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Unformatted text preview: Lai 1 Tiffany Lai Ying Ping Professor Reilly ACC202 13 April 2008 FARS Assignment - Chapter 20 (a) Asset gains and losses are differences between the actual return on assets during a period and the expected return on assets for that period. Asset gains and losses include both (a) changes reflected in the market-related value of assets and (b) changes not yet reflected in the market-related value (that is, the difference between the fair value of assets and the market-related value). Asset gains and losses not yet reflected in market-related value are not required to be amortized under paragraphs 126 and 127. As a minimum, amortization of [FAS87, ¶32] a net gain or loss included in accumulated other comprehensive income [FAS158, ¶C2(g)] (excluding asset gains and losses not yet reflected in market-related value) shall be included as a component of net pension cost for a year if, as of the beginning of the year, that...
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- Spring '08
- financial accounting standards, Lai, asset gains, Financial Accounting Standards Board Current