Companies that offer pension plans must
follow often-perplexing financial accounting standards and government
accounting and presentation dictates. This course will help you sort
through the major types of pension plans and understand specific
terminologies related to these plans. This course also presents
reporting by a trustee for the plan, including the requirements
surrounding pension plan financial statements.
Other topics covered include:
Accounting for settlements, curtailments, and terminations
Non-pension post-retirement benefit plans
Accounting and reporting for post employment benefits
Under-funded or over-funded pensions
Reporting requirements for pension plans in financial statements
Upon successful completion of this course, participants will be able to:
Recognize the characteristics of and includible items in defined contribution and defined benefit pension plans.
Recognize terminology used in pension plan accounting.
Calculate pension expense costs in a defined benefit plan.
Identify the accounting and reporting requirements for pension plans in financial statements.
Defined-Benefit Pension Plans
Total Pension Expense
Actuarial Gains and Losses/Prior Service Costs
Gain or Loss
Smoothing Unexpected Gains and Losses on Plan Assets
Smoothing Unexpected Gains and Losses on the Pension Liability
Pension Plan Benefit Formula
Underfunding or Overfunding
Summary of Accounting for Pension Plans
Employers Having More Than One Defined-Benefit Plan
Annuity (Allocated) Contracts
Pension Reform Acts
Settlement, Curtailment, and Termination
Postretirement Benefit Plans Other Than Pensions
Employers' Disclosures about Pension and Other Postretirement Benefits
Pension Plan Financial Statements
Net Assets Available for Benefits
Statement of Changes in Net Assets Available for Benefits
Actuarial Present Value of Plan Benefits
Changes in Actuarial Present Value of Plan Benefits
Who Should Attend
Open to all financial accountants, managers and directors.
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