Are you prepared for FAS 158? - CUNA Mutual Group

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CU Balance Sheet After FAS 158 Assets Liabilities Cash 300 Liabilities 155 Loans 650 Deposits 750 Other 48 50 X Reserves 60 Undivided Earnings 156 X 40 OCI (5) (8) X Employee Benefit Products 42
Net Worth After FAS 158 • Net Worth is unaffected Reserves plus Undivided Earnings (60 + 40 = 100 million) • Net Worth Ratio is Net Worth divided by Total Assets (100M / 998M = 10.02%) Employee Benefit Products 43
Page 1 and 2: Are you prepared for FAS 158? Prese
Page 3 and 4: I am not an accountant!* * The info
Page 5 and 6: Logistics of Transition Prepaid Pen
Page 7 and 8: Logistics of Transition Last Valuat
Page 9 and 10: New FAS 158 Exhibit C Transition Jo
Page 11 and 12: Logistics of Transition • Liabili
Page 13 and 14: Accounting Evolution FAS 87/88 Basi
Page 15 and 16: Accounting Evolution FAS 87/88 FAS
Page 17 and 18: Accounting Evolution FAS 87/88 FAS
Page 19 and 20: Balance Sheet Assets Liabilities Li
Page 21 and 22: Member’s Equity • Reserves •
Page 23 and 24: Net Worth • Net Worth is Reserves
Page 25 and 26: New FAS 158 Exhibit A Funded Status
Page 27 and 28: Change in Funded Status • Expecte
Page 29 and 30: Change in Funded Status Liability E
Page 31 and 32: New FAS 158 Exhibit D Employee Bene
Page 33 and 34: Pension Expense + Service Cost + In
Page 35 and 36: Transition to FAS 158 • No change
Page 37 and 38: Journal Entries Debit Credit Transi
Page 39: CU Balance Sheet Before FAS 158 Ass
Page 43 and 44: CU Balance Sheet After FAS 158 Asse
Page 45 and 46: Moody’s Aa Liability 4,700,000 5,
Page 47 and 48: Journal Entries Debit Contributions
Page 49 and 50: Measurement Date = FYE • Effectiv
Page 51 and 52: Questions? If you have questions af

Are you prepared for FAS 158? - CUNA Mutual Group

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