this + the interest on the debt accrued for the bailout. TARP was not done with cash on hand - it was a loan from a loan. Lulz...stupid world...
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Shrug. If you're an accountant, you tell me. I'm taking other people's word for it, currently. Refresher course:
http://www.ifrsaccounting.com/ifrs-pensions.html
Sounds like they'd need to recognize at least the minimum liability, as it's obviously unfunded :PQuote:
Recognition of a minimum liability on the statement of financial position to at least the unfunded accu-mulated pension benefit obligation
I'm skimming through Wiley GAAP 2010: Interpretation and Application of Generally Accepted, Chapter 18 on google books (page 953)...
it is a complicated subject, but from what I've read, it's complicated precisely because there is supposed to be a smoothing of the obligation... if the losses were recognized only when they occurred, that chapter would be about 3 sentences long ;)
Too bad they did not invest that $1 trillion in Bitcoins back in 2009. It was worth less than a penny per Bitcoin back then. Today it is worth over $13 per Bitcoin. That would have been quite the return.