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Figure 26-2 Refer to the accompanying figure. What is the process occurring in the cells labeled as 3 in the sequence?
US GAAP
United States Generally Accepted Accounting Principles, which govern the preparation and reporting of financial statements in the U.S.
Prior Service Cost
Costs recognized when a pension plan is amended to increase benefits for employee service in prior periods, typically amortized over time.
Unrecognized Net Gain
A profit that has been realized but not yet recorded in the financial statements of a company.
Projected Benefit Obligation
The present value of estimated future pension benefits owed to employees, based on expected salary increases.
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