Talk:Generally accepted accounting principles/Archives/2015
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Introduction is flawed
GAAP does not exclusively refer to US Accounting Standards. Generally accepted accounting principles is a term used to refer to the accounting standards used in any given jurisdiction. In the US,GAAP mainly comprises Statements of Financial Accounting Standards, issued by the FASB. In the UK, GAAP comprises Financial Reporting Standards (FRS's) issued by the ASB.
I have altered the introduction to reflect this. —Preceding unsigned comment added by Bh02306069 (talk • contribs) 01:11, 24 January 2009 (UTC)
What is the rule for reserve accounts set up for section 125 cash accounts? http://www.irs.gov/govt/fslg/article/0,,id=112720,00.html http://www.tri-c.edu/employment/docs/Benefits/forms/fsa_spd.pdf http://www.sjeccd.org/hr/attachments/benefits/fsabooklet.pdf The section 125 flex spending accounts, which I believe are part of the old Sec 125 cafeteria plan are pretty complex. A company should have enough money to effectively administer the plan, so the cash reserves are a function of a private contract with the various vendors that provide health, dental, etc services. They will all various with their billing periods. If you are having a hard time getting health reimbursements paid that is a matter of administrative function. You probably won't find a gov't reg on that. If an HMO quits the plan, which happens all the time, then it might take a few months to get reimbursed. And it will take someone a lot of letters to the HMO to get the health expenese paid. Your question is very broad.