35 Flashcards
deck 35
is the G/L from TS transactions a direct adj. to SE under cost method?
yes
what is a distinguishing feature of a noncomp. SO?
no JE til employee purchases the stock
when is the earliest date that a company can record JE’s for a compensatory SO if it were initially issued “out of the money”?
at the svc. period date
will CY plan amendments to increase ben. payouts increase PBO?
yes, it will
under IFRS, are G/L amort’d out of OCI into the I/S?
no, they remain in OCI under IFRS
does IFRS include interest income on plan assets into defined benefit cost?
yes, they do
what is the JE to record a current period pension gain?
Dr: pen ben A/L
Cr: OCI
what is the treatment for retroactive adj’s under IFRS for pension plans?
it will increase defined ben. obl. and defined ben. svc. cost
for DCPP’s, is the burden of funding shared b/w employer and employee with no fixed amt promised at retirement?
yes, it is shared
*the burden falls on the employee, but employer may contribute as well
under GAAP, will a company disclose a reconc. of funded status b/w GAAP and IFRS related to its pen. plan?
no, it prob will not
what happens when avg. life expectancy decreases and retirement age increases in regards to pension plans?
amortization will decrease net per. pen. cost
can DCPP’s be over/underfunded?
no, they cannot
are net per. pen. costs affected by payouts?
no, but PBO and FV plan A’s are
what are the types of leases that can be tested for impairment?
- cap leases/lessees
- long-lived assets of lessors
subject to op. leases - proved oil and gas properties that are being acc’d for using successful-efforts method
- LT prepaid assets
which categories do IFRS allow an exception of “impracticality”?
change in AP and correction of errors
