Pension Plans And Accounting For Leases

Front 1

Long Term Liabilities Valued at?

Back 1

PV

Front 2

What is the difference between ABO and VBA?

Back 2

Both at current Salaries. ABO Included non vested employees.

Front 3

PBO

Back 3

Projected benefit obligation. Future salaries, all emplyees. Nobody used to use it because of off b/s financing, but FAS 158 made it mandatory.

Front 4

What are the components of pension expense?

Back 4

SC-INT-Actual Return on Plan assets-Amortization of pror SC-Gains/Losses

Front 5

INT =?

Back 5

PBO b.o.y * SR

Front 6

ARPA?

Back 6

Actual return on plan assets= FVPA b.o.y* ERPA

Front 7

What two main items are memo accts and are not recognized in the statements, but rather in the notes?

Back 7

PBO-Projected benefit obligation

and

PPA=Pension Plan Assets

Front 8

What are the two "Other Comprehensive Income accts" that are not all recognized right away, but are smoothed over time?

Back 8

Prior service costs

and

Acturial Gains and losses

Front 9

What are the 5 J/E colums on the pension worksheet? (Hint:They all lead up to the memo acct. colums)?

Back 9

Pension Expense
Cash
OCI-PSC (prior service costs)
OCI-Gains and Losses
Pension Asset/Liability

Front 10

How do you get Actual return on Plan Assets?

Back 10

The change end -Beg balance less contributions and benefits paid.

Front 11

PE=

Back 11

SC+INT-RetOnPA+AMORTNET LOSS+Amort of Prior SC

Front 12

Worksheet:

SC ->

Back 12

Increase Dr. PE and Increase the PBO Cr. PBO

Front 13

Worksheet:

IC->

Back 13

Increase Dr. PE and Increase the PBO Cr. PBO

Front 14

Worksheet:

Actual return->

Back 14

Increase Dr. PE and Increase