Class, speaking of accounting ethics, it could be Principle-based or Rules-based. Here is an interesting article discussing the two bases – https://auditsense.com/rules-vs-principle-ethics/ (Links to an external site.) Which base do you prefer and why, anyone?
Week 3 Discusion 2
1) what is the difference between Accumulated Benefit Obligation and Projected Benefit Obligation? How do you determine the Plan Asset/Liability? How do you compute the Pension Expense?