Busi 450 Notes

Only available on StudyMode
  • Download(s) : 369
  • Published : June 12, 2012
Open Document
Text Preview
Notes on this assignment (Problem P19-11)

• While this company is an “Inc.” and is a private company in Canada, it is part of a multinational group and would therefore comply with IFRS. (Ref: requirement e)

• The rate of compensation increase of 3.5%, while interesting, is not needed in these calculations as it would have been one of many assumptions used by the actuary would have applied in developing the current service cost, which is provided.

• Both the EPFE (amortize past service costs) and EARSL (apply if corridor is triggered) in this question are 20 years.

• Note the supplemental questions.

• In preparing the pension worksheet, use Dr. or Cr. after each amount; it will help greatly in understanding the “two sides” of the entry that may (not always!) be are placed in separate entities; the operating company and the pension plan.

• Ensure that you receive a confirmation that your file has been successfully uploaded; Mac users have problems with Vista; best to submit as a pdf file in the assignment upload.

|PROBLEM 19-11 Requirement (a) | |Beaton and Gunter Inc. | |Pension Work Sheet—2011 | | | |General Journal Entries | |Pension Plan - Memo Record |

| | | | | | | | | | |

Items | |
Annual
Pension...
tracking img