｒ               ＩＡＳ               19.

Ｎｏｎｅｔｈｅｌｅｓｓ,               ａｃｃｏｕｎｔｉｎｇ               ｆｏｒ               ｐｏｓｔ-ｒｅｔｉｒｅｍｅｎｔ               ｂｅｎｅｆｉｔｓ               ｉｓ               ｓｏｍｅｔｈｉｎｇ               ｔｈａｔ               ｂｏｔｈ               ｄｏｍｅｓｔｉｃ               ａｎｄ               ｉｎｔｅｒｎａｔｉｏｎａｌ               ＣＰＡ'ｓ               ａｎｄ               ｔｈｅｉｒ               ｅｑｕｉｖａｌｅｎｔｓ               ｗｉｌｌ               ｈａｖｅ               ｔｏ               ｄｅａｌ               ｗｉｔｈ               ｆｏｒ               ｙｅａｒｓ               ｔｏ               ｃｏｍｅ.
               Ｓｏｕｒｃｅｓ               Ｑｕｏｔｅｄ:
               Ｐｅｔｅｒ               Ｆｏｒｔｕｎｅ               (2005,               Ｄｅｃｅｍｂｅｒ).

Ｐｅｎｓｉｏｎ               Ａｃｃｏｕｎｔｉｎｇ               ａｎｄ               Ｃｏｒｐｏｒａｔｅ               Ｅａｒｎｉｎｇｓ:
               Ｔｈｅ               Ｗｏｒｌｄ               Ａｃｃｏｒｄｉｎｇ               ｔｏ               ＧＡＡＰ.

Ｆｅｄｅｒａｌ               Ｒｅｓｅｒｖｅ               Ｂａｎｋ               ｏｆ               Ｂｏｓｔｏｎ               Ｐｕｂｌｉｃ               Ｐｏｌｉｃｙ               Ｄｉｓｃｕｓｓｉｏｎ               Ｐａｐｅｒｓ
               Ｔｏｗｅｒｓ               Ｐｅｒｒｉｎ               (2008).

Ｃｏｍｐａｒｉｓｏｎ               ｏｆ               ＩＡＳ               19               ｗｉｔｈ               ＦＡＳ               87/88/106/132(Ｒ)/158
               Ｓｕｍｍａｒｙ               ｏｆ               Ｐｒｏｖｉｓｉｏｎｓ               Ａｆｆｅｃｔｉｎｇ               Ａｃｃｏｕｎｔｉｎｇ               ｆｏｒ               Ｐｏｓｔｒｅｔｉｒｅｍｅｎｔ               Ｂｅｎｅｆｉｔｓ.

Ｒｅｔｒｉｅｖｅｄ               Ｆｅｂｒｕａｒｙ               5,               2009               ｆｒｏｍ               ｗｗｗ.ｔｏｗｅｒｓｐｅｒｒｉｎ.ｃｏｍ
               Ｄａｖｉｄ               Ｎ.

Ｈｕｒｔｔ,               Ｊｅｒｒｙ               Ｇ.

Ｋｒｅｕｚｅ,               Ｓｈｅｌｄｏｎ               Ａ.

Ｌａｎｇｓａｍ               (2007,               Ｊｕｌｙ).

Ｄｉｓｐｌａｙｉｎｇ               ｔｈｅ               Ｆｕｎｄｉｎｇ               Ｓｔａｔｕｓ               ｏｆ               Ｐｏｓｔｒｅｔｉｒｅｍｅｎｔ               Ｐｌａｎｓ:               Ｔｈｅ               Ｉｍｐａｃｔ               ｏｆ               ＳＦＡＳ               158               Ｄｉｓｃｌｏｓｕｒｅ               Ｔｈｅ               ＣＰＡ               Ｊｏｕｒｎａｌ               .

Ｒｅｔｒｉｅｖｅｄ               Ｆｅｂｒｕａｒｙ               3,               2009,               ｆｒｏｍ               ｗｗｗ.ｎｙｓｓｃｐａ.ｃｏｍ
               Ｓｒｉ               Ｒｅｚｅｋｉ,               Ｓｕｂａｎａｒ               &               Ｓｕｒｙｏ               Ｇｕｒｉｔｎｏ.

(2006).

Ｍｏｄｅｌ               Ｓｅｌｅｃｔｉｏｎ               ｆｏｒ               Ｎｅｕｒａｌ               Ｎｅｔｗｏｒｋｓ               Ｃｌａｓｓｉｆｉｃａｔｉｏｎ               ｂｙ               Ｕｓｉｎｇ               Ｍａｔｃｈｅｄ               Ｐａｉｒ               Ｃｏｍｐａｒｉｓｏｎ               Ｔｅｓｔ.

Ｒｅｔｒｉｅｖｅｄ               Ｆｅｂｒｕａｒｙ               3,               2009               ｆｒｏｍ               ｈｔｔｐ://ｍａｔｈ.ｕｓｍ.ｍｙ/ｒｅｓｅａｒｃｈ/ＯｎｌｉｎｅＰｒｏｃ/ＣＳ26.ｐｄｆ
               Ｇｒａｈａｍ               Ｈｏｌｔ               (2007,               Ｊａｎｕａｒｙ).

ＩＡＳ               19,               Ｅｍｐｌｏｙｅｅ               Ｂｅｎｅｆｉｔｓ               Ｓｔｕｄｅｎｔ               Ａｃｃｏｕｎｔａｎｔ               Ｒｅｔｒｉｅｖｅｄ               Ｆｅｂｒｕａｒｙ               3,               2009               ｈｔｔｐ://ｗｗｗ.ａｃｃａｇｌｏｂａｌ.ｃｏｍ/ｐｕｂｓ/ｓｔｕｄｅｎｔｓ/ｐｕｂｌｉｃａｔｉｏｎｓ/ｓｔｕｄｅｎｔ_ａｃｃｏｕｎｔａｎｔ/ａｒｃｈｉｖｅ/Ｈｏｌｔ0107.ｐｄｆ

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