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CA20-5 Rules Pensions) Jill Vogel and Pete Dell have to do a class presentation on for pension information. In developing the class presentation, they decided to provide the class with aseries of questions reporting the class read the rules related related to pensions and then discuss the in class. Given that Here are the questions accounting and reporting, they felt this approach would provide a lively discussion. 1. In an article in Businessweek new rules related to pensions, it was reported that the discount rates used by the largest 200 companies for pension reporting ranged from 5% to 11%. How can such a exist, and does GAAP alleviate this 2. An article indicated that when new GAAP rules were issued related to pensions, it caused an increase in the liability for pensions for approximately 20% of companies. Why might this situation occur? 3. A recent article noted that while "smoothing" is not necessarily an accounting virtue, pension accounting has long been recognized as an exception-an area of accounting in which at least some dampening of market swings is appropriate. This is because pension funds are managed so that their performance is insulated from the extremes of short-term market wings. A pension expense that reflects the volatility of market swings might for that convey information of little A. relevance. Are these statements true? its pension Understanding the impact of the changes required in pension reporting requires detailed information about plan(s) and an analysis the relationship of factors, particularly the (a) Type of plan (s) and any significant amendments. (b) Plan participants (c) Funding status. (d) Actuarial funding method and assumptions currently used What impact does each of these items have on financial statement presentation? 5. An article noted "You also need to decide whether to amortize gains and losses using the corridor method, or to use some other systematic method. Under the corridor only gains and losses in excess of 10% the greater of the projected benefit obligation or the plan assets would have to be amortized What is the corridor method and what is its purpose