FASB today issued a revised accounting standard that will disclose more details about a company's defined benefit plan assets, benefit obligations, cash flows and benefit costs. The new standard, FASB 132, will require companies to provide a breakdown of plan assets by category, such as equity, debt and real estate, as well as expected rates of return and target allocation percentages for each category. Cash flows will include projections of future benefit payments and an estimate of contributions to be made in the next year to fund pension and other post-retirement benefit plans. The new rule also requires companies to report the various elements of pension and other post-retirement benefit costs quarterly. The guidance is effective for fiscal years ending after Dec.15, 2003, and for the first fiscal quarter of the year following initial application of the annual disclosure requirements.