Student Notes, Pensions(17)

A disclosure of the rates used in measuring the

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A disclosure of the rates used in measuring the benefit amounts  (discount rate, expected return on plan assets, rate of compensation). 4. Table indicating the allocation of pension plan assets by category. Reporting Pension Plans in Financial Reporting Pension Plans in Financial Statements Statements Reporting Pension Plans in Financial Reporting Pension Plans in Financial Statements Statements
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Chapter 20-43 Within the Notes to the Financial Statements 5. The expected benefit payments to be paid to current plan participants for  each of the next five fiscal years and in the aggregate for the five fiscal  years thereafter. 6. The nature and amount of changes in plan assets and benefit obligations  recognized in net income and in other comprehensive income of each period. Reporting Pension Plans in Financial Reporting Pension Plans in Financial Statements Statements Reporting Pension Plans in Financial Reporting Pension Plans in Financial Statements Statements
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Chapter 20-44 Within the Notes to the Financial Statements 7. The accumulated amount of changes in plan assets and benefit obligations  that have been recognized in other comprehensive income and that will be  recycled into net income in future periods. 8. The amount of estimated net actuarial gains and losses and prior service  costs and credits that will be amortized from accumulated other  comprehensive income into net income over the next fiscal year. Reporting Pension Plans in Financial Reporting Pension Plans in Financial Statements Statements Reporting Pension Plans in Financial Reporting Pension Plans in Financial Statements Statements
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Chapter 20-45 Other postretirement benefits (primarily healthcare) are accounted for in almost  the exact same manner as DBP.  The only differences are due to measurement.    Other Post Retirement Benefits Other Post Retirement Benefits Other Post Retirement Benefits Other Post Retirement Benefits
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Chapter 20-46 Pension Plans Pension Plans IAS 19 Overall, similar to US GAAP Differences Have to use the return on high grade corporate debt as the expected rate of return on plan assets Do not amortize the OCI balances into pension expense. Instead these remain on the balance sheet as part of OCI.
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Chapter 20-47 IAS 19 - Pension Plans Market-related value US GAAP uses market-related value for: Expected return on plan assets Minimum amortization threshold for gains and losses calculated using the corridor approach IFRS uses fair value
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