The following information is available for the year ended 31 March 20X6 (values in $m): Present value
Question:
Present value of scheme liabilities at 1 April 20X5 $1,007; Fair value of plan assets at 1 April 20X5 $844; Benefits paid $44; Expected return on plan assets $67; Contributions paid by employers $16; Current service costs $28; Past service costs $1; Actuarial gains on assets $31; Actuarial losses on liabilities $10; Interest costs $58.
Required:
(a) Calculate the net liability to be recognised in the statement of financial position.
(b) Show the amounts recognised in the statement of comprehensive income.
Expected Return
The expected return is the profit or loss an investor anticipates on an investment that has known or anticipated rates of return (RoR). It is calculated by multiplying potential outcomes by the chances of them occurring and then totaling these...
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Plan assets at 31 March 20 X6 m Opening balance 844 Expected return on ...View the full answer
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Related Book For 
Financial Accounting and Reporting
ISBN: 978-0273744443
14th Edition
Authors: Barry Elliott, Jamie Elliott
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