Table: Selected information of Ouyang Inc. If Ouyang Inc. had reported under IFR

Question

Table: Selected information of Ouyang Inc.

If Ouyang Inc. had reported under IFRS, its 2013 balance sheet will report a:

Financial Information 2013 2012 Net income 19,282 17,263 Net periodic benefit cost 920 728 Pension information Benefit obligation Service cost 495 382 Ending balance 7,918 6,771 Plan assets Company contribution 293 277 Expected return on plan assets 2,738 2,482 Actuarial gain 182 273 Ending balance 8,231 7,827 Funded status 313 1,056 Unrecognized past service cost 109 89 Unrecognized actuarial loss (gain) 382 311 Net asset (liability) in the balance sheet 804 1,456

Explanation / Answer

Referring to the last line of the question, the final calculations indicates an asset of USD 804 mn. Therefore, the IFRS balance sheet will report an asset of USD 804 mn. For any further clarifications, pease comment

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