Assignment: Accounting for Pensions and other Post-Retirement Benefits
Using the Internet, go to the FASB Website, and other resources to research the Disclosure of Postretirement Health Care and Life Insurance Benefits.
Write a four to six (4-6) page paper in which you:
1. Based on your research, compare and contrast the early historical accounting for Postretirement Health Care and Life Insurance Benefits with the guidance / rules in place today.
2. Based on your research, make at least two (2) recommended changes to the guidance / rules that you believe would improve the financial accounting and reporting of the benefits in question. Provide support for your recommendation.
3. Predict the significant manner in which the future of accounting for these benefits could change, based on potential changes in the business and political climate that you foresee. Provide support for your prediction(s).
4. Create a scenario in which at least two (2) types of Postretirement Health Care and Life Insurance Benefits change. Predict the potential impact of these changes on financial accounting and reporting practices.
5. Develop an argument that supports your proposed changes in Question 4. Next, create correspondence to your Chief Financial Officer in which you justify your position.
6. Use at least three (3) quality references.
The specific course learning outcomes associated with this assignment are:
- Analyze the key elements related to accounting for leases, pension funds, and other post- retirement benefits.
- Use technology and information resources to research issues in tax research and planning.
- Write clearly and concisely about tax research and planning using proper writing mechanics.