PAS 26

22問 • 10ヶ月前

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It applies to the presentation of financial statements of retirement benefit plans

PAS 26

This PAS views a retirement benefit plan as a reporting entity separate from the employers of the participants in the plan.

PAS 26

It deals with the accounting and reporting by the plan to all participants as a group, rather than individually regarding their retirement benefit rights

PAS 26

It does not apply to government social securi type arrangements and employees benefits other than retirement benefits

PAS 26

It is the transfer of assets to an entity separate from the employer’s entity to meet future obligations for the payment of retirement benefits

Funding

How does PAS 26 view a retirement benefit plan?

Separate from the employers of the participants in the plan

What types of retirement benefit plans does PAS 26 apply to?

All types of retirement benefit plans

What does PAS 26 not apply to in terms of retirement benefit plans?

Government social security type arrangements and employee benefits

How are vested benefits defined in a retirement benefit plan?

Benefits not conditional on continued employment

How often are actuarial valuations prepared for retirement benefit plans?

every three years

What are the key components of disclosure for retirement benefit plans according to PAS 26?

Summary of significant accounting policies, description of the plan, details of investments, funding and investment policies, actuarial present value of promised retirement benefits, and more

What is the main difference between a Defined Contribution Plan and a Defined Benefit Plan in terms of contributions?

Defined Contribution Plan is discharged by making agreed contributions, Defined Benefit Plan is not discharged by making contributions

What determines the benefits in a Defined Benefit Plan?

Definite amounts determined by the plan formula

What does the Statement of net assets available for benefits in a Defined Contribution Plan include?

Actual contributions and investment performance

What does the Statement of net assets available for benefits in a Defined Benefit Plan include?

Net assets available for benefits and actuarial present value of promised retirement benefits, distinguishing between vested and nonvested benefits

The amount of benefits to be received by employees enrolled in a defined benefit plan is

neither a nor b

It is a type of retirement plan where the benefit to be received by the employee is dependent on the contributions made to the plan and on the investment performance of the plan. The risk that the benefits to be received may be insufficient is retained by the employe

defined contribution plan

It is a type of retirement plan where the employer assures a definite amount of benefit to be received by the employee. The risk that funds needed to pay the agreed benefits may be insufficient is retained by the employer

defined benefit plan

Where a post- employment benefit plan contains characteristics of both defined contribution and defined benefit, the plan is considered to be

defined benefit plan

It refers to a plan where both the employer and employee contribute to a retirement fund

contributory plan

It refers to a plan where only the employer contributes to a retirement fund

non contributory plan

It refers to a plan where plan assets are transferred to a trustee who assumes obligation of managing the fund and disbursing funds to retiring employees

funded plan

Cfas (overview of accounting)

ユーザ名非公開 · 75問 · 11ヶ月前

Cfas (overview of accounting)