Journal Entries As Tools For Financial Statement Disclosure Of Pension Reporting And Other Comprehensive Income
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Keywords
Financial Statement Disclosures, Other Comprehensive Income, Pension Reporting, FASB ASC No. 220, FASB ASC No. 715
Abstract
This instructional tool draws a linkage between the journal entries required to record the activity of a defined benefit pension plan and the disclosures required under authoritative guidance. The quarterly and year-end adjusting entries are presented and linked to the financial statements and supplemental financial disclosures. These entries directly tie to amounts reflected in those disclosures to provide a more comprehensive analysis of the reporting process. The resulting analysis is beneficial for the understanding of pension accounting and the reporting of accumulated other comprehensive income.
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Robert E. Jackson, Georgia Southern University, USA
Robert E. Jackson is a CPA and an Assistant Professor of Accounting at Georgia Southern University, Statesboro, Georgia USA. Prior to entering academia, he spent over twenty years in the practice of public accountancy in Florida. His research interests include corporate governance, corporate finance, and professional regulation. E-mail: rjackson@georgiasouthern.edu
L. Dwight Sneathen Jr., Georgia Southern University, USA
L. Dwight Sneathen Jr. is a CPA and an Associate Professor of Accounting at Georgia Southern University, Statesboro, Georgia USA. He has experience in public accounting and private industry prior to entering academia. His research interests include topics in capital markets and auditing. E-mail: dsneathen@georgiasouthern.edu (Corresponding author)