ABC Inc. follows IFRS for financial reporting purposes and has established a defined benefit pension plan for its employees. Pertinent details of the plan for the year ended December 31, 2025 are as follows: current service costs, accrued end of year $52,000 past service costs, accrued beginning of year $20,000 benefit payents to retirees, paid evenly throughout the year $85,000 discount rate used by actuary 5% actuarial losses in the year $10,000 pension obligation as at January 1, 2025 $750,000 pension assets as at January 1, 2025 $725,000   What is the balance of the pension obligation at December 31, 2025? Detail explanation, please

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Employee Benefits

In an organization employees are the most important resource and most important asset. They can lead an organization to the sky or can be the reason for unsuccessful of business. Therefore, it is very much important that employees of an organization should be satisfied by the environment of the organization and most importantly with the salary, wages incentives, etc.