Here is the synopsis of our sample research paper on Postretirement Benefits and Reporting. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
A 3 page paper discussing defined contributions, defined benefits and other postretirement benefits. Standards outlined by the FASB included. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: CJ6_KSacctRetPlan.rtf
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Unformatted sample text from the term paper:
In review of our newly acquired company, the subject of eliminating two segments of pension plans necessitated
further research and discussion. This memo is to inform of the accepted methods that companies account for and report types of postretirement benefits; specific rules are instructed by the
Financial Accounting Standards Board (FASB) to adhere to Generally Accepted Accounting Principles (GAAP) for proper disclosure. Defined contributions, like 401(k) plans,
are usually handled by third parties, and the risk of the investment is held by the employee. The amount of these plans are not a set size, because several
factors determine the amount that the employee collects; income contributed, amount initially put in the trust, and early termination of other employees in regards to forfeitures of funds and their
treatments. FASB Statement No. 158 amends details of accounting for pension plans previously set in FASB Statement No. 87. A defined-contribution plan is required to have a plan
description that includes groups of employees that are covered, the constituents for determining contributions, and elements that affect comparability from one period to another. Annual costs for these types
of benefits are established by a formula which is defined in the plan, therefore costs are simple to determine with the help from reliable information from actuaries. These costs
have to be reported based on the amounts that the company is obligated to contribute. An employer is required to report a liability only if a contribution is not
made in full; conversely, an overpayment of benefits results in the necessity of an asset reported on the balance sheet. Defined-benefit plans are
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