1 a. Briefly describe how are pension gains and losses recognized.    b.  Explain what are pension gains and losses and why they are not recognized in net income in the period in which they arise.

Q: Contrast accounting for pensions to accounting for other postretirement benefits.

A: Pension plan: This is the plan devised by corporations to pay the employees an income after their…

Q: In the world of pension accounting, how does a "asset gain or loss" develop? In the world of pension…

A: The answer

Q: Why did the FASB's prior pension accounting guidelines not encompass both pensions and healthcare as…

A: This question tells about  the FASB's prior pension accounting guidelines not encompass both…

Q: Which component of Kensington’s periodic pension cost would be shown in OCI ratherthan P&L?A .…

A:

Q: The components of postretirement benefit expense are similar to the components of pension expense.…

A: Other postretirement benefits: The postretirement benefits which are provided by employers, other…

Q: are the key accounting issues in determining the

A: Pension Accounting Many organisations provide additional benefits to their employees in addition to…

Q: A pension asset is reported when

A: Answer: Pension asset is defined as the asset that is created due to pension plan for purpose of…

Q: 1. Plans qualifying for preferential tax treatment must meet minimum participation and vesting…

A: “Since you have asked multiple question, we will solve the first question for you. If you  want any…

Q: Alternative methods exist for the measurement of the pension obligation (liability). Which measure…

A: Answer: The pension obligation is liability and it is to be paid once the employees retire.

Q: Explain how cash-basis accounting for pension plans differsfrom accrual-basis accounting for pension…

A: Under cash basis of accounting pension cost are recognised on the basis of cash paid by the employer…

Q: What two components of pension expense may be negative (i.e., reduce pension expense)?

A:

Q: Net interest cost is a component of pension expense under IFRS. How is net interest cost calcul…

A: Net Interest cost is calculated by taking the difference between interest expense on defined benefit…

Q: A pension plan is underfunded when the employer’s obligation (PBO) exceeds the resources available…

A: Projected benefit obligation (PBO): This is the estimated present value of future retirement…

Q: When an entity amends a pension plan, past service cost should be Recorded in other comprehensive…

A: Under a Pension plan, a regular amount is required to be contributed to a pension account and such…

Q: If pension expense recognized in a period exceeds the current amount funded by the employer, what…

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: In computing the interest component of pension expense, what interest rates may be used?

A: Pension expense: Pension expense is an expense to the employer paid as compensation after the…

Q: Under a nonqualified pension plan, I. the yearly earnings on the pension plan assets are taxable…

A: Non qualified  Pension Plan are Non qualified because it does not comply with Employee Retirement…

Q: pose of the Employee Retireme

A: The Employee Retirement Income Security Act of 1974 (ERISA) created preemptionprinciples that are…

Q: In accounting for a pension plan, any difference between the pension cost charged to expense and the…

A: Answer: In accounting for a pension plan, any difference between the pension cost charged to expense…

Q: The calculation used by social security to calculate retirement benefits is meant to replace a(n

A: Social Security: The social security benefits mean those payments that are made to the retirees…

Q: Question text The relationship between the amount funded and the amount reported for pension expense…

A: In case of multiple questions are posted together, the first question is solved. Pension expense is…

Q: describe the two elements which determine the net periodic pension expense.

A:

Q: (Basic Terminology) In examining the costs of pension plans, Helen Kaufman, CPA, encounters certain…

A: a. 1 The service tenure of the employee is matched with the addition of benefits to the pension…

Q: Question 10 Which of the following is not part of compensation income? Vacation and sick leave pay…

A: Compensation income includes the payment received by the employee in exchange for service provided…

Q: Define unfunded pension liability

A: Pension Liability:   Pension liability refers to the amount of money that a private company,…

Q: Determine if this shall result in recognition of liabilities 11. withholding of taxes on employees'…

A: The employer will need to pay the amount  of tax withhold on employees compensation to government.

Q: Explain what are pension gains and losses and why they are not recognised in net income the period…

A: Income statement: The financial statement which reports revenues and expenses from business…

Q: How do U.S. GAAP and IFRS differ with regard to reporting gains and losses from changing assumptions…

A: Definition: Pension plan: It refers to a plan that is formulated to provide earnings to the…

Q: Under PAS 26 (Accounting and Reporting by Retirement Benefit Plans), investments held by retirement…

A: PAS 26 deals with the requirements for the preparation of financial statements of retirement benefit…

Q: Explain the following terms. Include the definition, how they are calculated, treated in the…

A: In addition to salaries, many companies offer other benefits to their employees such as pension…

Q: Question 13 Pension expense is decreased by: A- Amortization of prior service cost. B-Amortization…

A: Pension expenses is the amount that a business charges to expenses in relation to its liabilities…

Q: Question 6: Which of the following is not a voluntary deduction from gross earnings? Answer: A. O…

A: Paycheck: A paycheck is given by a business to pay a representative for services delivered. It is a…

Q: which of the following are non financial claims?   pension obligations taxes payable both…

A: Instead of a physical net value, financial claims are based on contractual claims.

Q: a "asset gain or loss" in the context of pension accounting? What is the development of a "liability…

A: Plan assets: Assets are created, maintained and planned in a specific purpose. The contribution of…

Q: How are the costs of providing postretirement benefits other than pensions expensed?

A: Definition:   Post-retirement benefit expense: This is an expense to the employer-paid as…

Q: QUESTION 1  Explain the following terms. Include the definition, how they are calculated, treated in…

A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Q: If pension expense recognized in a period exceeds the current amount funded by the employer, what…

A: Pension: A fixed sum of money, receivable in future or after the age of retirement, which the…

Q: 3. How much from the pension expense is recognized in the 2021 other comprehensive income or loss?…

A: Pension is a type Government Expense however it is beneficial for government retired employees.They…

Q: describe the components of a company’s defi ned benefi t pension costs;

A: COMPONENTS OF COMPANY   1.  Cash : A primary factor in a big series of scenarios comprising of start…

Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.