Determine the actuarial gain or loss

Assignment Help Financial Accounting
Reference no: EM132569274

Entity D has established a defined benefit plan for its workforce. Relevant details are as follows:

i)The net defined benefit obligation at 31 March 2019 was £5 million.

ii)The net defined benefit obligation at 31 March 2020 was £8 million.

iii)The current service cost for the year ended 31 March 2018 was £10 million.

iv)The contributions paid by Entity D into the plan during the year ended 31 March 2020 were £9 million.

v)The benefits paid out by the plan to retired members during the year ended 31 March 2020 were £4 million.

vi)On 1 April 2019, the relevant discount rate for both the plan and obligation is 5%.

Question 1: Determine the actuarial gain or loss from the defined benefit plan.

Reference no: EM132569274

Questions Cloud

Do you agree with this attitude : Socrates said to his jurors, "Are you not ashamed that, while you take care to acquire as much wealth as possible
Prepare the journal entry to record transaction for dilawar : If Dilawar exercises the call provision and retires one-third of the bond issue on July 1, Year 3. Prepare the journal entry to record this transaction
Difference between hearing and listening to music : Using Beethoven's "Eroica", discuss, the difference between "hearing" and "listening to" music.
Assignment - Analytical Case Study : Assignment - Analytical Case Study. Task 1: Variable List. Using the variables listed in the table above, Describe each variable
Determine the actuarial gain or loss : Determine the actuarial gain or loss from the defined benefit plan. The net defined benefit obligation at 31 March 2020 was £8 million.
Examples of fallacy : Examples of each fallacy and explain what makes it that fallacy. I am struggling with fallacies so bad.
Determining the humanities resources : My main resource for my research was the Shapiro Library, some lived experiences, along with of course some Google search.
Determine the impairment loss and show clearly : Determine the impairment loss and show clearly how the loss should be accounted for in 2020 in Entity C. Explain all the relevant accounting issues
Non-representational work : Is it necessary to know the title of the piece to fully appreciate the work, or any other non-representational work?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd