Final accounts-pension funds, Financial Accounting

Assignment Help:

FINAL ACCOUNTS

As pension funds are set up for a specific purpose, and not for trading, we do not prepare the normal trading profit and loss account or the balance sheet. The presentation for the final accounts are as per the requirements of IAS 26 (please see the appendix for other important definition) whereby instead of a trading profit and loss accountwe have the statement of changes in net assets. We also prepare the statement of net assets in the place of a balance sheet.


Related Discussions:- Final accounts-pension funds

Record performance of the services, Robin Corporation accepted credit cards...

Robin Corporation accepted credit cards for $34,200 of services performed in October 2011.The credit card company charged a 3% service fee and paid Robin as soon as it received the

Define risk-adjusted discount rates, Q. Define Risk-adjusted discount rates...

Q. Define Risk-adjusted discount rates? One technique in this heading is the assignment of investment projects to one of a set of risk classes all of which has a different disc

Various types of accounting changes can affect the financial, Various types...

Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material

Explain the term reporting interval - management accounting, Explain the te...

Explain the term Reporting interval - Management accounting For most businesses, financial accounting reports are produced on an annual basis, though some large businesses prod

Estimate a linear joint demand curve, Pinapple Inc. is deciding how to pric...

Pinapple Inc. is deciding how to price its two lines of laptops, one of which is a light one for travel (which is called Light) and the other is a powerful one (called Power). Thes

Calculate break-even point and qualitative factors, Evaluating a Company's ...

Evaluating a Company's Budget Procedures Springfield Corporation operates on a calendar-year basis.  It begins the annual budgeting process in late August, when the president

Economic substance, economic substance as in recognition of revenue

economic substance as in recognition of revenue

Definition of bankruptcy, DEFINITION OF BANKRUPTCY Bankruptcy is another ...

DEFINITION OF BANKRUPTCY Bankruptcy is another key area of accounting . The issues addressed here deal with the properties of an individual (a sole trader or partner in a partner

Formula of annuity, In common terms the present value of a regular annuity ...

In common terms the present value of a regular annuity may be shown as given below: PVNn = A/(1 + k) + A/(1 + k) 2 + ..................+ A/(1 + k) N = A (1/(1 + k) + 1/(

Major qualitative characteristics of accounting information, Four major qua...

Four major qualitative characteristics of accounting information There are four major qualitative characteristics which influence usefulness of accounting information. Additio

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd