Are you prepared for FAS 158? - CUNA Mutual Group
Are you prepared for FAS 158? - CUNA Mutual Group
Are you prepared for FAS 158? - CUNA Mutual Group
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Journal Entries (Overfunded Plan)<br />
Debit Credit<br />
Transition to <strong>FAS</strong> <strong>158</strong><br />
Prepaid pension expense 4,000<br />
Net pension asset 1,000<br />
OCI 3,000<br />
• Prepaid pension expense was $4 million<br />
• Assets exceed PBO by $1 million<br />
• Unrecognized loss was $3 million<br />
Employee Benefit Products<br />
44