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How to classify the items of defined benefit pension

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Reference no: EM132576020

Problem 1: How to classify the items of Defined benefit pension which are mentioned below in P&L,OCI and Blance sheet? What are the journal entries? (Please show me the in proper presentation and show for both increase or decrease if any for that particular items)

Obligation:

PV of obligation at opening
Interest cost at
Past service cost → Increases & Decrease
payment made that year
Gain/loss on settlement
Current service cost
PV of obligation at 31/12

Plan Asset:

Fair value at start of year
Expected return on plan assets
Contributions paid
Benefits paid
BALANCE = actuarial (gain)/loss
Fair value of obligation at end of year

Remeasurement

Remeasurement loss on obligation
Remeasurement gain on assets
Remeasurement loss due to asset ceiling
Net remeasurement loss

Reference no: EM132576020

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