Deficit and EUR: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
m (Add headers.)
 
imported>Doug Williamson
(Classify page.)
 
Line 1: Line 1:
1. ''Funding.''
ISO currency code for the euro.
 
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.




== See also ==
== See also ==
* [[Amortisation]]
* [[euro]]
* [[Debt]]
* [[ISO currency codes]]
* [[Fiscal deficit]]
* [[FRS 102]]
* [[Funding level]]
* [[Multicurrency cross-border pooling]]
* [[Multicurrency one-country pooling]]
* [[Office for Budget Responsibility]]
* [[Provision]]
* [[Surplus]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]
[[Category:Identify_and_assess_risks]]
[[Category:Financial_products_and_markets]]

Latest revision as of 15:50, 8 December 2019

ISO currency code for the euro.


See also