What are the differences and similarities between a defined contribution plan and a defined benefit plan?
o Why are prior service costs amortized?
o Why is there a gain or loss in a pension expense calculation?
o How are unfunded amounts indicated in the financial statements?
o As an employee, would you rather have a pension plan or a 401K plan? Why? If you were an employer, would your decision change? Why or why not?
o Identify types of pension plans and their characteristics.
o What are the components of pension expense?
o Explain the corridor approach to amortizing gains and losses.

 

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