— NAME: Dance caneaes va cy MPLOVERENETIES pers Sect 1 3 Aeccrding 1 PAS 19, trem nployes basen me recrrions a Atenthyearend de ee emptor bs rere even ee 8 AS moons © Gus semteoorhty baie Ae Accondng te PAS To, conto 4 defined comrtaton plan ae reco 6p At cach year ec £ Sit ce player maken hone comesbetiont 2 When an employes hae rendered ures tn exchange for Soe comers “Ett tepinning of exch reporting Prod yaion of aghoymet p> Troe ae cme Een tb a son tm wc re Prete o enon Tred © Pomepoyment _B. Defined Benefit plan @ Aw 1g. “Whew poemplomeat sip coins chasis of bot tion cms al ei aes © tans considered 1 be 2 Defined contibution plan Ze. High bree plan bh Defined benefit plan 4 Acs (A vfs ton pen wre bot the employer ad npoye comin sree et a. Conboy plan Fonte pin ib Now- contributory plan @. Chip in plan Boe Itvefrstoa plan wher ony the employer comtate ta retirement fond ‘a Contributory plan Unfinded.plan ‘ E Nomcnontbelry pea taser A Teor or plan whee pa sc ae transfor tree who sex clieton of mein mh disbursing te funds to retiring employees (Funded plan © Unfimded plan ’b. Non-contibutory plan 4. Ousourcing plan C. Ite toa plan whee pen ef any, stn an mana iy the mes a. Funded plan _S., Unfunded plan Delicate plan b. Non-contributory plan Ak “These are pool of assets contributed by a various unrelated emplayers to be sed to pay retirement benefits t0 without regard to the identity of the contributing-employers. participants (a Multi-employer plan ‘e Pooling of asset plan ’. State plans d. Secretpia p 213. Malti-employer plans are treated as a. Defined contribution plan cc: Hybrid plan be Defined benefit plan gd AorB ‘These are established by legislation and are operated by 8 goverument agency whichis not subject 10 contol or A influence by the reporting entity 4 State plans c. GSIS b. SSS . Puro plan CJ State plans are a. Accounted for as defined contribution plan ¢_ Accounted for in the same way as muti- employer plans b. Accounted for as defined benefit plan 4. Accounted for only by the commission on AudSeen 16The nocounting for defined contention plan * ge hearalghtorwarlaotuarlal computations are e, Is simpler not necounted for AOE nee " Sidon ney Cran , Incompler- actuarial computations are required [p 17. Under dete sonttbton plan, the retement ana expose I Equa to an ntuaealy determined amount aunt de Zero, 0 2 the contitution made during the period ayes retired during he period bh aquat tothe agreed periodic contribution to th cea vice rendered by employecs. yee benefit are ll forma of conrderaton given by an en In eachante fr by emot ‘ofthe following emplayee benefits isnot with the scope of : = 1, Short-term (Other long-term 2, Share-based Ps 4. Termination © Feaonpayment Dis. thorns tring ampeye tae! sere moanty miro afc Seem win S50 cneutbione 20 poet Snot siancn we howe ht ac a “Can be carried over to the next period if not fully used during the year of entitlement, Br Expireifnot fully used during the year of entitlement 2 Can be carried over tothe next period ifnot fully used d = the employee leaves the company. 4. Are recognized only when actually taken by employees A 2: Thos areal fons consideration given by an ent in exchange for service ended by employees. ‘ar Employee benefits ©. Fringe benefits 5. Employee compensation Salaries and wages 1) 22: tinder PAS 19, enplayeo bonefits include al of tho followin, except ‘2. Short-term employee benefits b._Postemployment benefits, such as pensions, defined contribution plans, defined benefit plans, postemployment insurance and postemployment medical care. ‘e. Other long-term benefits, including long-term service leave, sabbatical leave and long-term disability benefits &,_ Share-based payments ~ CC, 23. Short-term employee benefits include all ofthe following. except ‘a. Wages, slaries and social security contributions. by Short-term compensated absences. Short-term employee benefits by definition are payable no later than twelve months after the end of the current Ju Is not with the scope of PAS 197 "e.One aack rice allowance ‘S._ Bonus in the fore of entity shares —1S\ turing the year of entitlement and are paid in eash when, FC earglogpentt boner a. Prretiorm employee benefit obligations are measured oa a discountel basis ' (95: These are compensated absences that are carried forward and can be used in-fubure:periods and the employees are entitled to a cash payment for unused entitlement on leaving the entity. 2° Accumulating and vesting ©, Non-accumulating and vesting b. Accumulating and Non-vesting » ...Non-accumulating:and Non-vesting ~-# 26. Postemplayment employee benefits include all ofthe following, except ‘a Nonmonetary benefits such as housing, car, and c. . Postemploymentlife insurance DB ™ See or subsidized goods 4. Postemployment medical care b._ Retirement benefits, such as pensions ~*xst crdoyrrert CG 27. Under a defined contribution plan i Bi, The entity’s legal or constructive obligation is limited:to:the'amount:itagreesto contribute to the fund. ii, The entity’s obligation is to provide the agreed benefits to:current andformer employees. pp, a. Tonly 4 > Both and Il C ; b. Tonly ? . @ Neither I nor I — (~ 28. It is a benefit plan under which an entity pays a fixed contribution into 2 separate-find:and will have no legal or v constructive obligation to pay urthsrenae bition: ie Sand ocomee'nullzenteerpeyemployer ‘benefits. a. Postemployment benefit plan & Defined benefitplan b. Defined contribution plan 4. Malti-employer plan |e Miie is incorreet concerning the recognition and measurement of a defined contribation:plan? a. The contribution shall be recognized as expense in the period it is payable. b. Any unpaid contribution at the end of the period shall be recognized as accrued liability. c. Any excess contribution shall be recognized as prepaid expense but only to the extent that the prepayment will le to a reduction in future payments or cash refund. _d. An entity shall not disclose the amount recognized as expense for a defined contribution plan.3 et maneenn te ee yo ea a ee encase soson ms mom ms e nN “Sie won slition? india ve emo meio A 38 re re aes bed by an catty, the pryor find employee bent = a a pian sets g, Retepment fund ei natty one net at sti fowng conto, ent Cin tad elegy Separts fom te reporting est aa i eePae be used only to see te employee benefit obligations. Ene Ee earned tothe cae even ifthe remaining asses of the fund are not sufficient to Pee Sie fot serait ogni. Sn abit the reporting enty’scedtors even in bankropey. [Asset iat py ted by an ret nt lated pry he peng eta te reso een area Ponty to pay or and eaployee benefits ner a defined benefit pln. «5 Qualifying insurance poly oan ®._ Agere poloy 4. Urcomdtonat insurance plicy 36 Which ncorrestconering return on pln ss? ° Se ee teeta he exes got ihe nome semen. i Thedflerence betwee the expected return and acl return on plan assets is n-actanial gin F155 The Sepeend ren on plan acts basd on market expecations atthe bepining of the period, fr retums over the 4. Indetermining the expected and actual retur on plan assets; an entity shall deduct plan.administration cost not {inched in actuarial assumptions used in measuring defined benefit obligation, and tax payable by the plan itself: (Ct Wich of tne following sould be acd in plan sete? Asst eld ya longrm omployes bent find 5 oe are beaten ®. Tonly @._ Neither Fnor IL C3 iis the ineease the present value ofthe defined benefit obligation for employee service in prior periods, resulting in the curent period from the introduction or amendment of defined benefit plan. ‘2. Current service cost b, Interest cost _&. Past service cost ‘4. Employee benefit cost 8G, Itis the excess of the fair value of the plan assets over the present value of the defined benefit obligation. _4. Surplus 'b. Projected benefit obligation ‘c. Accrued benefit cost d. Accumulated benefit obligation \ a6: These are employee benefits that are payable as a result of an-entity'sdecision-to-terminate an employee's ‘employment before the normal retirement date; or anvemployee's.decisionsto:accept-vohmtary redundancy in exchange for those benefits. A. Termination benefits c. Longsterm-benefits d.:-Postemployment benefits A ’b. Short-term benefits pak HNO co S§S. The gain or loss on cutilmsht or Selement shall be kK a. Recognized wh carina rset oY ‘i -b. Recognized in other comprehensive income.’ 3A al, . Deferred and amortized over the average remaining service period of the covered:employees. -d- Treated as a change in accounting poticy.~ - A [42 The employer's obligation fr is employees’ pension plan must be ily accrued when 2 the employees fly lg fr ben ¢._ the employee:ispaid with his retirement pay 43. No.l, etereeae srplyeebenafi shold berecogissdin bereted heard mat Nols Thecogofpoving eopye recognized in the period which the benetiCis the No.2, Social Security System retirement benefits an example of a defined benefit post-employment benefit pl ‘a the, true b. true, false «. false, true 6. false; false =— dyes no er rnFatt eno rig et come of opment ent cn ie he i at 5 Peano pst evs cot ya 48 No Vinder the dened conebton plan, the seo ‘5. Soren sevice com Srethgees oft sro yment of tenet of fern employee mil incre the nd wilincronse the pas eke ars AUR Pay Ment of beefs wil decree the pn act pitino te i of eet employee e a. 7 AT) 48, when meals : ‘D) 4% wen he vale ofthe peso fond saa reste tan the pote tone een reported as prepa pension cone : ra = Sed erecomen ey suse reported as acroed pension |S. Nowresoped onthe blonee sest (w%9. Which of the following is not a component of net periodic pension cost? Co Te ueat cost retirees "c. BeneSts paid to so. Coammitaton of nso gi cw Amortization of prior service cost . Which ofthe follow should be inc i cost o 1) hich of be folowing components rl te ned hci tron con gn ore ‘Actual Return Amertization of (O&O) nian Assets, Unrecognized Prior Interest ‘IfAny Service cost. If Any. Cost No No Yes Yes No. Yes Yes Yes No ‘Yes ® 4 Yes Yes ss 1) A pos-enplyment nfl wer the employer neh ita obiionto ay sengenninis $2 2. Contributory plan. funded plan 5. Nomeontributory plan d, unfunded plan IB |52. The enterprise's obligation is the amount it agrees to contribute to ‘a separate fund to.cover payment of future: > retirement benefits. ‘t.Defined contribution plan Contributory plan _b, Defined benefit plan a. Unfunded plan A® tis the inerease inthe present value ofthe defined benefit obligation resulting from employes service in ht curent period. ‘a, current service cost ©, partservice cost ». interest cost 4. unrecognized actuarial loss ah D 54, A type of post-employment benefit plan wherein the employer is not required to contribute additional funding in cases where the value of an entity's plan assets are not sufficient to cover its liabilities relating to the post-employment benefits is: O ‘4, Defined Contribution Plan © Vesting Plan B_ Defined Benefit Plan D_ Non-Vesting Plan (A 55: What isthe mandated method of determining the present value of the defined benefit obligation? ‘a, Projected unit credit method c.. Individual level premium method b, Entry age normal method , Aggregate method