Why didn't the FASB cover both types of postretirement benefits'pensions and healthcare'in the earlier pension accounting rules?

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

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

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: Why didn’t the FASB cover both types of postretirementbenefits—pensions and healthcare—in the…

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

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: Why did the FASB's prior pension accounting guidelines not encompass both pensions and healthcare as…

A: This question tells about  the FASB's prior pension accounting guidelines not encompass both…

Q: Which component of Kensington’s periodic pension cost would be shown in OCI ratherthan P&L?A .…

A:

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: 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: 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: 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: ification fo

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

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: Which type of pension plan would you prefer to be covered under (i.e., defined benefit, defined…

A: In this there are many types of pension plans available and each have own characteristics.

Q: Describe how a company's pension plans are reported when there are many plans, some of which are…

A: Organizations establish a single pension plan for its employees. However, some organizations have…

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: 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: 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: When an entity amends a pension plan, past service cost should be Recorded in other comprehensive…

A: Under a Pension plan, a regular amount is required to be contributed to a pension account and such…

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: 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: 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: 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: The two main types of pension plans are defined benefit plans and defined contribution plans.…

A: Pension plan is a plan under which either the employer or the employee contributes small amount of…

Q: components of pension expense

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

Q: For Pension Plans: A. Describe the differences between a Defined Benefit pension plan and a Defined…

A: Defined Benefit Pension Plan Defined benefit pension plan can clearly describes as it is absolutely…

Q: In what ways are pension plans and other post-retirement benefit plans different, if at all

A: Here is the Answer for In what ways are pension plans and other post-retirement benefit plans…

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: 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: 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: What are the components that might be included in the calculation of net pension cost recognized for…

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

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

A: Prior service cost: The change in the amount of projected benefit due to changes in the act or rules…

Q: In what ways are pension plans and other post-retirement benefit programs different, and why

A: This question explains about  pension plans and other post-retirement benefit programs different,…

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…