2019-01-25T11:05:22+00:00 Assignments

What kind of pension plan does P&G provide its employees in the United States?

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Financial Reporting Problem The Procter & Gamble Company (P&G)

Financial Reporting Problem The Procter & Gamble Company (P&G) The financial statements of P&G are presented in Appendix 5B. The company’s complete annual report, including the notes to the financial statements, can be accessed at the book’s companion website, www.wiley.com/college/kieso . Instructions Refer to P&G’s financial statements and the accompanying notes to answer the following questions. (a) What kind of pension plan does P&G provide its employees in the United States? (b) What was P&G’s pension expense for 2011, 2010, and 2009 for the United States? (c) What is the impact of P&G’s pension plans for 2011 on its financial statements? (d) What information does P&G provide on the target allocation of its pension assets? (Compare the asset allocation for “Pensions and Other Retiree Benefits.”) How do the allocations relate to the expected returns on these assets?

**Kieso, et al., Intermediate Accounting, 15th Edition, 2013 John Wiley & Sons, Inc. ISBN # 978- 1-118-14729-0

P & G Pension Plan

  1. Question One

In the in the United States, P&G provide its employees with a defined contribution kind of pension plan. This type of the pension plan does not promise a specified amount of benefit upon employee’s retirement and each participant has an account. The benefit of the defined contribution plan depends both on the performance of the assets or investment that is purchased with the funds that are contribute to the account and by total amount money that is contributed to the account. P & G, funds this plans fully, where contributions are made to the participant’s account based on their years of service and salary base.

  1. Question Two

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