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SFAS No. 87, Employers Accounting for Pensions, requires an understanding of certain terms. Required: a. Discuss the following components of annual pension cost: 1. Service
SFAS No. 87, "Employers Accounting for Pensions," requires an understanding of certain terms. Required: a. Discuss the following components of annual pension cost: 1. Service cost 2. Interest cost 3. Actual return on plan assets 4. Amortization of unrecognized prior service cost 5. Amortization of the transition amount b. Discuss the composition and treatment of the minimum liability provision
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