SFAS No 87 Employers Accounting for Pensions requires an understanding
SFAS No. 87, “Employers Accounting for Pensions,” requires an understanding of certain terms.

a. Discuss the following components of annual pension cost:
i. Service cost
ii. Interest cost
iii. Actual return on plan assets
iv. Amortization of unrecognized prior service cost
v. Amortization of the transition amount
b. Discuss the composition and treatment of the minimum liability provision.

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