Accounting for Employer Pension Costs
  1. What is a pension plan?
  2. Wht type(s) of pension plan(s) are covered under FAS No. 158?
  3. Differentiate between the accumulated benefit obligation and the projected benefit obligation.
  4. What are the components of periodic pension expense?
  5. Define the service cost compent of periodic pension expense.
  6. Define prior service cost. How is prior service cost included in pension expense?
  7. How are gains and losses on related to the pension plan recognized?
  8. What components are pension expense could be negative; that is, reduce pension expense for the period?
  9. When accounting for pension expense, how should any difference between net periodic pension expense and the payment into the pension fund be reported?
  10. What was the major change brought about by FAS No. 158 vs. FAS no. 87?
  11. Does FAS No. 158 change the manner is which the periodic pension expense is calculated?

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