Section 7200: Reporting by Employee Benefit Plans
International Accounting Standard 26
Accounting and Reporting by Retirement Benefit Plans
1. First version of IAS 26
"Accounting and Reporting by Retirement Benefit Plans" issued in January 1987
2. Revisions
Reformatted in 1994
[U.S. GAAP Codification Topic]
960 Plan accounting - defined benefit pension plans
962 Plan accounting - defined contribution pension plans
965 Plan accounting - health and welfare benefit plans
3. IAS 26 Applies to
Financial Statements of Retirement Benefit Plans
4. Retirement Benefit Plan is a reporting entity
--> separate from the employers of plan participants
5. Defined Contribution Plans
Financial statements include, IAS 26.13,16
(1) net assets available for benefits
(2) investment performance
(3) financial position of the plan
(4) description of funding policy, investment policies
(5) description of significant activities
(6) effect of changes in the plan
6. Defined Benefit Plans
Choice of Presentation 1 or Presentation 2, IAS 26.17
Presentation 1 provides a statement that includes
(1) net assets available for benefits
(2) actuarial present value of promised benefits,
--> separately for vested and non-vested benefits
(3) excess or deficit
Presentation 2 provides a statement of net assets available for benefits
that includes (4) or (5)
(4) a note disclosing actuarial present value of promised benefits,
--> separately for vested and non-vested benefits
(5) a reference to actuarial present value in accompanying actuarial report
7. Defined Benefit Plans
Financial statements include, IAS 26.22
(1) actuarial information
(2) investment performance
(3) financial position of the plan
(4) description of investment policies
(5) description of significant activities
(6) effect of changes in the plan
8. All Plans
Measurement of Plan Assets IAS 26.32
Retirement benefit plan assets are
--> carried at fair value
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Index of IFRS Financial Reporting Textbook
