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Case Master

In: Business and Management

Submitted By ertai
Words 517
Pages 3
Course: IFRS
Assignment: 2
Student: Tim Bakker
Student nr: 0206164
Cooperated with: Claudia Bakker & Sendy Ho

1.
The calculation of the current service cost, the pension liability and the interest cost for the three years can be seen in the table below:
|Yr |Salary |Current service cost |Discounted current service cost |Interest cost (5% x |Pension liab. brought |Pension liab. at |
| | | | |liability) |forward |year end |
|1 |100,000 |14,400 |13,061 | | |13,061 |
|2 |120,000 |14,400 |13,714 |653 |13,061 |27,428 |
|3 |144,000 |14,400 |14,400 |1,371 |27,428 |43,199 |
| | | | | | | |
|Total |43,200 |41,175 |2,024 | | |

2.
IAS says the following:
[IAS 19.54] For defined benefit plans, the amount recognised in the balance sheet should be the present value of the defined benefit obligation (that is, the present value of expected future payments required to settle the obligation resulting from employee service in the current and prior periods), as adjusted for unrecognised actuarial gains and losses and unrecognised past service cost, and reduced by the fair value of plan assets at the balance sheet date.
Using IAS 19.54 we come to the…...

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