The big debate on pension disclosures

Multiple-choice questions: In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again

  1. Which is NOT a main concern of the IASB about disclosures in financial statements?

  2. Which of these is the IASB testing the new disclosure ideas out on?

  3. Which of the following advisory forums were consulted regarding the proposed disclosure changes?

  4. Which, if any, of the statements regarding defined benefit pension schemes is/are true? Statement 1 - If the pension obligation outweighs the plan assets, an entity must show a net liability, or Statement 2- If the pension plan is in surplus, an entity must show a pension asset in its statement of financial position

  5. Which of the following is the proposed main focus of disclosure changes?

  6. What is the major feedback regarding the cash flow effects on pension plans?

  7. Which of the following is NOT a type of pension plan valuation method?

  8. Which, if any, of the following statements is correct? Statement 1 - Users expressed concerns that sensitivity analysis is currently too detailed, or Statement 2 - The forums commented that a much greater level of sensitivity analysis is required

  9. Which of the following is another proposal which users would like to see?

  10. Which, if any, of the following statements is/are true? Statement 1 - The IASB is hoping the discussions will lead to the issue of an exposure draft, or Statement 2 - The IASB is only looking at the disclosures around IAS 19, not the accounting treatment itself