a. Discuss the similarities and differences between a Finance Lease and an Operating Lease. How are each reported on/affect financial statements?

b. Discuss the similarities and differences between a Defined Contribution Plan and a Defined Pension Plan. How is a Defined Pension Plan reported on/affect financial statements? Discuss the concept of Actuarial Assumptions and provide/discuss at least three examples that are typically utilized to produce the Projected Benefit Obligation.

c. Discuss the concept of Deferred Taxes (assets and liabilities). How are these recorded/reported on the financial statements? Discuss how Income Taxes are typically disclosed within the financial statements (be specific in your answer)? As an analyst what information regarding the impact of income taxes can you glean from reporting on/disclosure of this item from the financial statements?