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Sunshine4ever

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tT
发表于 2011-7-13 13:20 | 只看该作者

FSA: pension expense under IFRS and GAAP

amount
are they the same? or IFRS also put un-amortized amount in it? Thanks.
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2#
发表于 2011-7-13 13:20 | 只看该作者
I think the difference in reporting pension expense is the following:

IFRS - the vested part of past service costs is amortised
the unvested part: amortisation is spread over the average period until the benefits become vested

U.S.GAAP - past service cost is reported under comprehensive income and amortised over the average service life of the affected employees

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kkn006

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3#
发表于 2011-7-13 13:20 | 只看该作者
Yes, the formula is the same except under U.S.GAAP the 'Amortisation of transition (asset)/liability is to be added in exceptional cases, however I would rather omit this. And of course the actuarial assumptions can cause differences in the DB pension expense.
On p.209 of the FRA curriculum there is a useful summary table on this topic.

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