Accounting for Defined Benefit Pension Schemes ⏬👇

Accounting for Defined Benefit Pension Schemes details the International Accounting Standards (IAS) and Accounting Guidance that must be followed in the context of defined benefit pension schemes. The book covers the accounting treatment of both funded and unfunded defined benefit pension plans and covers all aspects from inception (setup) to reporting and termination.

It  provides a comprehensive description of accounting practices and issues in developing and applying accounting standards, accounting policy decisions and conformity to such standards, considerations affecting the adoption and use of fair value inputs and measurement alternatives to traditional market prices. The book is invaluable for students studying the subject, qualified accountants interested in the area, regulatory bodies such as the Financial Reporting Council and pension trustees wishing to understand comprehensive accounting developments which are likely to impact upon them both at present and in the future.

What does it cover?

The Schemes covers the requirements of accounting for defined benefit pension schemes in full. It explains how to record asset and liability accounts, the use of actuarial methods and the presentation of the financial statements. The contents are structured to allow readers to learn and apply without necessarily reading the chapters in order.

It provides explanation of how to account for defined benefit pension schemes, dealing with the specialist terminology and concepts associated with these instruments. It includes detailed guidance on areas such as recognition and measurement, calculation of contributions due, fair value, contributions policy and accounting standards. This is supported by worked examples illustrating key points in each chapter, as well as practical case studies that give a firm understanding of how to deal with issues in practice.

The accounting for defined benefit pension schemes covers all the rules, regulations and guidelines set by the government. The book addresses all aspects of accounting for pension schemes for an understanding of all obligations as well as deciding which liabilities should be recognised. It provides a comprehensive introduction to free cash flows and fair valuations. This text also includes a section on International accounting standards so it is ideal to use if you are interested in studying abroad.