Question
Answer the following questions in the Discussion Board: Define a private pension plan. How does a contributory pension plan differ from a noncontributory plan? Differentiate
Answer the following questions in the Discussion Board:
Define a private pension plan. How does a contributory pension plan differ from a noncontributory plan?
Differentiate between accounting for the employer and accounting for the pension fund.
Explain the terms funded and pension liability as they relate to:
The pension fund.
The employer.
Discuss the theoretical justification for accrual recognition of pension costs.
Discuss the relative objectivity of the measurement process of accrual versus cash (pay-as-you-go) accounting for annual pension costs.
Distinguish among the following as they relate to pension plans.
Service cost.
Prior service costs.
Vested benefits.
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