Deficit: Difference between revisions
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1. ''Funding.'' | |||
The excess of liabilities over assets in a funded Defined benefit pension scheme; also known as under-funding. | Any financial shortfall, whether cumulative or for a single period. | ||
2. ''Public finances.'' | |||
A government fiscal deficit, usually for a particular period, most often a year. | |||
3. ''Pensions - defined benefit schemes.'' | |||
The accumulated excess of liabilities over assets in a funded Defined benefit pension scheme; also known as under-funding. | |||
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Relevant accounting standards include Section 28 of FRS 102. | Relevant accounting standards include Section 28 of FRS 102. | ||
== See also == | == See also == | ||
* [[Amortisation]] | * [[Amortisation]] | ||
* [[Attention deficit disorder]] | |||
* [[Current account deficit]] | |||
* [[Debt]] | |||
* [[Fiscal deficit]] | * [[Fiscal deficit]] | ||
* [[FRS 102]] | * [[FRS 102]] | ||
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* [[Multicurrency cross-border pooling]] | * [[Multicurrency cross-border pooling]] | ||
* [[Multicurrency one-country pooling]] | * [[Multicurrency one-country pooling]] | ||
* [[Non-trading deficit]] | |||
* [[Office for Budget Responsibility]] | |||
* [[Provision]] | |||
* [[Surplus]] | * [[Surplus]] | ||
* [[Trade deficit]] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Identify_and_assess_risks]] | |||
Latest revision as of 11:39, 3 May 2022
1. Funding.
Any financial shortfall, whether cumulative or for a single period.
2. Public finances.
A government fiscal deficit, usually for a particular period, most often a year.
3. Pensions - defined benefit schemes.
The accumulated excess of liabilities over assets in a funded Defined benefit pension scheme; also known as under-funding.
Example
Pension liabilities = 100.
Pension assets = 90.
The deficit would be:
100 - 90
= 10.
(Not to be confused with the percentage funding level which in this example would be 90 / 100 = 90%.)
Relevant accounting standards include Section 28 of FRS 102.
