ACC541 ACC/541 Individual Reporting Paper - 19465

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You are a controller in a midsized manufacturing company that has acquired 100% of another company.  The acquired company includes two segments and two different pension plans.  Both of these reporting issues are ‘new’ to your CEO.  CEO is considering eliminating the two segments.

 

Write a 700- to 1,050-word executive memo that explains the required reporting for defined contribution, defined benefit, and other postretirement plans.  Include an explanation of what must happen for the two segments to be eliminated and the impact to the financial statements.  (You do not need to know details about the segments to answer this.)  You must cite the ASC.  You can supplement the ASC with other qualifying source information.

 

Briefly define the pension plans (including other post-retirement plan) and discuss the reporting/disclosure requirement of each.

 

In your discussion of segment elimination, you want to research the ASC for information on this issue and you will need to supplement from a qualifying source.  Explain to the CEO some things that should be considered when a company wants to eliminate a segment (look for an Article Link posting).  Discuss the impact to the financial statements if the segments are eliminated. Do not include a discussion of the pensions with the segment elimination. 

Solution Description

MEMORANDUM

TO: Chief Executive Officer

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