tailieunhanh - Lecture Intermediate accounting (13th edition): Chapter 20 - Kieso Weygandt, Warfield

After completing this chapter you should be able to: Distinguish between accounting for the employer’s pension plan and accounting for the pension fund, identify types of pension plans and their characteristics, explain alternative measures for valuing the pension obligation, list the components of pension other contents. | C H A P T E R 20 ACCOUNTING FOR PENSIONS AND POSTRETIREMENT BENEFITS Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Identify types of pension plans and their characteristics. Explain alternative measures for valuing the pension obligation. List the components of pension expense. Use a worksheet for employer’s pension plan entries. Describe the amortization of unrecognized prior service costs. Explain the accounting procedure for recognizing unexpected gains and losses. Explain the corridor approach to amortizing unrecognized gains and losses. Describe the requirements for reporting pension plans in financial statements. Learning Objectives Alternative measures of liability Recognition of net funded status Components of pension expense Nature of Pension Plans Accounting for Pensions Using a Pension Worksheet Reporting Pension Plans in Financial Statements Defined contribution plan Defined-benefit plan Role of actuaries 2010 entries and worksheet Amortization of prior service cost 2011 entries and worksheet Gain or loss 2012 entries and worksheet Within the financial statements Within the notes to the financial statements Pension note disclosure 2013 entries and worksheet—a comprehensive example Special issues Accounting for Pensions and Postretirement Benefits A Pension Plan is an arrangement whereby an employer provides benefits (payments) to employees after they retire for services they provided while they were working. Pension Plan Administrator Contributions Employer Retired Employees Benefit Payments Assets & Liabilities LO 1 Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Nature of Pension Plans Some pension plans are: LO 1 Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Contributory: employees . | C H A P T E R 20 ACCOUNTING FOR PENSIONS AND POSTRETIREMENT BENEFITS Intermediate Accounting 13th Edition Kieso, Weygandt, and Warfield Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Identify types of pension plans and their characteristics. Explain alternative measures for valuing the pension obligation. List the components of pension expense. Use a worksheet for employer’s pension plan entries. Describe the amortization of unrecognized prior service costs. Explain the accounting procedure for recognizing unexpected gains and losses. Explain the corridor approach to amortizing unrecognized gains and losses. Describe the requirements for reporting pension plans in financial statements. Learning Objectives Alternative measures of liability Recognition of net funded status Components of pension expense Nature of Pension Plans Accounting for Pensions Using a Pension Worksheet Reporting Pension Plans in Financial Statements Defined .