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RIBBY

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › RIBBY

  • This topic has 1 reply, 2 voices, and was last updated 13 years ago by MikeLittle.
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  • Author
    Posts
  • August 23, 2011 at 12:25 pm #49496
    jaisonacca
    Member
    • Topics: 10
    • Replies: 16
    • ☆

    Dear Tutor

    I am very much in a fix with question RIBBY (2011 BPP Revision Kit Q: No: 43).Adjustment (g) ‘Past Service Cost’ is the matter worrying me.

    The entry in kit is

    01-June-2007[/b]

    Dr P/L (Retained Earnings) $3m
    Dr Unrecognized past service cost $1m
    Cr Present Value of Obligation (Non Current Liability) $4m

    On 31-May-2008

    Dr:P/L (Retained Earnings) $.5m
    Cr: Unrecognized past service cost (Non Current Liability) $.5m

    My doubt is $3 must immediately be charged to P/L. That I understood. But the treatment for the remaining $1m is causing me tension a lot.

    Thanks in advance for your help tutor.

    Regards
    Jaison

    October 27, 2011 at 4:23 pm #87163
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23321
    • ☆☆☆☆☆

    Is it not indicated in the question that the past service costs related to the current employees are to be written off over two years?

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