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Hi – I am going through the latest BPP workbook for SBR and reading the following (page 96): “Interest applied to b/d obligation and assets (and netted in Profit or Loss)”.
Please can you clarify what b/d refers to above. This is a chapter on IAS 19 (Employee Benefits).
When accounting for a defined benefit pension – Net Interest Cost = interest rate given in question multiplied on opening DB pension asset and liability.
B/d = brought down = opening.
Not sure I can add any more value. If in doubt please watch our recorded lecture on pensions.