英文会计习题辅导案例 养老金&股份支付

Macaljoy（养老金）Macaljoy,apubliclimitedcompany,isaleadingsupportservicescompanywhichfocusesonthebuildingindustry.ThecompanywouldlikeadviceonhowtotreatcertainitemsunderIAS19EmployeebenefitsandIAS37Provisions,contingentliabilitiesandcontingentassets.ThecompanyoperatestheMacaljoyPensionPlanBwhichcommencedon1November20X6andtheMacaljoyPensionPlanA,whichwasclosedtonewentrantsfrom31October20X6,butwhichwasopentofutureserviceaccrualfortheemployeesalreadyinthescheme.Theassetsoftheschemesareheldseparatelyfromthoseofthecompanyinfundsunderthecontroloftrustees.Thefollowinginformationrelatestothetwoschemes.

MacaljoyPensionPlanA

Thetermsoftheplanareasfollows.

(i)Employeescontribute6%oftheirsalariestotheplan.(ii)Macaljoycontributes,currently,thesameamounttotheplanforthebenefitoftheemployees.

(iii)Onretirement,employeesareguaranteedapensionwhichisbaseduponthenumberofyearsservicewiththecompanyandtheirfinalsalary.

Thefollowingdetailsrelatetotheplanintheyearto31October20X7:

$m

Presentvalueofobligationat1November20X6

Presentvalueofobligationat31October20X7

Fairvalueofplanassetsat1November20X6

Fairvalueofplanassetsat31October20X7

Currentservicecost

Pensionbenefitspaid2002401902252019Totalcontributionspaidtotheschemeforyearto31October20X7

17

RemeasurementgainsandlossesarerecognisedinaccordancewithIAS19asrevisedin2011.

MacaljoyPensionPlanB

Underthetermsoftheplan,Macaljoydoesnotguaranteeanyreturnonthecontributionspaidintothefund.Thecompany’slegalandconstructiveobligationislimitedtotheamountthatis

contributedtothefund.Thefollowingdetailsrelatetothisscheme:

$m

Fairvalueofplanassetsat31October20X7

Contributionspaidbycompanyforyearto31October20X72110Contributionspaidbyemployeesforyearto31October20X710Theinterestrateonhighqualitycorporatebondsforthetwoplansare:

1November20X6

5%31October20X76%

Thecompanywouldlikeadviceonhowtotreatthetwopensionplans,fortheyearended31October20X7,togetherwithanexplanationofthedifferencesbetweenadefinedcontributionplanandadefinedbenefitplan.

Warranties

Additionallythecompanymanufacturesandsellsbuilding

equipmentonwhichitgivesastandardoneyearwarrantytoallcustomers.Thecompanyhasextendedthewarrantytotwoyearsforcertainmajorcustomersandhasinsuredagainstthecostofthesecondyearofthewarranty.Thewarrantyhasbeenextendedatnilcosttothecustomer.TheclaimsmadeundertheextendedwarrantyaremadeinthefirstinstanceagainstMacaljoyandthen

Macaljoyinturnmakesacounterclaimagainsttheinsurancecompany.Pastexperiencehasshownthat80%ofthebuildingequipmentwillnotbesubjecttowarrantyclaimsinthefirstyear,15%willhaveminordefectsand5%willrequiremajorrepair.Macaljoyestimatesthatinthesecondyearofthewarranty,20%oftheitemssoldwillhaveminordefectsand10%willrequiremajorrepair.

Intheyearto31October20X7,thefollowinginformationisrelevant.

Standardwarranty

(units)

Sales2,000Extendedwarranty(units)5,000Sellingpriceperunit(both)($)1,000

Majorrepair

$

Costofrepair(average)500Minordefect$100

Assumethatsalesofequipmentareon31October20X7andanywarrantyclaimsaremadeon31Octoberintheyearoftheclaim.Assumeariskadjusteddiscountrateof4%.

Required

DraftareportsuitableforpresentationtothedirectorsofMacaljoywhich:

(a)(i)Discussesthenatureofanddifferencesbetweenadefinedcontributionplanandadefinedbenefitplanwithspecificreferencetothecompany’stwoschemes.(7marks)

(ii)ShowstheaccountingtreatmentforthetwoMacaljoypensionplansfortheyearended31October20X7underIAS19Employeebenefits(revised2011).(7marks)

(b)(i)Discussestheprinciplesinvolvedinaccountingforclaimsmadeundertheabovewarrantyprovision.(6marks)

(ii)ShowstheaccountingtreatmentfortheabovewarrantyprovisionunderIAS37Provisions,contingentliabilitiesandcontingentassetsfortheyearended31October20X7.(3marks)Appropriatenessoftheformatandpresentationofthereportandcommunicationofadvice.(2marks)

(Total=25marks)

To:TheDirectors

Macaljoy

Date:1November20X7