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International Accounting Standards (IAS)
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| U.S. GAAP | IFRS, IAS | Accounting Topics |
International Accounting Standard (IAS) 26
Accounting and Reporting by Retirement Benefit Plans
International Financial
Reporting Standards (IFRS) |
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International Accounting
Standards (IAS) |
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U.S. GAAP by Topic |
| International Accounting Standard (IAS) 26 | |
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IAS 26
Accounting and Reporting by Retirement Benefit Plans Issued in
January 1987
Reformatted in 1994 |
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Defined
contribution plans --> financial statements include the following: (1) statement of net assets available for benefits (2) description of funding policy |
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Defined
benefit plans --> financial statements can be presented using one of the following formats: (1) format 1 (2) format 2 |
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Format 1 --> a statement of net assets available for benefits --> presented with (1a) or (1b) (1a) a note disclosing --> actuarial present value of promised retirement benefits (distinguish vest benefits and non-vested benefits) (1b) a reference to --> actuarial present value of promised retirement benefits (distinguish vest benefits and non-vested benefits) --> in an actuarial reported accompanied |
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Format 2 --> a statement with the following information: (2a) net assets available for benefits (2b) actuarial present value of promised retirement benefits (distinguish vest benefits and non-vested benefits) (2c) resulting excess or deficit |
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Retirement
benefit plan investments --> carried at fair value |
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