tailieunhanh - Lecture Intermediate accounting (IFRS 2nd edition): Chapter 20 - Kieso, Weygandt, Warfield

Chapter 20 - Accounting for pensions and postretirement benefits. In this chapter students will 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. | PREVIEW OF CHAPTER Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 20 Use a worksheet for employer’s pension plan entries. Explain the accounting for past service costs. Explain the accounting for remeasurements. Describe the requirements for reporting pension plans in financial statements. Explain the accounting for other postretirement benefits. After studying this chapter, you should be able to: Accounting for Pensions and Postretirement Benefits 20 LEARNING OBJECTIVES Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Identify types of pension plans and their characteristics. Explain measures for valuing the pension obligation. Identify amounts reported in financial statements. An arrangement whereby an employer provides payments to retired employees after for services they performed in their working years. Pension Plan Administrator Contributions Employer Retired Employees Benefit Payments Assets & Liabilities NATURE OF PENSION PLANS LO 1 Pension plans can be: Contributory: employees voluntarily make payments to increase their benefits. Non-contributory: employer bears the entire cost. Qualified pension plans: offer tax benefits. Pension fund should be a separate legal and accounting entity. NATURE OF PENSION PLANS LO 1 Use a worksheet for employer’s pension plan entries. Explain the accounting for past service costs. Explain the accounting for remeasurements. Describe the requirements for reporting pension plans in financial statements. Explain the accounting for other postretirement benefits. After studying this chapter, you should be able to: Accounting for Pensions and Postretirement Benefits 20 LEARNING OBJECTIVES Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Identify types of pension plans and their characteristics. Explain measures for valuing the pension obligation. Identify amounts reported in financial statements. Defined . | PREVIEW OF CHAPTER Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 20 Use a worksheet for employer’s pension plan entries. Explain the accounting for past service costs. Explain the accounting for remeasurements. Describe the requirements for reporting pension plans in financial statements. Explain the accounting for other postretirement benefits. After studying this chapter, you should be able to: Accounting for Pensions and Postretirement Benefits 20 LEARNING OBJECTIVES Distinguish between accounting for the employer’s pension plan and accounting for the pension fund. Identify types of pension plans and their characteristics. Explain measures for valuing the pension obligation. Identify amounts reported in financial statements. An arrangement whereby an employer provides payments to retired employees after for services they performed in their working years. Pension Plan Administrator Contributions Employer Retired Employees Benefit Payments Assets & .