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Basic Question 10 of 15
Which of the following pieces of information should be disclosed in the notes to the financial statements?
II. A reconciliation showing how the projected benefit obligation and the fair value of the plan assets changed during the period
III. The funded status of the plan and the amounts recognized in the financial statements
I. The major components of pension expense
II. A reconciliation showing how the projected benefit obligation and the fair value of the plan assets changed during the period
III. The funded status of the plan and the amounts recognized in the financial statements
User Contributed Comments 3
| User | Comment |
|---|---|
| joywind | For III, Isn't the funded status supposed to be found in financial statement instead of the notes? |
| bidisha | the status is shown in the balance sheet but the details of it are to be discussed in the footnotes...refer to the last question |
| UcheSam | The footnote shows the plan assets and plan obligation that make up the fund status. |
Your review questions and global ranking system were so helpful.
Lina
Learning Outcome Statements
explain the financial reporting of defined contribution, defined benefit, and stock-based compensation plans
CFA® 2024 Level I Curriculum, Volume 2, Module 8.