Pension Plan Funding and IFRS

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PENSION PLAN FUNDING AND THE IFRS7 PENSION PLAN FUNDING AND THE IFRS Introduction International Financial Reporting Standards (IFRS) describes a common method or modality by which the financial reporting of different business organizations is carried out. Initially, different countries used to have their distinct and separate standards of financial reporting. Financial reports are possibly obtained from the financial statements of any business organization. A financial statement as principle mode enables a company to present its f0inalncial information to the outsiders who may have the interest of having the knowledge of a company's financial status. They give the position of a company's financial status, comprehensive income statement, cash flow statement, and equity changes statement. The adoption of International financial Reporting is a result of the intensive Activities within the capital global markets, which have stimulated the necessity of assuming a common ground for financial disclosure and transparency in many of the countries all around the world. This adoption exhumes a substantial difference from every country's previous terms and principles on pension computation and response. Coca-Cola is one of the companies that are guided by the international Financial Reporting Standards in the computation and awarding of pension plans, while PepsiCo is apparently not entirely a subject to the IFRS. They are bound to such terms as; choosing the manner in which to
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