For defined benefit plans, IFRS recognizes a pension asset or liability as the funded status of the plan.

Name: For defined benefit plans, IFRS recognizes a pension asset or liability as the funded status of the plan.
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IFRS recognizes a pension asset or liability based on the difference between the fair value of plan assets and the present value of the defined benefit obligation, which is referred to as the funded status of the plan.

For Defined Benefit Plans, IFRS Recognizes a Pension Asset or Liability