Class11 Pensions2 - portion(the total pension liability minus the current portion D Prior service costs arising in the year of a plan amendment be

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M351 Notes, Class 11: Pensions and OPEB, pages 1037-1053 Today’s topics Pension plan disclosures Working through more pension examples A. Pensions are to be recognized in the company’s balance sheet and in the notes to its financial statements. B. In the company’s balance sheet the net funded status (a net pension asset or a net pension liability) is to be recognized (Projected Benefit Obligation minus the fair value of the plan assets). C. A net pension asset reported on the balance sheet is all long-term (noncurrent). A net pension liability reported on the balance sheet has a current portion (the amount of benefit payments to be made in the next year) and a noncurrent
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Unformatted text preview: portion (the total pension liability minus the current portion). D. Prior service costs arising in the year of a plan amendment be recognized in both the PBO and in OCI (see the illustration on pages 1041-1042. E. The eight items on page 1043 are disclosed in either the body of the financial statements or in the notes to the financial statements. F. A comprehensive pension worksheet appears on page 1045 in Illustration 20-29. Above the worksheet on page 1045 are the items entered into the worksheet. E. There is a discussion of pension termination on page1048 and 1049. 1...
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This note was uploaded on 12/04/2009 for the course MGMT 351 taught by Professor Staff during the Spring '08 term at Purdue University-West Lafayette.

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