Question of Financial Accounting In pension accounting, actuarial gains and losses area) Recognized in other comprehensive incomeb) Always recognized immediately in profit or lossc) Deferred indefinitelyd) Added to pension obligation directly

Explanation of Actuarial Gains and Losses: Actuarial gains and losses refer to the changes in the…

Answered: In pension accounting, actuarial gains…

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 12GI

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Similar questions

Under IFRS, any difference between the pension expense and the payments into the pension fund plan assets should be reflected in Select one: a. a contra account to the net defined benefit liability/asset. b. an accrued actuarial liability. c. the net pension liability/asset. d. a note to the financial statements only. e. None of the above.
Net interest cost is a component of pension expense under IFRS. How is net interest cost calculated? Select one: O a. The increase in the DBO over the period, net of the increase in the plan assets over the period. O b. Interest expense on the DBO, net of actual interest income earned on plan assets. O c. Interest expense on the defined benefit obligation (DBO), net of expected interest income earned on plan assets. O d. The increase in the DBO over the period, net of the increase in the plan assets over the period.
1. When an entity amends a pension plan, past service cost should be Recorded in other comprehensive income. Expensed in the period the plan is amended. Amortized over the service period of the employees Treated as prior period error.
Please answer what you can thanks
Any past service costs should be included in the a) pension expense of past periods. b) pension expense of the current period. c) pension expense of current and future periods. d) plan assets.
Which component of Kensington’s periodic pension cost would be shown in OCI ratherthan P&L?A . Service costB . Net interest (income) expenseC . Remeasurements
Answer the last 2 please
1 a. Briefly describe how are pension gains and losses recognized. b. Explain what are pension gains and losses and why they are not recognized in net income in the period in which they arise.
Describe how pension expense is a composite of periodic changes that occur in both the pension obligation and the plan assets.
What is the development of a "asset gain or loss" in the context of pension accounting? What is the development of a "liability gain or loss" in pension accounting?
Which of the following journal entries would be recorded when an entity contributes cash to its defined benefit pension plan? Select one: а. DR Cash; CR Net defined benefit liability O b. DR Pension assets; CR Cash Ос. DR Cash in trust; CR Cash O d. DR Net defined benefit liability; CR Cash
Under IFRS, which of the following statements is true regarding accounting for defined benefit pension plan settlements? Select one: a. Settlements increase the defined benefit obligation (DBO). b. Any gain or loss on a plan settlement is presented as part of other comprehensive income c. The difference between the change in the DBO and the change in the plan assets as a result of the plan settlement is recognized as a gain or loss. d. Settlements increase the plan assets

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In pension accounting, actuarial gains and losses are a) Recognized in other comprehensive income b) Always recognized immediately in profit or loss c) Deferred indefinitely d) Added to pension obligation directly