Accounting for Pensions and Compensated Absences (18-1)

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Overview

4.0 Credits
ONLINE

High quality on-demand CPE courses which are available anytime. All our on-demand CPE courses are in compliance with standards issued by the AICPA and NASBA.

Objectives

After completing this course, you will be able to (1) account for a defined contribution pension plan, (2) measure the compfter completing this course, you will be able to (1) account for a defined contribution pension plan, (2) measure the components of periodic pension expense under the defined benefit pension plan, (3) measure the amount of net pension asset or liability under the defined benefit pension plan, (4) recognize the appropriate disclosures regarding defined benefit pension plans that should be made in the notes to the financial statements, (5) account for compensated absences such as liability for vacation and liability for sick pay benefits, and (6) recognize the main differences between U.S. GAAP and IFRS in relation to accounting for pension plans and compensated absences.

Major Topics

Defined Contribution Plan, Defined Benefit Plan, Defined Benefit Plan -- Components of Pension Expense, Employer Disclosures for a Defined Benefit Pension Plan, Compensated Absences

Prerequisite

General understanding of calculating amounts of pension service costs
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