Companies have raised at least two objections with respect to pention accounting First, companies oppose putting pension assets and liabilities on the balance sheet at gross amounts (as opposed to netting the assets and liabilities) Second, companies oppose marking pension assets and liabilities to...

There are two major accounting issues with respect to pensions First reporting the p ...

Companies have raised at least two objections with respect to pention accounting. First, companies oppose putting pension

Question:

Companies have raised at least two objections with respect to pention accounting. First, companies oppose putting pension assets and liabilities on the at gross amounts (as opposed to netting the assets and liabilities). Second, companies oppose marking pension assets and liabilities to fair value each period. Explain both of these objections and describe how accounts for each.
GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...