which of the following are non financial claims?   pension obligations taxes payable both pension obligations and taxes payable  notes payable

Q: Which of the following journal entries would be recorded when an entity contributes cash to its…

A: Journal Entry for Contribution to Defined Benefit Pension Plan will be: Defined Befit Pension…

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: When accounting for pension costs, how should the payment into the pension fund be recorded? How…

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

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: 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: What is the role of an actuary relative to pension plans?What are actuarial assumptions?

A: An actuarial valuation is a kind of evaluation and appraisal of the assets and liabilities of…

Q: How does an “asset gain or loss” develop in pension accounting? How does a “liability gain or loss”…

A: Plan assets: Assets which are created, maintained and planned for a specific purpose or benefit is…

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: Which are the components that are included in the pension expense?

A: Pension plan: Pension plan is an agreement between the employer and employee. After the retirement…

Q: Describe the Components of Pension Expense.

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

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: 1 a. Briefly describe how are pension gains and losses recognized.    b.  Explain what are pension…

A: Pension gain and losses arise due to change in the underlying assumptions which affect the total…

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

A:

Q: Discuss the relative objectivity of the measurement process of accrual versus cash (pay-as-you-go)…

A: Pension is the regular payment allowed for an employee after their active working life. It is a…

Q: What is the general term that covers social insurance and pension fund payments alone with wages and…

A: Social security schemes, is the term that covers social insurance and pension fund payments alone…

Q: Estimated liabilities commonly arise from all of the following except: Top of Form Multiple Choice…

A: Unearned revenue arises on the basis of advance received from customers. It is recognized as earned…

Q: Describe the Settlement or Curtailment of Pension Plans.

A:

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: What are some other pensions plans, and how do they differ from the Defined Contribution Pension…

A: A retirement plan that would earn the investments return in addition to the savings of each…

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: Define the service 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: What are the assumption of differences between pension plans and other postretirement benefit plans?

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

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: components of pension expense

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

Q: What interest rates may be used to calculate the pension expense's interest component?

A: The Answer for interest rates may be used to calculate the pension expense's interest component:

Q: Why didn't the FASB cover both types of postretirement benefits'pensions and healthcare'in the…

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

Q: What is an actuary? What is the actuary’s role in pension administration

A: Actuaries are highly experienced specialists who handle issues such as determining premium pricing…

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: 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: How is the pension expense influenced by changes in the pension liability and plan assets?

A: Pension Expense: These are the costs that are associated with the pension plans and these expenses…

Q: What determines whether a pension plan is underfunded or overfunded?

A: An overfunded pension plan is a plan which possess more assets as compared to the liabilities. An…

Q: 1. How to find out the acturial gains and losses on the defined benefit obligation and the defined…

A: The US GAAP and IFRS principles have a similar method of measuring pension benefit obligations but…

Q: Describe the requirements for reporting pension plans in financial statements.

A: A retirement plan under which the employer contributes to a particular fund that is kept for the…

Q: What are the changes that affect the pension expense?

A: The net periodic pension costs includes: 1. Current service cost 2. Past service cost 3. Interest…

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 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…

Q: Explain Valuation of Pension Obligations.

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

Q: What exactly does "previous service cost" mean? When is past service cost recognized as a pension…

A: This question about  describes "Previous service cost" might indicate several different things. When…

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.