May 2014
Intermediate to advanced
785 pages
17h 13m
English
Aims and objectives of this chapter:
• Briefly introduce the concept of pension plans and their importance
• Explain two types of pension plans: defined contribution plans and defined benefit pension plans
• Discuss the influence of the Employee Retirement Income Security Act
• Discuss the accounting issues related to defined contribution plans and defined benefit pension plans
• Explain pension benefit obligations
• Explain pension plan assets and expenses
• Discuss the financial reporting of pension plans
• Address the accounting recordkeeping of pension plans
Pension plans pay a pivotal role in the economy because they are the principal device used by individuals—either through organizationally sponsored arrangements or ...