財務筆記: Pension accounting menagement -1 (part 6)－經濟,財務,統計學,數理科學與政治評論

Hello there:

再來是談企業退休金的會計處理!!這個部分主要有三個重點....

首先,Ddefined Benefit與Defined Contribution的不同,DB主要在強調企業主必須支出與承擔員工的退休金準備,而DC則強調企業主替員工設定一個帳戶,員工的退休金準備由這個自己的帳戶來承擔,基本上DC比較像是保險的投資型保單,投入資金的報酬率由投資連結的標的來決定,而DB的投資保酬率則在一開始企業主的承諾中間就被決定了!!進一步來看,DB對企業的負擔當然相對較大,因為前面預設的參數值相當程度上面會產生真實與預計數字上面的差額,在Income Statement中我們的pension expense採用的是預計資產的報酬率(expected return on plan assets),而非實際資產的報酬率(actual return on plan assets),因此多出一個Economic pension expense的概念,也因此成形出現我們有興趣的三個主要概念!!最後,在此之後,我們的焦點都放在DB上面!!

(1)Pension Benefit Obligation(PBO)

I. PBO (previous year)

+ current service cost (this year)

+ interest cost (this year)

+ foreign exchange impact

+ plan amendments(this year)

+ Actuarial losses(this year)

- Actuarial gains(this year)

- Benefit paid(this year)

= PBO (this year)

讓我們來看一個例子,企業薪水每年增長4%,企業一開始一年支付5,000年薪,

預計員工工作25年後退休,預訂折現率為8%,

然後其預計再多活15年且每年領的為最終薪水的2%,

我們先求算第一年的PBO.

PBO (Yr=1)

= PV(FV(PMT= 5,000*(1.04的25次方)*2%, N=15, I/Y =8%),N=24,I/Y = 8%)

= PV(FV=2194.06,N=24, I/Y=8%)

= 346.001

值得注意的是後面N=24,主因在於第一年到第25年中間經過24年,我們算的是第一年年底的PBO!!

因此再過來就必須強調Current Service cost與Interest cost的計算....

Current Service cost of Year 2

= PV(FV(PMT= 5,000*(1.04的25次方)*2%, N=15, I/Y =8%),N=23,I/Y = 8%)

= PV(FV=2194.06,N=23,I/Y=8%)

= 373.68

Current Service cost of Year 2

= 從第二年開始計算,新增的未來十五年支付費用的現值

Interest cost of Year 2

= 第一年的PBO所產生的利息費用

= 346* 8%

= 27.68

因此 PBO (Yr=2)

= PBO (Yr=1)

+ Current Service Cost (Yr = 2)

+ Interest cost(Yr = 2)

= 346 + 373.68 + 27.68

= 743.36 (這裡只考量到service costs與interest costs)

值得注意的是從2006年以後,美國的GAAP已經將Defined Benefit中

Funded Status of pension plan

= Present Value of Pension Plan Assets - PBO

記錄在Balance Sheet當中使其兩者相等,以方便我們了解企業的退休金準備是否充足!!在IFRS中,則需要下列的關係式:

Funded Status of pension plan (= FVPA - PBO)

+ unrecognized deferred losses

- unrecognized deferred gains

+ unrecognized transition liability

- unrecognized traisition asset

= Net pension asset/liability (recorded on the B/S)

其中unrecognized transition asset/liability包含 unrecognized prior service cost,而urecognized deferred gains/losses包含unrecognized acturial gains/losses,都是因為acturial assumptions的改變所造成!! unrecognized(unamortized) item在U.S. GAAP中都被歸類為Accumulated other comprehensive income,屬於Shareholder's equity的科目!!至於past service cost在U.S. GAAP中則被歸類為other comprehensive income,也是equity 的科目!!在IFRS中這些若能公允估算,都會直接認列在income statement中,爾後在fair value改變時再做調整!!相對上比U.S. GAAP來的複雜,但相對上卻更能反應企業可能的報表美化或所謂的事實呈現!!

在U.S. GAAP中,funded status = FVPA - PBO;但在IFRS則需要調節 funded status因acturial assumptions的改變所造成的asset/liability changes,與尚未記錄在I/S中的unrecognized gains/losses!!

(2)在Income statement中記載的Pension Expense

II. Service costs (this year)

+ Interest costs (this year)

- Expected Return on Plan Assets (not actual one)

+ Amortization of acturial losses

- Amortization of acturial gains

+ Amortization of prior service costs

+ Amortization of traisition liability

- Amortization of transition assets

= Pension expense on the I/S

Amortization的目標主要因為Pension assumptions被改變了,因此為了擔心影響太大,採用Smoothing的方式來處理!而其所產生的損益都記錄在Accumulated Other Comprehensive Income(AOCI,為Shareholder's equity科目的一項)之中!!

III. Beginning fair value of plan assets

+ Actual return on plan assets

+ Employer contributions

- Benefit paid

= Ending fair value of plan assets

(3) the relation between funded status, employer contribution and economic pension expense

IV.由I,II與III,我們知道下列重要關係式

Ending funded status

- Beginning funded status

= Changes in funded status

and

- Changes in funded status

+ Employer contribution

= Economic pension expense

= Employer contribution - Diff(Funded Status of plan assets)

i.e.

Economic pension expense

= Diff(PBO) - Diff(FVPA) + Employment contribution

= - (Ending funded status - Beginning funded status)

+ Employer contribution

= - (Ending FVPA - Beginning FVPA)

+ (Ending PBO - Beginning PBO)

+ Employer contribution

= - Actual return on plan assets

+ current service costs

+ current interest costs

+ plan amendments

所以

Economic pension enxpense

= current service costs

+ current interest costs

+ plan amendments

- actual return on plan assets

很清楚的我們知道Economic pension expense相對於Pension expense,前者採用Actual return on plan assets,而後者採用的是Expected return on plan assets!!相對上前者的短期波動比後者大,但長期來說,兩者差異會縮小!!