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[DOC File]Chapter 11—Accounting for Current Liabilities
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Note 1 – Summary of Significant Accounting Policies. Pensions. For purposes of measuring the net pension liability or asset, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of all state sponsored pension plans and additions to/deductions from those plans’ fiduciary net position have been ...
accounting for pension plan

[DOC File]CHAPTER 20
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Pension liability. Pension assets. Note that this entry reduces both pension assets and pension liability. See the entries for return on assets, above. Pension liability is the employer=s liability to pay the defined benefit; i.e., it is the present discounted value of the cash expected to be paid to the retirees.
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[DOC File]NOTE 1 DESCRIPTION OF THE SCHOOL DISTRICT AND …
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The pension plan’s basic financial statement is accounted for using the accrual basis of accounting. The measurement date of the pension plans is June 30. Benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms.
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[DOCX File]Note 1: Summary of significant accounting policies
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OPF’s total pension liability as of December 31, 2014 is based on the results of an actuarial valuation date of January 1, 2014, and rolled-forward using generally accepted actuarial procedures. The total pension liability is determined by OPF’s actuaries in accordance with GASB Statement No. 67, as part of their annual valuation.
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Fundamentals of pension accounting and funding
If the pension plan’s fiduciary net position exceeds the total pension liability, the result is a net pension asset. Net Other Postemployment Obligation GASB Statement No. 75 “Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions” establishes standards for measuring and recognizing liabilities, deferred ...
pension service cost

[DOC File]Professor Paul Zarowin - NYU Stern School of Business
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Add to Note 1 – Summary of Significant Accounting Policies. Pensions. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of all state sponsored pension plans and additions to/deductions from those plans’ fiduciary net position have been ...
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Add to Note 1 – Summary of Significant Accounting Policies
Add to Note 1 – Summary of Significant Accounting Policies. Pensions. For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the (plan name) and additions to/deductions from the plan’s fiduciary net position have been determined on the ...
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[DOCX File]Home - Office of the Washington State Auditor
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The pension plan’s basic financial statement is accounted for using the accrual basis of accounting. The measurement date of the pension plans is June 30. Benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.
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Add to Note 1 – Summary of Significant Accounting Policies
The FASB now requires the accrual method of accounting for these costs. Therefore, the cost of these benefits must be expensed during the working years of the employees and recognize a liability to the extent that these obligations are unfunded, (matching principle of accounting). Pension Plan:
accounting for pension plan

[DOCX File]0111-01 Financial Reporting of Liabilities Policy
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In accounting for a pension plan, any difference between the pension cost charged to expense and the payments into the fund should be reported as a. an offset to the liability for prior service cost. b. pension asset/liability.
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Accounting for pension liability