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Pensions and Income Tax accounting

Descrição

FlashCards sobre Pensions and Income Tax accounting, criado por Eylin Nunez em 27-06-2015.
Eylin Nunez
FlashCards por Eylin Nunez, atualizado more than 1 year ago
Eylin Nunez
Criado por Eylin Nunez mais de 11 anos atrás
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Resumo de Recurso

Questão Responda
Defined benefit plan benefits employees receive at retirement are determined by a formula
Defined contribution plan contributions that sponsor company receives, determined by a formula (simple)
Accumulated Benefit Obligation (ABO) PV of future retirement payments, uses current/past salary levels
Projected Benefit Obligation (PBO) on BS, assumes future compensation levels
Vested employee has earned benefits
Service Cost PV of all pension benefits earned by co. employees in current yr
Interest Cost increase in PBO due to changes in actuarial assumption
benefit payments payments to plan participants after retirement
Projected Benefit obligation (PBO) formula
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Plan Assets stocks, bonds, other investments set aside to provide for pension benefits
Actual return on plan assets return on plan assets - returns on assets held by pension plan
Ending FV of Plan Assets Formula
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Net Periodic Benefits
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Interest Cost Formula
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expected return on plan assets formula
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amortization of unrecognized prior service cost formula
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Changes in Actuarial assumptions
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amortization of existing net obligation/asset at implementation(rare)
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pension plan contributions
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Net pension gain<loss> under GAAP, its the difference between expected return on plan assets and actual return on plan assets
Funded Status FV plan assets - PBO = Funded Status pension plan with a positive funded status will always report a noncurrent asset
Effective Tax Rate Effective tax rate = Income tax expense / Pretax income
Attribution Period period of an employee's service to which the expected postretirement benefit obligation for that employee is assigned

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