FAS158 to IAS 19 recon: Pension accounting recognized, understand, accounting

soverby

Just want to get my head around this bizarre topic...

This is what I understand:
FAS 158: Funded status = Fairvalue of Plan assets - PBO
Add yet to be recognized "smoothed events"
---------------------------------------------------------
IAS 19: Net asset/liability

Lets say P/A 100; PBO 50; "events": 75; and this year amortz amt of smoothed events: 7.5

Now,
FAS158: (I am not sure if this is how it is disclosed)
Plan assets: 100
PBO-Liability:50
-----------------------
Funded status=50
-----------------------

Whereas IAS19:
Plan assets: 100
PBO-Liability:50
Unrecogz events:67.5
PBO rel. liab: 137.5
-----------------------------
Net Asset/Liab37.5)
----------------------------
OCI Adj: (67.5) [I am not sure if this is how adjusted]

Can someone who thinks is on top of the topic, correct/comment this with relevant explanations?



Edited 1 time(s). Last edit at Thursday, May 26, 2011 at 05:14PM by ov25.