ownership plans aicpa audit and accounting guide, audits of employee benefit plans issue（所有权计划aicpa审计和会计指南、员工福利计划的审计问题）.pdfVIP

EITF ABSTRACTS Issue No. 89-8 Title: Expense Recognition for Employee Stock Ownership Plans Dates Discussed: June 29, 1989; August 10, 1989; September 21, 1989; October 26, 1989; December 14, 1989; March 8, 1990 References: FASB Statement No. 87, Employers Accounting for Pensions APB Opinion No. 20, Accounting Changes AICPA Statement of Position 76-3, Accounting Practices for Certain Employee Stock Ownership Plans AICPA Statement of Position 93-6, Employers Accounting for Employee Stock Ownership Plans AICPA Audit and Accounting Guide, Audits of Employee Benefit Plans ISSUE In a leveraged employee stock ownership plan (ESOP), an ESOP borrows funds from a bank or other lender. The company (sponsor) may guarantee the loan or otherwise commit, directly or indirectly, to make contributions, pay dividends, or both to the ESOP. Alternatively, the sponsor may borrow funds and then make a loan to the ESOP. Sponsor contributions and dividends are used by the ESOP to service the debt. Some leveraged ESOP borrowings require level repayment of the debt over a period of years. Alternatively, the repayment schedule for the ESOP loan may be nonlevel and may depend on the sponsors expected cash flow or expected compensation costs. Loans may be structured to require only interest payments for a number of years or may permit negative amortization. Debt agreements also may require prepayments of debt if the sponsors cash flow exceeds certain thresholds or may permit voluntary prepayments by the sponsor.