Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Chapter 19, Problem 4C
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Describe the conceptual issues related to pension liabilities and assets, and explain the manner in which GAAP resolves the conceptual issues.
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Explain and discuss the key accounting issues in determining the method of accounting for defined benefit pension plans.
Identify the components of pension expense. Briefly explain the nature of each component
Access the FASB Accounting Standards Codification at the FASB website ( asc.fasb.org ). Determine the specific citation for accounting for each of the following items: 1. The disclosure required in the notes to the financial statements for pension plan assets. 2. Recognition of the net pension asset or net pension liability. 3. Disclosures required in the notes to the financial statements for pension cost for a defined contribution plan.
Chapter 19 Solutions
Intermediate Accounting: Reporting And Analysis
Ch. 19 - Prob. 1GICh. 19 - Prob. 2GICh. 19 - Prob. 3GICh. 19 - Prob. 4GICh. 19 - Prob. 5GICh. 19 - Prob. 6GICh. 19 - Prob. 7GICh. 19 - Prob. 8GICh. 19 - Prob. 9GICh. 19 - Prob. 10GI
Ch. 19 - Prob. 11GICh. 19 - Prob. 12GICh. 19 - Prob. 13GICh. 19 - Prob. 14GICh. 19 - Prob. 15GICh. 19 - Prob. 16GICh. 19 - Prob. 17GICh. 19 - Prob. 18GICh. 19 - Prob. 19GICh. 19 - Prob. 20GICh. 19 - Prob. 21GICh. 19 - Prob. 22GICh. 19 - Prob. 23GICh. 19 - The actuarial present value of all the benefits...Ch. 19 - Prob. 2MCCh. 19 - Prob. 3MCCh. 19 - Prob. 4MCCh. 19 - Prob. 5MCCh. 19 - Prob. 6MCCh. 19 - Which of the following is not a component of...Ch. 19 - Prob. 8MCCh. 19 - Prob. 9MCCh. 19 - Prob. 10MCCh. 19 - Prob. 1RECh. 19 - Prob. 2RECh. 19 - Pinecone Company has plan assets of 500,000 at the...Ch. 19 - Prob. 4RECh. 19 - Prob. 5RECh. 19 - Prob. 6RECh. 19 - Prob. 7RECh. 19 - Prob. 8RECh. 19 - Given the following information for Tyler Companys...Ch. 19 - At the beginning of Year 1, Cactus Company has...Ch. 19 - Prob. 11RECh. 19 - Prob. 1ECh. 19 - Prob. 2ECh. 19 - Prob. 3ECh. 19 - Prob. 4ECh. 19 - Prob. 5ECh. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - Prob. 10ECh. 19 - Prob. 11ECh. 19 - Prob. 12ECh. 19 - Prob. 13ECh. 19 - Refer to the information provided in E19-13....Ch. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Prob. 1PCh. 19 - Prob. 2PCh. 19 - Prob. 3PCh. 19 - Prob. 4PCh. 19 - Prob. 5PCh. 19 - Prob. 6PCh. 19 - Prob. 7PCh. 19 - Prob. 8PCh. 19 - Prob. 9PCh. 19 - Prob. 10PCh. 19 - Prob. 11PCh. 19 - Prob. 12PCh. 19 - Prob. 1CCh. 19 - Prob. 2CCh. 19 - Prob. 3CCh. 19 - Prob. 4CCh. 19 - Prob. 5CCh. 19 - Prob. 6CCh. 19 - Prob. 7CCh. 19 - Prob. 9C
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- Explain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in the financial statements. Defined Benefit Obligation Plan Assets Pension Asset/Liability Pension Expense Other Comprehensive Income (OCI) gain/lossarrow_forwardWhat method should be used to account for profits or losses associated with pension plan assets? What is the relationship between this treatment and the handling of profits or losses connected to the pension obligation?arrow_forwardExplain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in the financial statements. Pension Expense Other Comprehensive Income (OCI) gain/lossarrow_forward
- QUESTION 1 Explain the following terms. Include the definition, how they are calculated, treated in the accounting records (general ledger) and shown in the financial statements. Defined Benefit Obligation Plan Assets Pension Asset/Liability Pension Expense Other Comprehensive Income (OCI) gain/lossarrow_forwardWhat are the four basic components of pension expense? Select one: A. Service cost, benefits paid, expected return on plan assets, and amortization of deferred amounts B. Service cost, benefits paid, actual return on plan assets, and amortization of deferred amounts C. Service cost, interest cost, actual return on plan assets, and amortization of deferred amounts D. Service cost,interest cost, expected return on plan assets, and amortization of deferred amounts E. None of the abovearrow_forwardlook over the three most important components of the pension expense. The treatment of expected and actual return on plan assets, particularly when the actual return is greater than the expected, the amortization of prior service cost and the unexpected gain/ loss. Discuss the accounting treatment of these items with suitable examples.arrow_forward
- The financial disclosures related to a pension plan should include:arrow_forwardUnder IFRS, any difference between the pension expense and the payments into the pension fund plan assets should be reflected in Select one: a. a contra account to the net defined benefit liability/asset. b. an accrued actuarial liability. c. the net pension liability/asset. d. a note to the financial statements only. e. None of the above.arrow_forwardIdentify the five components that comprise pension expense. Briefly explain the nature of each component.arrow_forward
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