Pension Accounting Case.pdf - 2018 Grant Thornton Defined Benefit Pension Accounting Case An employer’s reporting for a defined benefit pension is a

Pension Accounting Case.pdf - 2018 Grant Thornton Defined...

This preview shows page 1 - 2 out of 4 pages.

2018 Grant Thornton Defined Benefit Pension Accounting Case An employer’s reporting for a defined benefit pension is a joint effort between two professions: actuarial science and accountancy. An employer provides demographic and salary information about the current work force to an actuary who then computes a pension obligation and service cost in accordance with the provisions of the plan. While the actuary is responsible for the calculations, it is the accountant’s responsibility to ensure that th e assumptions, methods, and disclosures comply with generally accepted accounting principles. This exercise is designed confirm your understanding of defined benefit pension reporting net periodic benefit cost, including: The accounting for acquisition of pension plan in a business combination The components of net periodic benefit cost The components of other comprehensive income The factors that determine the change in the pension obligation during a reporting period The factors that determine the change in the plan assets during the year The amounts recognized on the statement of financial position as a net pension asset or liability The amounts recognized in accumulated other comprehensive income The accounting for a retroactive plan amendment
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Spring '08
  • Sandretto

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes