Active TopicsActive Topics  Display List of Forum MembersMemberlist  Search The ForumSearch  HelpHelp
  RegisterRegister  LoginLogin
FAR STUDY GROUP
 CPAnet Forum : FAR STUDY GROUP
Subject Topic: Pensions 2011 - a few questions, help? (Topic Closed Topic Closed) Post ReplyPost New Topic
  
Author
Message << Prev Topic | Next Topic >>
hope2bcpa
Newbie
Newbie


Joined: 30 Nov 2010
Online Status: Offline
Posts: 26
Posted: 25 Jan 2011 at 03:34 | IP Logged  


In Pensions,

1) Wiley does not mention the 15 years, but Becker (2010 bk) does, so is the 15 years part still valid for 2011?
" Minimum Amortization of Existing net Obligation = (PBO - FMV of PA) / (greater of 15 yrs or avg service life)"

2) a) Is the full amount of Prior Svs Cost, Gain, Net existing obligation debited to Other Comprehensive Income first and just the amortized amount debited to Pension Expense in the relevant period? or is the Full amount not entered as a JE at all because they are only actuarial a/cs (& not financial) and only the amortized amount recorded as a JE? (Conflicting info on Yaeger/Wiley v/s Becker)

b) The reclassification adjustment is not mentioned in Wiley for change in the funded status. Does this amount have to be separately shown for the three categories - Prior Svs Cost, Gain, Net existing obligation or is one entry for Over/Underfunding (as shown in Wiley) enough i.e. OCIincome a/c - Dr and Pension Liability- Cr. And upon amortization, its Pension Exp- Dr and OCIncome Cr.  ?

Thanks in advance for your help/clarification !!

Back to Top View hope2bcpa's Profile Search for other posts by hope2bcpa
 



Sorry, you can NOT post a reply.
This topic is closed.


  Post ReplyPost New Topic
Printable version Printable version

Forum Jump
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot delete your posts in this forum
You cannot edit your posts in this forum
You cannot create polls in this forum
You cannot vote in polls in this forum

Powered by Web Wiz Forums version 7.9
Copyright ©2001-2010 Web Wiz Guide

This page was generated in 0.1090 seconds.

Copyright © 1996-2016 CPAnet/MizWeb Communities All Rights Reserved
Twitter
|Facebook |CPA Exam Club | About | Contact | Newsletter | Advertise & Promote