IAS 19 · Workpapers (Step 4 of 5)
Workpaper assignment
- Course
- Exercises
- Case studies
- Workpapers
- Exams
Plan event: prior remeasurement, past service cost, settlement result and net interest for the rest of the period
Plan amendment and settlement during the year: prior remeasurement, past service cost, settlement loss and net interest for the rest of the period
Section 1 of 9
Objective
Section brief
- What to document
- The engagement, its scope and the working mode chosen.
- Why
- A workpaper answers one precise question: framing it avoids off-topic work.
- How
- Read the objective and the assignment, then choose the mode (guided, semi-guided, professional).
- Expected result
- You know which question the workpaper must settle, and for which reporting date.
- Your role
- Preparer of the IAS 19 workpaper
- Level
- Advanced
- Estimated time
- ≈ 90 min
- Progress
- 0 / 5 steps done (review excluded)
Context
Marquin SA (fictitious entity) closes its accounts on 31 December 20X6. On 30 June 20X6, the board decided three measures on its defined benefit pension plan, applicable on 1 July 20X6. You prepare the accounting for the events and the net interest of the second half-year.
Assignment
Amendment and settlement of the Marquin plan
Purpose of the workpaper
Date the event, remeasure the net liability (asset) with the current assumptions and the current fair value of the assets, then determine the past service cost or the settlement result and the net interest for the rest of the period. The remeasured amounts are case data; the classification of the event remains a supported judgment.
Questions of the file covered by this workpaper
- Compute the past service cost of the amendment.
- Record the past service cost.
- Compute the settlement loss.
- Record the settlement loss.
- Compute the net interest for the rest of the year.
Documents in the file
Open the documents to pick out the relevant information.