SFAS No. 87, Employers Accounting for Pensions, requires an understanding of certain terms. Required: a)...

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Accounting

SFAS No. 87, Employers Accounting for Pensions, requires an understanding of certain terms. Required:

a) Discuss the following components of annual pension cost :

i. Service cost

ii. Interest cost

iii. Actual return on plan assets

iv. Amortization of unrecognized prior service cost

v. Amortization of the transition amount

and Discuss the composition and treatment of the minimum liability provision

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