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The accounting for defined benefit obligation plans is complicated. While most retirement plans are now defined contribution plans (accounting is basically the recording of pension
- The accounting for defined benefit obligation plans is complicated. While most retirement plans are now defined contribution plans (accounting is basically the recording of pension expense as the amount funded in employee accounts) the accounting for defined benefit plans is still very important since so many of such exist (even though these some companies have gone to defined contribution plans for newer employees) and are quite large.
Describe the components of pension expense for defined benefit plans in your own words.
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