Beruflich Dokumente
Kultur Dokumente
6 – Employee Benefits
Page
79
Chapter
6
–
Employee
Benefits
Page
80
Chapter
6
–
Employee
Benefits
Page
81
Chapter
6
–
Employee
Benefits
6-‐7.
Defined
Benefit
Cost
Benefit
Liability
(Asset)
Other
Profit
or
Comprehensive
Benefit
Loss
Income
Obligation
Plan
Assets
Beginning
balances
8,200,000
8,500,000
Current
service
cost
1,200,000
1,200,000
Interest
cost
10%
x
8,200,000
820,000
820,000
10%
x
8,500,000
(850,000)
850,000
Actuarial
gain
or
loss
On
Benefit
(40,000)
(40,000)*
Obligation
On
Plan
Assets
780,000-‐850,000
70,000
(70,000)
Contribution
1,500,000
Ending
balances
1,170,000
30,000
10,180,000
10,780,000
*Squeezed
(a) Defined
benefit
liability/
asset,
January
1,
2015
P8,200,000
–
P8,500,000
P300,000
asset
(b) Actuarial
gain
or
loss
(1)
On
plan
assets
(780,000
–
850,000)
P70,000
loss
(2)
On
benefit
obligation
(squeezed,
see
above)
P40,000
gain
(c) Retirement
Benefit
Cost
taken
to
Profit
or
loss
P1,170,000
Other
comprehensive
income
P
30,000
(d) Retirement
Benefit
Expense
1,170,000
Remeasurement
of
Defined
Benefit
Asset/Liability
–
OCI
30,000
Defined
Benefit
Liability/Asset
300,000
Cash
1,500,000
(e) Defined
Benefit
Asset
Beginning
balance
P300,000
Overfunding
(1,500,000
–
1,200,000)
300,000
Ending
balance
–
asset
P600,000
(f) Remeasurement
of
Defined
Benefit
Asset/Liability
–
OCI
50,000
Defined
Benefit
Asset/Liability
50,000
6-‐8.
(a)
Fair
value
of
plan
asset,
ending
P4,950,000
Fair
value
of
plan
assets,
beginning
P4,600,000
Contributions
to
the
plan
500,000
Benefits
paid
(700,000)
Balance,
before
actual
return
P4,400,000
Actual
return
on
plan
assets
P
550,000
Page
82
Chapter
6
–
Employee
Benefits
Page
83
Chapter
6
–
Employee
Benefits
MC25 A Full amount of past service cost is recognized as expense P 580,000
MC26
A
Actuarial
gain
or
loss
is
taken
to
other
comprehensive
income,
not
in
profit
or
loss
Zero
Page
84
Chapter
6
–
Employee
Benefits
MC30
B
Retirement
benefit
cost
taken
to
profit
or
loss
P1,324,000
Actuarial
gain
on
benefit
obligation
(70,000)
Actuarial
gain
on
plan
assets
12%
x
3.8M
=
456,000
12%
x
3.8M
=
456,000;
456,000
–
550,000
(94,000)
Total
retirement
benefit
cost
P1,160,000
Contributions
to
the
fund
750,000
Underfunding
P
410,000
Page
85
Chapter
6
–
Employee
Benefits
MC38
C
P4.2M
–
P3.3M
=
900,000
asset;
however,
the
asset
amount
is
limited
by
the
present
value
of
future
refunds
and
reductions
in
future
contributions
of
P500,000;
so
the
defined
benefit
asset
will
be
shown
at
P500,000
only.
Page 86