Ch 10- Pensions and Other Fiduciary Activities Why pension accounting is so important The distinctions between defined contribution and defined benefit pension plans The relationship between an employer and its pension trust fund How the employer measures its pension obligation to retirees and employees How the pension expense in a full accrual financial statement is determined How the pension expenditure is determined in the governmental funds financial statements How to account for multiple-employer cost-sharing pension plans How to account for the pension plan What disclosures about pensions are required in the financial statements How post-employment benefits other than pensions (OPEB) are accounted for What are fiduciary funds How to report investment income from a permanent fund