Recognition principles LO2, 3 Sunshine Company operates a pension scheme that offers defined benefit pensions for

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Recognition principles  LO2, 3 Sunshine Company operates a pension scheme that offers defined benefit pensions for the benefit of the company’s employees. At the end of the reporting period, the present value of the defined benefit obligation is $105 million and the fair value of the defined benefit scheme assets is $109 million. Required Is the pension scheme a related party of the Sunshine Company? Explain.

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Financial Reporting

ISBN: 978-0730363361

2nd Edition

Authors: Janice Loftus ,Ken Leo ,Sorin Daniliuc ,Belinda Luke ,Hong Nee Ang ,Karyn Byrnes

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