ACC 305 Intermediate Accounting III

“Pension Plans” Please respond to the following:

• 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.