Reference no: EM13508597

Imagine you are an accounting manager and are in the process of implementing a pension plan for your organization. Prepare a brief report to management on the various types of pension plans. In your report, compare and contrast a contributory pension plan and a noncontributory pension plan, and discuss the theoretical justification for the accrual recognition of pension cost. Include one (1) recommendation to management on which type of pension plan would be most beneficial to the company.
• Discuss the type of information that must be included in notes to financial statements, and explain why the information is relevant to financial statement users. Imagine you are an employee of a company and want to know if the pension plan will provide you with the necessary benefits upon retirement. Determine the type of information you would look for in the notes on the pension funds, and ascertain the way in which the information will provide assurance that the company will properly fund your pension
• It is commonly known that, within a consolidated entity, one company can either sell merchandise with a profit embedded or depreciable or sell non-depreciable property with a gain embedded. Determine the financial impact, both positive and negative, of excluding such sales completely or of merely excluding the profit or gain embedded within the income of the sales. Next, suggest the financial reporting objectives of elimination entries, and give your opinion of whether the resulting financial statements would be misleading without the suggested elimination entries.
• Per the textbook, GAAP is silent as to the appropriate treatment of preaffiliation profit. Construct one (1) argument in which you provide at least three (3) reasons for the elimination of preaffiliation profit in the consolidation process. Provide support for your rationale.