-Explain the major differences between Defined Contribution and Defined benefit pension plans.

-Why do many employers prefer to offer their employees Defined Contribution plans?

-Why was the PBGC created by the Federal Government?

-Explain the difference between the accumulated pension obligation and the projected benefit obligation.

-Which is the most important for accounting purposes?

-Explain how comprehensive income differs from net income on the income statement.

-What is a comprehensive income item.

-Explain the difference between the following three categories of common stock: issued, authorized and outstanding.

-What is atreasury stockand how it is treated under GAAP rules.

-1 example of a treasury stock transaction including journal entries.

-Explain what employee stock options are and how they should be accounted for?

-What is the difference between EPS and diluted EPS?-item which itemwould be considered dilutive.

-Distinguish between the three types of changes in accounting principle.

-Explain the differences between the two alternative methods of presenting the operating section on the cash flow statement.

-What istypical operating section adjustments to net income when using the direct method.

-How cash flow from operations on the cash flow statement relates to net income on the income statement.