Accounting for Pensions and Post Retirement Benefits ON DEMAND

Overview

The need to properly administrate and account for pension funds is critical. There are very specific requirements for pension accounting and postretirement benefits. This course is designed to help you navigate the complexities of pension funds. It begins with an overview of the pension system in the U.S. It addresses the significance of pension federal laws, including the Employee Retirement Income Security Act, the Pension Protection Act, the Multiemployer Pension Reform Act, and the American Rescue Plan Act. This course also provides current coverage of the requirements for accounting and reporting on pension plans and post-retirement benefits. Relevant references to and excerpts from ASC 715, ASC 960, and ASC 962 are discussed throughout the course.

Highlights

Overview of the pension system. Pension accounting and reporting. Accounting for defined benefit plans. Measurement of plan assets. Measurement of cost and obligations. Recognition of liabilities and assets. Considerations for postretirement benefits. Reporting for defined benefit plans. Accounting and reporting for defined contribution plans.

Prerequisites

None.

Designed For

CPAs.

Objectives

Identify the key provisions of pension federal laws. Distinguish between defined benefit and defined contribution plans. Identify the way to evaluate plan assets. Recognize various measures of pension obligations. Identify the components of pension expense. Recognize the pension assets (overfunded plan) and pension liabilities. Identify the unique accounting practice of postretirement benefits. Recognize the reporting requirements for the employer and pension plans.

Preparation

None.

Notice

None.