The IASB is currently working on proposals that would significantly change the reporting standards for postemployment plans.
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(a) What is proposed with respect to changes in the discount rates used to calculate the present value of the obligations? See, on the IASB website (www.iasb.org), the Exposure Draft Discount Rate for Employee Benefits, August 2009. Why is the IASB considering changes in this?
(b) As noted in the chapter, the IASB is contemplating changes to the accounting for pension plans. Summarize these changes. Why do you think the IASB is contemplating these changes?
Discount Rate
Depending upon the context, the discount rate has two different definitions and usages. First, the discount rate refers to the interest rate charged to the commercial banks and other financial institutions for the loans they take from the Federal...
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a Currently under IFRS a company uses a high quality corporate bond rate for the discount rate assumption In times where there is no deep market for these types of bonds then a government bond rate ca...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
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