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Accountants’ Handbook Special Industries and Special Topics 10th Edition_13

Tham khảo tài liệu 'accountants’ handbook special industries and special topics 10th edition_13', tài chính - ngân hàng, kế toán - kiểm toán phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | 36 48 PENSION PLANS AND OTHER POSTRETIREMENT AND POSTEMPLOYMENT BENEFITS Reconciliation of Funded Status 1. Actuarial Liability a. Disabled Participants b. Active Participants c. Total 12 000 000 20 000 000 32 000 000 2. Fair Value of Assets 0 3. Funded Status 32 000 000 4. Unrecognized Amount at Transition 0 5. Unrecognized Net Loss Gain 6 000 000 6. Unrecognized Prior Service Cost 0 7. Accrued Prepaid Postemployment Benefit Cost at Year End 26 000 000 SFAS No. 112 did not allow delayed recognition of the transition obligation. Change in Accrued Prepaid Postemployment Benefit Cost 1. Accrued Prepaid Postemployment Benefit Cost at Prior Year End 24 400 000 2. Expense During Year a. Service Cost 2 200 000 b. Interest Cost 2 800 000 c. Amortization of Loss Gain 600 000 d. Total Expense 5 600 000 3. Payouts During Year 4 000 000 4. Accrued Prepaid Postemployment Benefit Cost at Current Year End 26 000 000 Since SFAS No. 43 applies to this plan the annual expense is explicitly calculated as the sum of the service cost interest cost and amortization of unrecognized actuarial losses. Were this a SFAS No. 5 plan the annual expense would equal the change in the actuarial reserve adjusted for benefit payments made during the year. Since the plan is unfunded benefit payments are treated as employer contributions. Exhibit 36.11 Illustration of SFAS No. 112 accounting. 36.8 SOURCES AND SUGGESTED REFERENCES American Academy of Actuaries An Actuary s Guide to Compliance with Statement of Financial Accounting Standards No. 87. AAA Washington DC 1986. Actuarial Compliance Guideline for Statement of Financial Accounting Standards No. 88. Actuarial Standards Board Washington DC 1989. Accounting Principles Board Accounting for the Cost of Pension Plans APB Opinion No. 8. AICPA New York 1966. Accounting Changes APB Opinion No. 20. AICPA New York 1971. Reporting the Results of Operation Reporting the Effects of Disposal of a Segment of a Business and Extraordinary Unusual and .