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

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

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 7MC: Which of the following is not a component of pension expense? a. amount funded b. service cost c....

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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
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 MCQ
Can you explain this general accounting question using accurate calculation methods?
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I am looking for help with this general accounting question using proper accounting standards.
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.
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.
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.
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.
Depending on when an unfunded pension liability is to be paid, it will be classified on the balance sheet as either a long-term or a current liability.