Question

Below is an excerpt from the note disclosure (excerpts from Note 12) of the Canadian National Railway Company’s December 31, 2008 annual report.
Instructions
Using the above disclosure notes, answer the following questions.
(a) Is the company’s pension plan in a surplus or deficit status position at December 31, 2008? 2007?
(b) What is the amount reported for the pension expense for December 31, 2008, and 2007? What could cause these trends?
(c) What was the amount of cash flow used to fund the plan for 2008 and 2007? Why would there be differences in the annual funding amounts? How does this compare with the expense that is showing for the company for the related years?
(d) Discuss whether or not you believe that the pension expense is faithfully presented in the profit or loss statement for the years 2008 and 2007.


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  • CreatedAugust 23, 2015
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