Pension Plans

|Manufacturing Company A | |Memo To:CEO From:Jon Rhoads, Controller meet:October 26, 2009 Re:Company Acquisition after(prenominal) the acquisition of Company B, the lodge result have ii additional different gift aims and deuce additional segments to base on. This will substanti in participator increase the complexity of the company’s fiscal account. The reporting of a defined contribution pension off design, the reporting of a defined benefit pension externalize and other postretirement pension externalises were reviewed and presented here. The steps necessary to eliminate the two segments of Company B have also been presented. Defined contribution pension computer programmes provides various(prenominal) accounts for distributively purpose participant and specifies how contributions to the individual’s account argon to be determined sort of t han specifies the amount of benefits the individual is to receive. The benefits a plan participant will receive depend solely on the amount contributed to the plan participant’s account, the returns bring in on investments of those contributions, and the forfeitures of other plan participants’ benefits that may be allocated to that plan participants account (FASB Codification 715-70-20). The first objective of a defined contributions plan’s financial statements is to provide information that is recyclable in assessing the plan’s present and future powerfulness to pay benefits (AICPA, 2009). The financial statements of a defined contribution plan prepared in compliance with generally accepted history principles (GAAP) shall be prepared on the accrual basis of account and include both of the future(a) (FASB Codification 962-205-45-1): A statement of lowest assets available for benefits of the plan as of the end o f the plan social class should present amou! nts for all of the following (FASB codification 962-205-45-2) 1. resume assets 2. Total liabilities...If you want to strike a full essay, order it on our website: OrderCustomPaper.com

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