Accounting for Pensions and Post Retirement Benefits
Field of Study:
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.
After completing this course you will be able to:
- Distinguish between defined contribution and defined benefit pension plans.
- Recognize terminology used in pension plan accounting.
- Calculate pension expense costs in a defined benefit plan.
- Identify the reporting requirements for pension plans in financial statements.
- Identify the differences between pensions and postretirement health care benefits.
- Recognize differences in accounting for pensions vs. accounting for other postretirement benefits.
- Identify proposed changed to the IFRS pension accounting standards.
Type of delivery method:
Recommended CPE credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org