Defined benefit plans: old fashioned for new wave?
Some analysts see defined benefit plans (DBPs) as anachronistic in light of tax reform and growing administrative costs, but these plans have one distinct advantage over the alternative defined contribution plan: they provide statements telling workers what they can expect to receive upon retirement. Defined contribution arrangements can only state what their current amount is and what they would receive if leaving now. The DBP also has an advantage for the corporate treasurer, since the firm receives the plan's investment yield rather than the worker, allowing differentials between actual and expected yields to foster reduced company contributions. The main disadvantages of DBP are: liabilities may grow faster than the company's ability to fund them; employee mobility may increase the value over current rather than future benefits; and legislation has contributed to administrative problems.
Publication Name: Cashflow Magazine
Current development in human resource costing and accounting: Reality present, researchers absent?
Human Resource Costing and Accounting (HRCA) research was most fruitful from the late 1960s to the end of the 1970s. Human resource accounting (HRA) advanced high on the research agenda, but the interest in HRCA fell at the end of the 1970s. The Organization for Economic Co-operation and Development (OECD), the European Commission (EC) and the Swedish government have all put HRCA on their agendas. The main conclusions from the Swedish HRCA scene that could have important impacts on future international HRCA research, are considered. One problem of HRCA research is the failure to recruit new researchers.
Publication Name: Accounting, Auditing and Accountability
NI Arrears and the Company Director
Many directors have found the Department of Health and Social Security's recent tough line on national insurance (NI) matters a little difficult to take. If an employer fails to pay the NI contributions within fourteen days of the end of an income tax month, he commits an offense, and summary proceedings may be instituted against him. If the offense is committed with the consent or connivance of a director, that person as well as the body corporate is guilty of the offense.
Publication Name: The Accountant
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