A criticism of FASB Statement No. 87 is that it did not require companies to report the funding status of a defined benefit pension plan (overfunded if the plan assets exceed the projected benefit obligation and underfunded if the plan assets are less than the PBO) in the balance sheet. Some preparers and users of financial statements believe that deficiency was overcome by the financial statement note disclosures required in FASB Statement No. 132(R). Other preparers and users applaud the balance sheet recognition requirement in FASB Statement No. 158 that requires a net pension-related asset or liability to be recognized in an amount equal to the funding status of the defined benefit plan. Is note disclosure sufficient for financial statement users, or is it important that information be actually recognized in the financial statements themselves?