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AccountingNerd8
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Joined: 13 Jan 2009
Location: United States
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Posts: 846

Posted: 29 Sep 2010 at 08:35 \| IP Logged

What are the main things we need to know about pensions? I am so confused. I am trying to memorize the adjustments to pension expense and the required disclosures, but do we really need to know the journal entries? Do we need to calculate stuff? ugh....

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hatchd
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Joined: 02 Dec 2009
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Posts: 62

Posted: 29 Sep 2010 at 10:28 \| IP Logged

I spent what seemed like hours trying to remember, understand, and be able to manipulate the SIRAGE calculation. Still never fully remembered it for some reason but had a good grasp. Then I had ZERO questions on it. I might have had one pension question on my entire test. I wouldn't remember the journal entries, but that's just my experience. Wait until you hear from others to see if I just got the oddball exam.

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kidrock
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Joined: 22 Sep 2010
Location: United States
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Posts: 71

Posted: 29 Sep 2010 at 10:35 \| IP Logged

I had a similar situation. I spent a lot of time on pensions and got maybe a question or two on it. I really think that every exam can be different, however, and you should try to prepare as well as you can for each subject. On my exam, I got killed with cash flows questions and governmental, however received virtually no questions of hedges, eps, consolidations, pensions....

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ebacmom
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Joined: 18 May 2010
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Posts: 48

Posted: 29 Sep 2010 at 15:10 \| IP Logged

I had a totally different situation than those who posted above me. My MCQ had so many pensions, which is also one of my weakest area. I was almost stunned that almost every other problem was about pension. It was a nightmare...

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Interpol CPA
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Joined: 20 Aug 2010
Location: United States
Online Status: Offline
Posts: 203

Posted: 30 Sep 2010 at 02:11 \| IP Logged

AccountingNerd8 wrote:

Focus on the components of pension cost. Definitely also be able to tell the funded status, I mean that's really pretty easy. Knowing these two should be good enough I think.

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