So difference between IFRS and US GAAp is that unrecognised g/l is recognised on the balance sheet instead of (hiding) in s/h equity and ammortising into the I/S. However my question is that the funded status (PBO-FV assets) already has the whole actuarial g/l and prior service cost in it(it’s in the PBO). Therefore why would you add it back under IFRS? Also how exactly does it work? You have the whole ammounts accounted for in PBO but then you just take the actuarial g/l and prior service cost and dump it in s/h equity until it reaches 10% of assets or PBO and then start ammortising it?? I just don’t get it!!! Any help much appreciated.
I’m in exactly the same boat and would love someone to walk us through the mechanics of this.
Common, ANYONE???
Bump.