... expected rate of return (ERR) assumption which is supposed to be determined by the allocation of plan assets to risky investments. All else being equal, the higher the assumption, the lower the pension expense and the higher the reported profits of plan sponsors. We hypothesize that not-for-profits used...

...Donald R. Deis, Jr.; Arpita Shroff ABSTRACT In 2015, the Financial Accounting Standards Board (FASB) issued an Exposure Draft (ED) as part of its first significant project in over 20 years on financial reporting by Not-for-Profit organizations (NFP). In this study, we categorize the 264 letters...