Accounting and Auditing Accounting for Pensions Pensions and Postretirement Benefits

Accounting for Pensions Pensions and Postretirement Benefits

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  • Course Delivery: On Demand
  • Credit Hours: 4
  • Credit Type: Accounting

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Description

Description:
The pension fund is a separate legal and accounting entity. Although a company is not required to have a pension plan, if it does it must follow financial accounting standards and government accounting and presentation dictates. The major types of pension plans are defined contribution and defined benefit. The course presents reporting by a trustee for the plan, including the requirements surrounding pension plan financial statements. The accounting for settlements, curtailments, and terminations is presented. Postretirement benefit plans other than pensions are also discussed. Finally, the accounting and reporting for postemployment benefits are presented.

Learning Objectives:
1. Distinguish between defined contribution and defined benefit pension plans.
2. Recognize terminology used in pension plan accounting.
3. Calculate pension expense costs in a defined benefit plan.
4. Identify the reporting requirements for pension plans in financial statements.
5. Identify the differences between pensions and postretirement health care benefits.
6. Recognize differences in accounting for pensions vs. accounting for other postretirement benefits.
7. Identify proposed changed to the IFRS pension accounting standards.

Topics Covered:

  • Pension Plans
  • Settlement, Curtailment, and Termination
  • Trustee Reporting In a Defined Benefit Pension Plan
  • Postretirement Benefit Plans Other Than Pensions
  • Employers' Disclosures about Pension and Other Postretirement Benefits
  • Pension Plan Financial Statements
  • Employers' Accounting for Postemployment Benefits
  • Profit Sharing Plans
  • ASC, FASB, and Difference between GAAP and IFRS

Delivery Method: Online

Level: Overview

Prerequisites: None

Category : Accounting and Auditing

Field of Study: Accounting

Passing Score : 70%

NASBA: Yes, QAS Self Study

Author: Delta Publishing

ABOUT THE SUBJECT MATTER EXPERT:
Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,
California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.

 

Course Objectives

1. Distinguish between defined contribution and defined benefit pension plans.
2. Recognize terminology used in pension plan accounting.
3. Calculate pension expense costs in a defined benefit plan.
4. Identify the reporting requirements for pension plans in financial statements.
5. Identify the differences between pensions and postretirement health care benefits.
6. Recognize differences in accounting for pensions vs. accounting for other postretirement benefits.
7. Identify proposed changed to the IFRS pension accounting standards.

 

Topics Covered

  • Pension Plans
  • Settlement, Curtailment, and Termination
  • Trustee Reporting In a Defined Benefit Pension Plan
  • Postretirement Benefit Plans Other Than Pensions
  • Employers' Disclosures about Pension and Other Postretirement Benefits
  • Pension Plan Financial Statements
  • Employers' Accounting for Postemployment Benefits
  • Profit Sharing Plans
  • ASC, FASB, and Difference between GAAP and IFRS

 

 

Regulatory Information

Accounting For Pensions and Post Retirement Benefits - National Association of State Boards of Accountancy (NASBA)

  • Name:
  • National Association of State Boards of Accountancy (NASBA)
  • Phone:
  • 615-880-4200
  • Fax:
  • 615-880-4290
  • Website URL:
  • http://nasba.org/
  • Email Address:
  • [email protected]
  • Address:
  • NASBA
  • City:
  • Nashville
  • State:
  • TN
  • Zip:
  • 37219-2417
 

Subject Matter Expert

Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,
California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.

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