- NY Credits : 7.0
- TX Credits : 7.0
Accounting for Pensions
ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, introduce important changes to the presentation of defined benefit postretirement benefit costs. This work comes out of the FASB's 2016 agenda consultation. With respect to the sponsor's accounting for defined benefit plans, the Board concluded that changes in recognition and measurement were not needed but improvements to presentation was. This course provides complete and current coverage of the topics of accounting and reporting of pensions and required disclosures in employer's financial statements as specified in the FASB's Accounting Standards Codification. This course includes quotations from the Accounting Standards Codification that are used with permission.
Upon successful completion of this course, the user should be able to:
describe attribution of periodic pension costs,
identify actuarial and ERISA considerations,
define pension liability,
describe settlements and curtailments of defined benefit pension plans,
explain termination benefits, and
explain reporting and disclosure requirements by defined benefit plans.