Interest Cost – NBC Institute

CR – Nov 2016 – L3 – Q2b – IAS 19 – Employee Benefits

Account for a pension scheme under the defined benefit plan for Patience Pass All Ltd.

Question

The following information relates to the pension scheme of Patience Pass All Limited for the year ended 30 April 2016:

The pension costs have not been accounted for in the total comprehensive income as the Accountant of the company is not qualified yet and lacks sufficient knowledge on the provisions of IAS 19 Employee Benefits.

Required:
Demonstrate how the above transaction would be accounted for under the provisions of IAS 19 Employee Benefits, including relevant extracts to the financial statements for the year ended 30 April 2016.

Answer

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Tags: Defined Benefit, Interest Cost, Pension Scheme, Service Cost
Level: Level 3

Topic: IAS 19: Employee Benefits
Series: NOV 2016

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CR – Nov 2016 – L3 – Q2b – IAS 19 – Employee Benefits

Account for a pension scheme under the defined benefit plan for Patience Pass All Ltd.

CR – Nov 2016 – L3 – Q2b – IAS 19 – Employee Benefits

Account for a pension scheme under the defined benefit plan for Patience Pass All Ltd.

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Question Tag: Interest Cost

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CR – Nov 2016 – L3 – Q2b – IAS 19 – Employee Benefits

Account for a pension scheme under the defined benefit plan for Patience Pass All Ltd.

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CR – Nov 2016 – L3 – Q2b – IAS 19 – Employee Benefits

Account for a pension scheme under the defined benefit plan for Patience Pass All Ltd.

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