Pension Reporting and Segment Elimination Requirements Deborah Hunter, Stephanie Murray, James Newsome, Sharon Stubbs, and Star Troutman ACC 541 January 14, 2013 Shauki Smith MEMORANDUM TO: CEO FROM: Team A DATE: January 14, 2013 SUBJECT: Pension Reporting and Segment Elimination Requirements CC: Shauki Smith This memo serves to provide an explanation of required reporting for define contribution, defined benefit, and other postretirement plans. In addition to pension
Words: 965 - Pages: 4
3-2 Week 2 Lecture: Analyzing Financing Activities Financial Statement Analysis Overheads from K.R. Subramanyam textbook resources as amended by F.Hui for FIN324 2016. CHAPTER Liabilities (including employee benefits), Equity And off balance sheet transactions Copyright © 2014 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 3-3 Overview of Chapter Companies operations are financed
Words: 5351 - Pages: 22
Reporting for Pensions and Other Postretirement Plans Several issues have to be considered in the wake of the firm’s recent acquisition of a new company. First, the acquired company has two different pension plans whose reporting requirements are unfamiliar to the firm. Second, the acquired company has two segments that do not fit the firm’s requirements, and should be targeted for closure. This memo describes the reporting requirements of pension plans, namely, defined contribution plans, defined benefit
Words: 1001 - Pages: 5
Manning & Napier Advisors, LLC Defined Benefit Pension Plan Investing: Time for a Solution that Works June 2011 Approved CAG-CIT PUB015-R (10/11) Introduction The beginning of the 21st century has been perhaps the most trying environment ever for defined benefit pension plan sponsors. This is perhaps best evidenced by the decline in the number of single-employer defined benefit plans covered by the Pension Benefit Guaranty Corporation (“PBGC”), which has gone from 53,589 in 1995 to
Words: 3856 - Pages: 16
Accounting 322 Exam 2 Essays 16 Pre-Tax Accounting Income: Taxable Income: Deferred Tax Liability: This occurs when the pretax accounting income is more than taxable income. This comes from revenues being reported on the income statement before the tax return or an expense that is recognized on the tax return before the income statement. This creates a liability for the income tax deferred that will be paid in the future when the related assets are recovered or liabilities settled. The temporary
Words: 2597 - Pages: 11
------------------------------------------------- Subject: Pension Plans and Eliminating Segments This memo is to provide a response to the new CEO who is requesting information regarding the following areas. The first discussion is and explanation of the required reporting on retirement plans that includes defined contribution, defined benefit, and other postretirement plans. The memo will also include what may happen when two segments are to be eliminated. Defined Contribution Plan A defined contribution plan is when an employer
Words: 1407 - Pages: 6
Retirement Plans. (Pension Research Council Working Paper). Retrieved from http://www.archetype-advisors.com/Images/Archetype/Participation/how%20much%20is%20too%20much.pdf. Gering, J., & Conner, J. (2002). A Strategic Approach to Employee Retention. Healthcare Financial Management, 40-44. Retrieved from http://www.library.armstrong.edu/eres/docs/eres/MHSA7650-1_CROSBY/7650_employee_satisfaction_retention_1.pdf. Kotlikoff, L., Wise, D. (1987). Employee Retirement and a Firm's Pension Plan (Working
Words: 438 - Pages: 2
1. Compare the pension plans of Coca-Cola and PepsiCo, including type of plan and funded status at 2007 year-end. Coca Cola has the defined contribution plan that includes all U.S. employees and some international employees, which are funded in accordance with local laws and income tax regulations. This is a plan that both, the employer and the employee make contributions. Coca-Cola match 100% of participants’ contribution up to a maximum of 3% of compensation and this plan offers significant
Words: 1073 - Pages: 5
Pension Plans vs. Contribution Plans A retirement plan is a savings and investment plan that provides income during retirement. Many times it is created by employers for employees. However, many people do not know the difference between a pension plan and a contribution plan. For example, they may believe that a 401K is their pension plan when in reality it is a contribution plan. Therefore, one should first learn to define what a pension plan is and what a contribution plan is. A defined
Words: 1841 - Pages: 8
what financial reporting method will the company use in making this change? prospective method retrospective method cumulative effect B. Pension Plans. Why are defined benefit pension plans recognized on a corporate balance sheet, but defined contribution pension plans are not? C.
Words: 1715 - Pages: 7
