Contrast accounting for pensions to accounting for other postretirement benefits.

Q: What is the difference between insurance companies and pension funds?

A: Insurance and pensions funds are two quite different types of institutions.

Q: In what ways are pension benefits and post-retirement healthcare different?

A: This is about In what ways are pension benefits and post-retirement healthcare different

Q: What are two ways to measure the obligation for postretirement benefits other than pensions? Define…

A: Post-retirement benefit obligation refers to the present value of benefits that are expected to be…

Q: Describe how pension expense is a composite of periodic changes that occur in both the pension…

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

Q: Differentiate between a defined contribution pensionplan and a defined benefit pension plan. Explain…

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

Q: Distinguish fundamentally between a defined contribution and a defined benefit pension plan.

A: Given : This question tells about Distinguish between a defined contribution pension plan and a…

Q: Were you correct that the pension liability is not reported in the balance sheet? What is the…

A: Pension refers to the accumulated amount of money that is added during the employment period of an…

Q: ification fo

A: Employees working with an entity for a specific number of years are eligible for retirement…

Q: Describe the funded status of pension plans and how that amount is reported.

A: Pension:   It refers to the fund into which a sum is added during the course of employment years.…

Q: What is the difference between life insurance and annuity?

A: Meaning:Life insurance is a cover on financial loss, and it is a contract between insurer and a…

Q: Describe the nature of postretirement benefit plans other than pensions and identify the…

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

Q: When it comes to postretirement healthcare benefits, what are the primary distinctions between them…

A: The answer:

Q: Differentiate between “accounting for the employer” and “accounting for the pension fund.”

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

Q: look over the three most important components of the pension expense. The treatment of expected and…

A: Introduction  Companies account pension expense on accrual basis, accounting for pension plan…

Q: Discuss how income smoothing can be achieved as it relates to the recording of pensions.

A: Earnings Earnings refer to the profit after tax of the corporations. Earnings are the main element…

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

A:

Q: How should gains or losses related to pension plan assets be recognized? How does this treatment…

A:

Q: Do post-retirement benefits have a comparable accounting process to pension benefits?

A: The answer:…

Q: Accounting theory and standards faced with many problems in measurement, recognition's and disclose…

A: Accounting Standards:- These are the principles set for the framing of the financial reports of a…

Q: b. How does each component of pension expense affect pension expense during the period (increase,…

A: b) The components of pension expense are:- i. Service Cost - The increase in the projected pension…

Q: Define the interest cost component of the periodic pension expense.

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

Q: Define Contribution Pension Plans.

A: Pension plan:   This is the plan devised by corporations to pay the employees a kind of compensation…

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

A:

Q: How does each component of pension expense affect pension expense during the period (increase,…

A: Pension expense is referred to as an expense on which the corporation or business usually get…

Q: What are postretirement benefits other than pensions?

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

Q: components of pension expense

A: Pension expense is the cost incurred by employer towards employee's pension plans.

Q: What factors must be considered by the actuary in measuringthe amount of pension benefits under a…

A: Actuarial valuation is the assessment of the pension plan as required stutorily wherein the…

Q: What is meant by “past service cost”? When is past service cost recognized as pension expense?

A: Prior Service Cost- When an employee is granted a pension revision, the amount of benefit earned…

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: The financial disclosures related to a pension plan should include

A: Introduction As per relevant standard if there is any pension plan entity needs to disclose the…

Q: What are the major differences between post-retirement healthcare benefits and pension benefits?

A: For the benefits of pension, it is fixed with the contract terms and only the term is not known. And…

Q: what is the difference between Accumulated Benefit Obligation and Projected Benefit Obligation? How…

A: Difference between Accumulated Benefit obligation and projected benefit obligation: Accumulated…

Q: How does accounting for postretirement benefits similar in most respects to accounting for pension…

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

Q: When it comes to pension plans and other postretirement benefit schemes, what assumptions are made…

A: The answer

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: Describe the obligations of pension.

A: A pension is a plan of retirement that requires contribution from both the employer & the…

Q: Name three approaches to measuring benefit obligationsfrom a pension plan and explain how they…

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

Q: Identify the differences between pensions and postretirement healthcare benefits.

A: Both pension funds and post retirement healthcare benefits accrue to an employee after his/her…

Q: Explain Valuation of Pension Obligations.

A: Pension obligations: Pension obligations of an employer under a defined benefit plan are to be found…