Friday August 26, 2016
One of my Twelve Steps to Conquer Accounting includes a subscription to the Wall Street Journal In this post I offer a link to
One need look no further than our own San Antonio police and fire fighter negotiations to see the dangers. Accounting rules have not been stringent enough to force
actuaries and fund mangers to admit their assumptions of high returns on investments are unrealistic. In short we have huge pension shortfalls in many government sectors.
There is a chapter on pensions in Spiceland but I have not covered itl. The reason is that it covers defined benefit plans. I doubt there will ever be another defined benefit plan started in the USA.
At any rate, read, learn, grow as accounting students by reading outside the textbook for greater content.