Refer to the situation described in E 17–8.

Data from in E 17-8

Pension data for Sterling Properties include the following:

Required:
How might your answer differ if we assume Sterling Properties prepares its financial statements according to International Financial Reporting Standards (IFRS)? The interest rate on high-grade corporate bonds is 6%.

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Service cost, 2024 Projected benefit obligation, January 1, 2024 Plan assets (fair value), January 1, 2024 Prior service cost-AOCI (2024 amortization, $8) Net loss-AOCI (2024 amortization, $1) Interest rate, 6% Expected return on plan assets, 10% Actual return on plan assets, 11% ($ in thousands) $112 850 900 80 101