This website uses cookies to ensure you have the best experience. Learn more

Acc541 Week 6 Project Essay

1066 words - 5 pages

MEMORANDUM
TO: Chief Executive Officer

FROM: Senior Accounting Team A

DATE: October 25, 2010

SUBJECT: New Business Acquisition

Pursuant to your request, we have researched some of the issues with our new acquisition including researching the reporting requirements for defined contribution benefit plans, defined contribution plans, in addition to other post retirement plans and what must be done to eliminate the two segments in our new acquisition according to the Financial Accounting Standards Board (FASB).

Defined Contribution Plan: In a defined contribution plan, fixed contributions are paid into an individual account by employees and employers. [1] With the defined ...view middle of the document...

Since plan assets are restricted assets they are reported as noncurrent asset in the balance sheet and on the other hand any benefit payable within next 12 months is reported as current liability. If a company sponsors more than two plans than all over funded plan should be combined and reported as net assets and all underfunded plan should be combined and shown as one amount on the balance sheet. Any actuarial gains and losses along with prior service costs should be recognized as an increase or decrease in the comprehensive income.

There is some information that may not be shown on the financial statement but are disclosed in the notes. A schedule is required showing all major components of pension expense. A reconciliation of beginning and ending balances of plan assets due to the effect of the projected benefit obligation is required. All rates used to measure the benefit amounts needs to be disclosed. A table of pension plan assets is by category is disclosed. The disclosure will include the expected benefit payment for each of the next five fiscal years and an aggregate for the five fiscal years thereafter[3].

Other Post Retirement Benefits: FASB Codification 715-60-25 states that other post-retirement plans must be reported as an asset and a liability depending on whether the plan is overfunded or underfunded. In addition, an employer that sponsors one or more single-employer defined benefit postretirement plans other than pensions shall recognize in its statement of financial position the funded statuses of those plans. The employer shall aggregate the statuses of all overfunded plans and recognize that amount as an asset in its statement of financial position. It also shall aggregate the statuses of all underfunded plans and recognize that amount as a liability in its statement of financial position.

Any changes in the overfunding or underfunding of the plan must be reported in the year in which the change was made. The employer must also recognize any gain or loss from the plan in other comprehensive income. Footnotes to the financial statements must include any information relating to any delay of recognizing a gain or loss, any transitions of assets or obligations, and any prior costs and credits that would effect the next fiscal year reporting of the net periodic benefit cost[4].

Segment Elimination:...

Other Essays Like Acc541 Week 6 Project

GLG 101 Courses / glg101dotcom Essay

614 words - 3 pages Assignment: Deserts Lab GLG 101 Assignment: Groundwater Lab GLG 101 Week 1 CheckPoint: Study of Earth GLG 101 Week 1 Assignment: Minerals GLG 101 Week 2 CheckPoint: Fossils and the Geologic Column GLG 101 Week 2 DQS GLG 101 Week 3 CheckPoint: Plate Tectonic Theory GLG 101 Week 3 Assignment: Earthquakes GLG 101 Week 4 DQS GLG 101 Week 5 CheckPoint: Weathering and Erosion GLG 101 Week 5 Assignment: Sedimentary Rocks GLG 101 Week 6 DQS

CMC 260 Tutorials / cmc260dotcom Essay

619 words - 3 pages Assignment: Frank’s Visit to Mexico CMC 260 Week 5 CheckPoint: Language Habits CMC 260 Week 5 DQS Part 1 of 2 CMC 260 Week 5 DQS Part 2 of 2 CMC 260 Week 6 Assignment: Age, Gender, and Status CMC 260 Week 6 CheckPoint: Dining Etiquette CMC 260 Week 7 DQS Part 1 of 2 CMC 260 Week 7 DQS Part 2 of 2 CMC 260 Week 8 Assignment: Negotiation Approaches CMC 260 Week 8 CheckPoint: Negotiation Conflict CMC 260 Capstone

HTT 220 Tutorials / htt220dotcom

825 words - 4 pages CheckPoint: Executive Information HTT 220 Week 9 Capstone HTT 220 Week 9 Final Project: A Balanced Scorecard HTT 220 Week 4 CheckPoint: Internet-Based Transactions HTT 220 Week 6 Assignment: Competitive Advantage HTT 220 Week 6 CheckPoint: Global Distribution System HTT 220 Week 7 CheckPoint: Customer Relationship Management HTT 220 Week 8 Assignment: How Information Is Used HTT 220 Week 8 CheckPoint: Executive Information HTT 220 Final

Ops 571 Final Exam Latest University of Phoenix Tutoring

1615 words - 7 pages OPS 571 Week 4 Supply Chain Design Paper OPS 571 Week 4 Quiz (Latest) OPS 571 Week 4 Complete OPS 571 Week 5 DQ 1 OPS 571 Week 5 DQ 2 OPS 571 Week 5 DQ 3 OPS 571 Week 5 DQ 4 OPS 571 Week 5 Project Management Recommendation OPS 571 Week 5 Quiz (Latest) OPS 571 Week 5 Complete OPS 571 Week 6 DQ 1 OPS 571 Week 6 DQ 2 OPS 571 Week 6 DQ 3 OPS 571 Week 6 DQ 4 OPS 571 Week 6 Process Improvement Presentation OPS 571 Week 6 Quiz (Latest) OPS 571 Week 6 Complete OPS 571 Week 6 Final Exam Want to check other classes..?? Visit: www.uopehelp.com

Project Outline

1305 words - 6 pages Week 6 Individual Project Individual Project: Project Outline In Part II: Project Outline, the new executive (your Instructor) of your strategic business unit (SBU) asked your team to create a portfolio management process and project selection criteria for use by the SBU. Your executive is very satisfied with the work you did to create this process. In fact, he was so impressed with the process and criteria you defined, he has now asked you

OPS 571 Final Exam Latest UOP Final Exam Questions With Answers

1662 words - 7 pages €¢ The correct project software • Application of the learning curve theory • Tools and materials availability • People management skills Want help? Click to download OPS 571 Week 6 Complete 28. Which of the following is an analytical tool used in Six-Sigma quality improvement programs? • Gantt charts • Pareto charts • Tree charts • Pedigree charts 29. A project manager must consider several components when overseeing the

Final Paper

1365 words - 6 pages the only component of this assignment. Please make sure to review the full project description below. The Final Project is a 7- to 10-page paper that consists of a summation of an interview, a story, and a reflection. Final Project Due Date Day 7 of Week 11. Although the Final Project is not to be submitted until Week 11, you should become familiar with the project requirements and have them in mind as you proceed through the course. The

Project Management

857 words - 4 pages  Riordan Manufacturing Project Management Plan (Week 6) Christie M. Rivera-Colón PM/571 – Project Management April 9, 2015 Dr. Erika Ramos Riordan Manufacturing Project Management Plan (Week 2) Riordan Manufacturing is relocating its China plant from Hangzhou to Shanghai. After a project scope and Work Breakdown Structure has been established, the project management team must determine a budget. According to author

Project Management

4594 words - 19 pages University of East London, BSc (BIS/Comp) Semester 6, Project Management, Tutorial Questions and Answers Tutorial No: 01 Week No: 02 Date: 01/05/12 Group No: 05 Group Members: 03 1. Niaz Ruhi - 0792msms1109 2. Md. Abu J Rabbi - 0821msms1109 3. Mustafa Sayed - 0900krkr1109 Question 1: Define a project. What are five characteristics that help differentiate projects from other functions

Woody 2000 Project Critique

1641 words - 7 pages Management, 2011, p. 7). Aside from a lack of project planning and design, Leadbetter and Moneysworth made the decision to take a two week vacation at the same time and abandoned their duties to approve manufacturing drawings for the long lead item. Their decision was deemed to be a critical error, which resulted in a two week construction delay, which lead to an array of consequences and conflict with other project activities (Expert Project

What Makes A Good Project Manager

924 words - 4 pages , service, or result (Project Management Institute, 2008, p. 442). The word Manager most all of us can define this ourselves. It is someone in charge, a leader, a “shot caller”, descion maker, or thorn in our side. In answering the several question asked at the end of our reading assignment this week, we will be looking at what makes a good project manager, as well as problems they may face. In Answering Chapter Questions Characteristics listed

Related Papers

Project Management Pm 598 Week 6

967 words - 4 pages transpired during the negotiation portion, and prior to the finalizing and signing of the contract for this project. b) The fact that it happened prior to signing the contract is deduced from what the building manager, Iris said during the project team meeting. c) It is implied that during the finalization stage of the contract, the agreements probably changed thus the condition in the memo no longer holds as it did prior to this. Thus, as

Fin 571 Week 5 Connect Problems

1049 words - 5 pages Answers just a click away FIN 571 Week 2 Connect Problems 5. The net present value method of capital budgeting analysis does all of the following except: • incorporate risk into the analysis. • consider all relevant cash flow information. • use all of a project's cash flows. • discount all future cash flows. • provide a specific anticipated rate of return. 6. What is the net present value of a project with an initial cost of $36,900 and cash

Bus 518 Uop Course Homework Aid Week 1 Discussion 1

1531 words - 7 pages follow. Explain how you would vary your leadership style to ensure that the project is planned adequately. BUS 518 Week 6 Discussion 1 Changing Views. Please respond to the following: Consider the following situation: Key participants on your project management team were surveyed. The following are their responses. Do you think most people want to do a good job? No Do you believe most people are motivated by pay or the work

Operations Project Management Essay

693 words - 3 pages Homework Assignment 6 1. For the problem in Q2 of Homework 5, the company decided that the project in the previous problem has to be expedited in order to optimize (minimize) the project cost. Expediting can be used to trade direct cost for indirect cost, since expediting the project reduces the indirect cost of the project by a fixed amount per day, while expediting an activity increases its total direct cost. The Accounting Department