Discussion # 1
This week you read about business type activities. Review the FASB ASU Update 2017-01Business Combinations (Topic 805): Clarifying the Definition of a Business
From your reading and research, do you think business type activities should be accounted for differently than governmental activities? Justify your answer.
Discussion# 2
Many companies are moving away from traditional pensions (defined benefit pension plans) and moving to defined contribution plans. Explain the two types of plans and identify the pros and cons for employers and employees.