Pension retirement plans

Pension seclusion plans

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Chapter 20
Accounting in Action: CM2
CM2 has not attributable attributable attributable offered seclusion benefits to its employees save is looking restraint
knowledge on pension seclusion plans. Naturally, when you likeness up restraint toil,
Conner and Martin allude-to that you gather knowledge and stuff them in on
possible beneflt plans and their accounting consequences.
lnstructions
(a) V Research the conclusive titerature (using the FASB
Codification) restraint knowledge environing two types of seclusion pension plans
that influence be adopted–{efined-contribution plans and defi ned-benefit
plans, Write a memo interpreting these plans and describing their costs and
benefits.
(b) V After you introduce the memo and interpret the concept of pension
seclusion plans, Conner and Martin tingle in and assert they bear discover in
the information that sundry compantes are “singing the blues” owing they bear
severely underfunded pension plans and countenance enormous insufficientfalls in covering
their looming pension obligations.
However, they are also entirely promiscuous owing years since, these
same companies were on extreme of the cosmos-people when their pension plans were
overfunded. How, they sign, can this fall in a proportionately insufficient period
of duration? Interpret to Conner and Martin how this can fall restraint definedbenefit
pension plans. In your discusston, harangue the following:
Continuing Case 6
(1) Five components of pension expenditure.
(2) The concept of “smoothing” in conditions of gainsflosses (delayed
recognition).
Continuing Case 7

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