[tmturner74]

Is it ok to start a FAR Study Group? I retook Audit yesterday and although I don’t have a gut feeling either way if I passed or not, I am going to start on FAR. I am using Becker self-study and purchased the Ninja Notes for FAR.

I am looking forward to reading a/b everyone’s progression. Good Luck!

 

Aud- 11/28/12 (72), 02/27/13 (72), 04/06/2013 77!!
FAR-tbd
BEC-tbd
REG-tbd

[Anonymous]

or may you mixed it with postretirement expense

pension = 15

postretirment =20

[Anonymous]

or may you mixed it with postretirement expense

pension = 15

postretirment =20

[Anonymous]

Yes. You are correct! It is 15. I initially thought that, than I wanted to check to make sure and I looked at the wrong page. From what I understand an Existing Net Pension Liability or Asset would be as such: Pre FASB 87 pension plans (1986-1988 transition period) were required to evaluate their funded status of their plans at the date of transition (FV Plan assets vs. PBO) and any asset or liability that was measured at that date was required to be amortized over the remaining 15 years.

So after reading the codification, I basically understand it as follows (as Peter Olinto would say… “Okay in English”) before FASB 87 employers were allowed to account for their pension expense in a manner that wasn't consistent with accrual accounting (sounds like they just expensed what they contributed or something close to that?) so than at the date of implementation of FASB 87 they were required to determine the FV of their Plan assets and than compare that to their PBO and amortize the difference over the greater of 15 or service life.

That's about all I got out of that… Clear as mud!

[Anonymous]

Yes. You are correct! It is 15. I initially thought that, than I wanted to check to make sure and I looked at the wrong page. From what I understand an Existing Net Pension Liability or Asset would be as such: Pre FASB 87 pension plans (1986-1988 transition period) were required to evaluate their funded status of their plans at the date of transition (FV Plan assets vs. PBO) and any asset or liability that was measured at that date was required to be amortized over the remaining 15 years.

So after reading the codification, I basically understand it as follows (as Peter Olinto would say… “Okay in English”) before FASB 87 employers were allowed to account for their pension expense in a manner that wasn't consistent with accrual accounting (sounds like they just expensed what they contributed or something close to that?) so than at the date of implementation of FASB 87 they were required to determine the FV of their Plan assets and than compare that to their PBO and amortize the difference over the greater of 15 or service life.

That's about all I got out of that… Clear as mud!

[Anonymous]

thanks that is more than enough to know

last more thing before i move to deferred taxes

page 19 ,about special term benefits

what is this and what is that calculation

doesn't make any sense at all

[Anonymous]

thanks that is more than enough to know

last more thing before i move to deferred taxes

page 19 ,about special term benefits

what is this and what is that calculation

doesn't make any sense at all

[Anonymous]

Thanks for the explanation!

[Anonymous]

Thanks for the explanation!

[Anonymous]

Hi everyone,

I am new here and I took regulations. I studied becker and invested like 200 hours and I know the entire book but I have not received my score yet. I just have a feeling that I did not do well. I don't know how to study better, any suggestions? Thanks!

[Anonymous]

Hi everyone,

I am new here and I took regulations. I studied becker and invested like 200 hours and I know the entire book but I have not received my score yet. I just have a feeling that I did not do well. I don't know how to study better, any suggestions? Thanks!

[Anonymous]

Special Termination Benefits: Benefits where the employer offers termination benefits for a short period of time in exchange

for an employee's voluntary termination.

The formual is tricky but I think it similar to bonds. You have your Lump Sum Payments (So say your paying 1,000 for a lump sum for them to accept the termination benefits). Than you have your added PV termination benefit (so say they will get 50 dollars a year for 12 years or 5,000 3 years from now) it would be PV of those discounted.

[Anonymous]

Special Termination Benefits: Benefits where the employer offers termination benefits for a short period of time in exchange

for an employee's voluntary termination.

The formual is tricky but I think it similar to bonds. You have your Lump Sum Payments (So say your paying 1,000 for a lump sum for them to accept the termination benefits). Than you have your added PV termination benefit (so say they will get 50 dollars a year for 12 years or 5,000 3 years from now) it would be PV of those discounted.

[Anonymous]

the calculation is ok

but the problem is in what is the special termination benefits

when that is happen?

i think if you give example without numbers i will be fine

thanks

[Anonymous]

the calculation is ok

but the problem is in what is the special termination benefits

when that is happen?

i think if you give example without numbers i will be fine

thanks

[Anonymous]

I guess its hard to conceptualize but it would be as such… Say you worked for a Corporation and you were accruing a pension benefit to be paid out at retirement. From what I understand it would be as if you voluntarily (the corporation was willing) to pay you a “special” benefit for you to forgo the pension and take a lump sum payment in lieu of that.

Anyone else that may have a better example speak up!

[Author]

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