Define the service cost component of the periodic pension expense.

Q: Provide strategies you can suggest that may assist in maximizing the age pension entitlement.

A: Retirement planning" is the process of preparing financially for a comfortable and secure…

Q: Which component of Kensington’s periodic pension cost would be shown in OCI ratherthan P&L?A .…

A:

Q: What are two ways to measure the obligation for postretirement benefits other than pensions? Define…

A: Post-retirement benefit obligation refers to the present value of benefits that are expected to be…

Q: lease answer the following questions about defined benefit pension plans: Companies with defined…

A: Introduction: Pension plan: Pension plan can also be defined as retirement plan in which the…

Q: Describe how pension expense is a composite of periodic changes that occur in both the pension…

A: Pension plan: It is the plan devised by corporations to pay the employees an income after their…

Q: Alternative methods exist for the measurement of the pension obligation (liability). Which measure…

A: Answer: The pension obligation is liability and it is to be paid once the employees retire.

Q: Describe the funded status of pension plans and how that amount is reported.

A: Pension:   It refers to the fund into which a sum is added during the course of employment years.…

Q: Describe the nature of postretirement benefit plans other than pensions and identify the…

A: Pension plan: This is the plan devised by corporations to pay the employees an income after their…

Q: The two main types of pension plans are defined benefit plans and defined contribution plans.…

A: Pension plan: Pension plan is an agreement between the employer and employee. After the retirement…

Q: Depending on when an unfunded pension liability is to be paid, it will be classified on the balance…

A: Yes, unfunded pension liability will be classified as a liability on the BS Balance Sheet It is…

Q: look over the three most important components of the pension expense. The treatment of expected and…

A: Introduction  Companies account pension expense on accrual basis, accounting for pension plan…

Q: What were the major effects of SFAS No. 106 on reporting for post-retirement benefits other than…

A: In accordance with this Statement, employers must account for post-retirement benefits besides just…

Q: Net interest cost is a component of pension expense under IFRS. How is net interest cost calcul…

A: Net Interest cost is calculated by taking the difference between interest expense on defined benefit…

Q: According to PAS for Accounting and Reporting by Retirement Benefit Plans, which of the following…

A: Retirement Benefit Plans are financial arrangements set up by employers to provide retirement income…

Q: A company shows in its balance sheet, a provision for pension costs, Select one: a. This company has…

A: Defined Benefit Plan:-It is a benefit in which employees get extra benefits under law at the time of…

Q: For a defined benefit pension plan, pension expense consists of five components, for which the…

A: Defined Benefit Pension Plan: As opposed to directly relying on individual investment performance, a…

Q: Define the interest cost component of the periodic pension expense.

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: The return on plan assets is the increase in plan assets (at fair value), adjusted for contributions…

A: Return on plan assets is calculated as Plan assets * Expected Return

Q: The amortization of prior service costs will affect the pension expense for the period along with…

A: solution for above requirement are as follows

Q: and discuss the key accounting issues in determining the method of accounting for defined benefit…

A: Pension Accounting Many organizations provide additional benefits to their employees in addition to…

Q: Current accounting standards require that the discount rate used for pension plans be:   Multiple…

A: As per IAS 19 discount rate used for pension plans be considered as following

Q: Accounting for postretirement health care benefits is similar, in most respects, to accounting o O…

A: Pension Plan -One kind of retirement plan is a pension plan, in which businesses agree to provide…

Q: describe the two elements which determine the net periodic pension expense.

A:

Q: If an employer has a defined benefit pension plan, what components would make up its net periodic…

A: Defined benefit pension plans have a specific and a determinable benefit, which can take the form of…

Q: The net pension liability (PBO minus plan assets) is increased by: A. Service cost. B. Expected…

A: The net pension liability (PBO minus plan assets) is increased by Service cost, because if service…

Q: The two main types of pension plans are defined benefit plans and defined contribution plans.…

A: Pension plan is a plan under which either the employer or the employee contributes small amount of…

Q: What is meant by past service cost? When is past service cost recognized as pension expense?

A: Service cost refers to the cost which is used through actuaries of the firm in order to determine…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.