“Similar to IFRS, under US GAAP current service cost is recognised in P&L. However, under US GAAP, past service costs are reported in OCI in the period in which the change giving rise to the cost occurs. In subsequent periods , these past service costs are amortised to P&L over the average service lives of the affected employees.”
Institute, CFA. 2017 CFA Level II Volume 2 Financial Reporting and Analysis. CFA Institute, 07/2016. VitalBook file.
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