asu 2017 07 example – asu 2017 07 effective date

Accounting Standards Update 2017-07—Compensation—Retirement Benefits Topic 715: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost By clicking on the ACCEPT button you confirm that you have read and understand the FASB Website Terms and Conditions,

FASB separates service cost from other pension cost

Net Periodic Pension Benefit

 · Net periodic pension benefit: ASU 2017-07 Improving the presentation of net periodic pension cost and postretirement benefit cost

Auteur : KPMG US

March 11 2017 On March 10 2017 the Financial Accounting Standards Board FASB issued Accounting Standards Update ASU 2017-07 Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost Other than a practical expedient being added to accommodate restating prior period income statements, the final

 · ASU 2017-07 provides a practical expedient which permits an employer to use amounts disclosed in its pension and postretirement plan notes for the prior comparative periods as the estimated basis for applying retrospective presentation requirements Appendix ASU 2016-01 example disclosures Pending new pronouncement potential disclosure, The following is an example of a pending pronouncement

FASB Updates Pension Accounting Guidance

Historically, ASU 2014-07 [3] 40% in the example above, The amendments in ASU 2018-17 align these two assessments, Now, the reporting entity should consider indirect interests in an entity held through related parties under common control with the decision maker on a proportionate basis rather than in their entirety for both the VI and PB tests, Effective Date and Transition Requirements

Accounting Standards Update No 2017-12—Derivatives and

ASU 2017-07 Assuming regulators continue with traditional capitalization and expense recovery of retirement benefit cost in rates, utilities will need to address a number of impacts including: — PP&E – establish regulatory asset for non-service cost CWIP — Regulatory asset/liability – link to related asset Amortization – record outside operating income AFUDC – consider balance of

Accounting Standards Update 2017-07—Compensation

ASU 2017-07 applies to any employer that sponsors a defined benefit pension plan, other postretirement benefit plan, or other types of benefits accounted for under Topic 715, The amendments require that an employer disaggregate the service cost component from the other components of net benefit cost, as follows: Service cost must be presented in the same line items as other employee

Heads Up — FASB Amends Guidance on Presentation of Net

KPMG reports on FASB ASU 2017-07, which amends ASC 715, The FASB ASU requires a company to present service cost separately from the other components of net benefit cost, Applicability, ASU 2017-07 , A company that sponsors employee defined benefit pension or other postretirement benefit plans, Relevant dates, Effective date: Annual periods – Fiscal years beginning after, Interim periods

ASU 2017-07 Improving the Presentation of Net Periodic

 · Fichier PDF

 · ASU 2017-07 requires entities to 1 disaggregate the current-service-cost component from the other components of net benefit cost the “other components” and present it with other current compensation costs for related employees in the income statement and 2 present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented

Recent benefit plan-related accounting standards updates

Accounting Standards Update No, 2017-12—Derivatives and

Accounting Standards Update ASU 2017-07 – Compensation

 · EEI Accounting Standards Committee –2017 Spring Accounting Conference 7 Example application • Assume the following: Periodic Benefit Cost ASU 2017-07 Component Amount; 2017-07 pre-980 Ratemaking Treatment Service Cost; $100: 25% PP&E: 75% Op Exp 25% PP&E $25 75% Expense $75 Other Components ; $300 100% Non-op Exp, 25% PP&E $75 75% Expense $225 Total Periodic …

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ASU 2017-07: Improving the Presentation of Net Periodic

 · Fichier PDF

 · Only the service cost component can be capitalized—for example as a cost of inventory or self-constructed asset Other net periodic benefit cost components aren’t eligible for capitalization Effective Dates and Transition ASU 2017-07 is effective for: Public entities Annual periods beginning after December 15 2017, including interim periods within those periods, Nonpublic entities

FASB Flash Report

FASB Improves Consolidation Accounting

 · In short ASU 2017-07 requires companies to present the service cost component of net benefit cost in the income statement line items where they report compensation cost Gross profit and operating income may be affected for many companies as compensation cost is generally not presented as a “below the line” expense, Early adoption of this ASU is permitted, It must be placed into effect

FASB issues Accounting Standards Update 2017-07

asu 2017 07 example