What is meant by prior service cost? When is prior service cost recognized as pension expense?

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What is meant by “prior service cost”? When is prior service cost recognized as pension expense?

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Intermediate Accounting

ISBN: 978-0470423684

13th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

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Question Posted: Dec 23, 2010 06:47 AM

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What is meant by prior service cost? When is prior service cost recognized as pension expense?

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When a definedbenefit plan is either initiated or amended credit is often given t...View the full answer

Intermediate Accounting

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