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Unformatted text preview: I feel that accounting for pension was of the more interesting chapters that we covered over the ten week term. This chapter discusses defined benefit plans and defined contribution plans. Understanding the difference between these two plans is helpful in anyone understanding what they need to do to retire in the way they want. This has helped me understand what to look for when I enter the working world and am looking to understand what they are offering in terms of post-retirement benefits. Understanding these types of pension plans tells me how much I need to put into a retirement fund in order to have a certain amount to retire on. This not only tells me what I can gain out of the retirement plan, it also tells me what the company I am working for can afford to pay out in pension and contribution funds. Being able to understand these finances of a business is important to the company’s demise or continuance in the market....
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This note was uploaded on 06/26/2011 for the course ACCOUNTING AC300 taught by Professor Jean during the Spring '08 term at Kaplan University.
- Spring '08