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During the past three years the Financial Accounting Standards Board has issued several Statements on Financial Accounting Standards that have implications for accountants and their clients during 1993 and subsequent years.
In March 1990, the FASB issued Statement No. 105, "Disclosure of Information About Financial Instruments With Off-Balance Sheet Risk and Financial Instruments With Concentrations of Credit Risk." The document, which was discussed in this column in the fall 1990 Outlook, is applicable for years ending after June 15, 1990.
Statement No. 106, "Employers' Accounting for Post-Retirement Benefits Other Than Pensions," was issued in December 1990 and becomes effective for years ending after Dec. 15, 1992. An exception is made for nonpublic entities that have no more than 500 plan …