Pension Fund Accounting INTRODUCTION This research provides an a

In this research, the issues involved in pension fund accounting are considered, together with the provisions of FAS87 designed to address those issues. FAS87 is also assessed within the contexts of Statement of Financial Accounting Concepts No. 1: Objectives of Financial Reporting by Business Enterprises (Financial Accounting Standards Board, 1978), Statement of Financial Accounting Concepts No. 2: QualitativeCharacteristics of Accounting Information (Financial Accounting Standards Board, 1980), and Statement of Financial Accounting Concepts No. 6: Elements of Financial Statements (Financial Accounting Standards Board, 1985), hereinafter referred to as CON1, CON2, and CON6, respectively. Finally, the researcher's opinion of FAS87 is presented, with respect to validity and conformity to good accounting practice.

ISSUES INVOLVED IN PENSION FUND ACCOUNTING, AND FAS87

There are two general types of pension plans. The first requires a stipulated contribution (by an employer, or by a combination of employ

. . .
termed cashordeferred arrangements, referred to as CODAs (Greene, 1988). These regulations are contained primarily in Section 401(k) of the Internal Revenue Code. Preliminary regulations were issued in 1981; however, it was not until August 1988 that final regulations were issued (Mercer Meidinger Hansen, 1988). Between the issuance of the preliminary regulations in 1981 and the issuance of the final regulations in 1988, the enactment and implementation of the Tax Reform Act of 1986 (TRA 1986) changed some of the planned provisions of 401(k), and complicated others. As IRS regulations covering CODAs are contained in Section 401(k), qualified plans are referred to as 401(k) plans. Generally, to be qualified in Section 401(k), a cash or deferred arangement must be "a part of a profitsharing or stock bonus plan, a preERISA money purchase plan, or a rural electric cooperative plan under which an eligible employee may elect to have the employer make certain payments to a trust under the plan on behalf of the employee, or to the employee in cash" (PrenticeHall, Inc., 1988). 6 Possibly the most signifcant of the provisions of the regulations included in 401(k) deal with discrimination by employers between highly paid
. . .

Some common words found in the essay are:
Standards Board, Allison Neff, Board FASB, FASB Statements, Standards Committee, Reform Act, Act ERISA, PrenticeHall Inc, Wyatt Company, Fedders Perry, financial accounting, accounting standards, financial accounting standards, accounting standards board, standards board, pension fund, accounting concepts, pension plans, financial accounting concepts, pension plan, statement financial accounting, statement financial, standards board 1985, board 1985, pension funds,
Approximate Word count = 2586
Approximate Pages = 10 (250 words per page)

More Essays on Pension Fund Accounting INTRODUCTION This research provides an a