Practical Pension Scheme Accounting MOBI, TXT, FB2
9781780436753 English 1780436750 Pension Scheme Accounting and Audit provides guidance on the preparation of pension scheme financial statements and the audit of those statements. Pensions Scheme accounts are prepared in line with guidelines issues within the Pensions Scheme Statement of Recommended Practice (SORP) which is drawn up by the Pensions Research Accountants Group (PRAG).The guidelines within SORPs are not mandatory but they are recommended practice and organisations deviating from these guidelines may be required to explain why. The last SORP was issued in 2007 and is currently being revised in line with the changes brought about by the introduction of FRS 102 which has a mandatory adoption date of January 1 2015.Pension Scheme Accounting and Audit provides guidance on application of the revised SORP in the preparation of financial statements and will also be invaluable to auditors of those accounts, highlighting the key areas of change and including worked examples and sample extracts from accounts to help illustrate the points made.In particular the book will help those dealing with pension scheme accounts to understand and deal with the following: Classification of investments; Fair value determination; New investment risk disclosures; Additional disclosures on actuarial liabilities.Covers the following legislation and regulation:Pensions SORP; FRS 102; APB Practice Note 15; Pensions Act.Contents:Background to pension scheme accounts:History; Parties involved; Types of scheme;Pension Scheme accounts:The Fund account; Contributions; Transfers in; Other income; Benefits; Payments in respect of leavers; Other payments; Administration expenses; Taxation; Investments; Investment income; Investments; Current assets; Current liabilities;Other information accompanying the financial statements:Trustee' Report; Investment Report; Summary of Contributions; Audit Reports; Compliance Statement; Report on actuarial liabilities; Actuarial certification; Other matters., Practical Pension Scheme Accounting from Crowe Clark Whitehill provides practical guidance on the preparation of accounts for occupational trust based pension schemes under the 2015 Statement of Recommended Practice (SORP). Starting from the trial balance, the book explains what information is needed to prepare a set of accounts, where this information is typically obtained and how to go about compiling the report and accounts. Written in a user friendly way, this book provides practical guidance on the new requirements introduced by the SORP, providing examples and options on the approach to the new requirements; ranging from the minimum disclosures, to additional disclosures that could be considered in relation to the investment risk and investment hierarchy disclosures. The book also contains a disclosure checklist to ensure all the required disclosures have been considered, along with an example set of accounts for those wishing to adopt the minimum requirements. The guidance will be invaluable to anyone involved in the preparation of pension scheme accounts including pension managers, accountants and trustees. The guidance highlights the key areas of change including worked examples and sample extracts from accounts to help illustrate the points made. This book will be essential reading for: In house finance teams of pension schemes, Accountants at third party pension administrators, Accountants advising on the preparation of pension scheme accounts, Auditors of pension scheme accounts. Book jacket.
9781780436753 English 1780436750 Pension Scheme Accounting and Audit provides guidance on the preparation of pension scheme financial statements and the audit of those statements. Pensions Scheme accounts are prepared in line with guidelines issues within the Pensions Scheme Statement of Recommended Practice (SORP) which is drawn up by the Pensions Research Accountants Group (PRAG).The guidelines within SORPs are not mandatory but they are recommended practice and organisations deviating from these guidelines may be required to explain why. The last SORP was issued in 2007 and is currently being revised in line with the changes brought about by the introduction of FRS 102 which has a mandatory adoption date of January 1 2015.Pension Scheme Accounting and Audit provides guidance on application of the revised SORP in the preparation of financial statements and will also be invaluable to auditors of those accounts, highlighting the key areas of change and including worked examples and sample extracts from accounts to help illustrate the points made.In particular the book will help those dealing with pension scheme accounts to understand and deal with the following: Classification of investments; Fair value determination; New investment risk disclosures; Additional disclosures on actuarial liabilities.Covers the following legislation and regulation:Pensions SORP; FRS 102; APB Practice Note 15; Pensions Act.Contents:Background to pension scheme accounts:History; Parties involved; Types of scheme;Pension Scheme accounts:The Fund account; Contributions; Transfers in; Other income; Benefits; Payments in respect of leavers; Other payments; Administration expenses; Taxation; Investments; Investment income; Investments; Current assets; Current liabilities;Other information accompanying the financial statements:Trustee' Report; Investment Report; Summary of Contributions; Audit Reports; Compliance Statement; Report on actuarial liabilities; Actuarial certification; Other matters., Practical Pension Scheme Accounting from Crowe Clark Whitehill provides practical guidance on the preparation of accounts for occupational trust based pension schemes under the 2015 Statement of Recommended Practice (SORP). Starting from the trial balance, the book explains what information is needed to prepare a set of accounts, where this information is typically obtained and how to go about compiling the report and accounts. Written in a user friendly way, this book provides practical guidance on the new requirements introduced by the SORP, providing examples and options on the approach to the new requirements; ranging from the minimum disclosures, to additional disclosures that could be considered in relation to the investment risk and investment hierarchy disclosures. The book also contains a disclosure checklist to ensure all the required disclosures have been considered, along with an example set of accounts for those wishing to adopt the minimum requirements. The guidance will be invaluable to anyone involved in the preparation of pension scheme accounts including pension managers, accountants and trustees. The guidance highlights the key areas of change including worked examples and sample extracts from accounts to help illustrate the points made. This book will be essential reading for: In house finance teams of pension schemes, Accountants at third party pension administrators, Accountants advising on the preparation of pension scheme accounts, Auditors of pension scheme accounts. Book jacket.