On January 1, 2011, Tuesbury Corporation amended its defined benefit pension plan, resulting in $1,125,000 in past service costs. Tuesbury Corporation expects to receive economic benefits, through increased employee productivity and morale, over the next 15 years, at which point the employees will be eligible for their full pension benefits. Currently, all employees who are affected by the plan amendment are already vested.
Calculate the past service costs included in the pension expense for the December 31, 2011 fiscal year under the deferral and amortization method under both PE GAAP and IFRS.

  • CreatedAugust 23, 2015
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