Assignment 3: Accounting for Pensions and other Post-Retirement Benefits Due Week 9 and worth 150 points
Using the Internet or Strayer databases, go to the FASB Website, located at http://www.fasb.org, 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:
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. 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. 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). 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. 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. Use at least three (3) quality references. Note: Wikipedia and other Websites do not quality as academic resources. Your assignment must follow these formatting requirements:
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length. 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.