ACC 541 Week 5 Individual Assignment Reporting Paper

May 1st, 2015
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ACC 541 Week 5 Individual Assignment Reporting Paper

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Reporting PaperACC/541MEMORANDUMTO: Chief Executive OfficerFROM: Financial Controller DATE: March 19, 2012SUBJECT: Required Reporting for Pensions and Other Postretirement Plans Following the recent acquisition of the new company, several issues need to be considered. First, it is worthless that the acquired company had two different pension funds. In addition to that the firm is unfamiliar with its reporting requirements. Second, the acquired company has two segments that must be eliminated to match the firms requirements. This memo is therefore meant to shed some light on the reporting requirements for the other postretirement, defined benefit, and defined contribution plans. Additionally, the memo indicates what the firm needs to do to eliminate the two segments mentioned above. In defined contributions, employers pay a fixed annual contribution to the pension fund (Ruppel, 2010). For example, the company can promise to pay 5% of individual employees pay to his or her respective pension funds. In defined benefit plans, however; employees use a designated formula to determine the fixed retirement benefits to pay for individ

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