Accounting for Pensions (4 hrs)

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Course Description

Accounting for Pensions and Postretirement Benefits

The pension fund is a separate legal and accounting entity.  Although a company is not required to have a pension plan, if it does it must follow financial accounting standards and government accounting and presentation dictates. The major types of pension plans are defined contribution and defined benefit. The course presents reporting by a trustee for the plan, including the requirements surrounding pension plan financial statements. The accounting for settlements, curtailments, and terminations is presented. Postretirement benefit plans other than pensions are also discussed. Finally, the accounting and reporting for postemployment benefits are presented.

Course information

Price: $59

Course No. 7031
Format: Online pdf (102 pages). Printed book available.
Instructional Delivery Method: QAS Self-Study
Prerequisites: None
Advance Preparation:None
Level: Overview
CPE Credit: 4 hrs.
Field of Study: Accounting
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: October 2018


After studying this course you will be able to:
1. Distinguish between defined contribution and defined benefit pension plans.
2. Recognize terminology used in pension plan accounting.
3. Calculate pension expense costs in a defined benefit plan.
4. Identify the reporting requirements for pension plans in financial statements.
5. Identify the differences between pensions and postretirement health care benefits.
6. Recognize differences in accounting for pensions vs. accounting for other postretirement benefits.
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