If the balance sheets of a firm reporting under U.
If the balance sheets of a firm reporting under U.S.GAAP and a firm reporting under IFRS show equal pension liabilities, it is most likely that:
A.both firms’ defined contribution plans are underfunded.
B.the funded status of the U.S.GAAP firm’s pension is equal to its pension liability.
C.the IFRS firm’s pension is underfunded by a greater amount than the U.S.GAAP firm’s pension.
参考解答
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2024-10-27 12:28:46
Ans:B.
Under U.S.GAAP, the asset or liability reported on the balance sheet for a defined benefit pension plan reflects the funded status of the plan.Under IFRS, the balance sheet asset or liability does not include prior service costs or actuarial gains and losses.The net effect of these differences on funded status can be positive or negative.Defined contribution plans do not represent future obligations of the firm and, therefore, do not appear on the balance sheet.
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