Here is the synopsis of our sample research paper on Pensions and Accounting: A Look at FASB Statements 87 and 106. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 5 page paper provides an overview of these two statements. Pensions and other benefits after retirement are discussed.
Bibliography lists 3 sources.
Page Count:
5 pages (~225 words per page)
File: RT13_SA646FAS.rtf
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Unformatted sample text from the term paper:
are made either as actual dollars come in, or based on the combination of bills to be paid, and anticipated funds. Cash basis accounting is much easier, but sometimes, accounting
on an accrual basis can have tax benefits. This, and other decisions, are made and are par for the course when running a business. When making decisions, accountants will advise
a business owner which is the best method of accounting for their firm. Each business will have to weigh positive and negative aspects of each proposed method. Also, it should
be noted that when designing pension plans, accounting is certainly a subject of contemplation. How will the pension fit into the scheme of things? Will the firm be able to
design suitable projections so they can see how much they will owe their former employees in the future? Many questions loom, and to some extent, FASB Statements 87 and 106
help to clarify things. Statement number 87 provides changes which account for "single-employer defined benefit pension plans" ("FASB: Summary of Statement 87," 2006). It should be noted
that some of the provisions do also apply to businesses that have multiemployer sponsors or plans ("FASB: Summary of Statement 87," 2006). When measuring reporting liabilities of costs associated with
benefit pension plans, it seems that there has been some controversy ("FASB: Summary of Statement 87," 2006). Indeed, this statement does come on the heels of some controversy. The
following is noted in the FASB description: "Measuring cost and reporting liabilities resulting from defined benefit pension plans have been sources of accounting controversy for many years" ("FASB: Summary of
Statement 87," 2006). In 1966, for example, it was noted that improvements in pension accounting had been necessary and would be past what might be thought of as practical ("FASB:
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