Diverse treatments of fund surpluses

Article Abstract:

One effect of Britain's bull market and the tendency of British firms to downsize is the surpluses of assets held by many British companies' pension schemes and retirement funds. According to the Finance Act of 1986, when the value of plan assets exceeds the value of plan liabilities by more than 5 percent, the employer providing the plan can eliminate the surplus by: (1) making a payment from the fund to the corporation, (2) reducing or suspending employer and employee contributions to the fund, or (3) enhancing the benefits provided by the fund. Surplus assets in a pension fund could make the employing corporation a target for a corporate takeover. Given this scenario, British companies are developing new ways to handle and report surplus assets in pension and retirement funds. Some of the British corporations' specific approaches are discussed.

Economic aspects, Pension funds, Employee benefits, Valuation, Assets (Accounting)

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If you're not sure then ask

Article Abstract:

Because marketing plans should be kept confidential from both the public and competitors, companies tend to be overly secretive about these plans, to the extent that company officers outside the marketing area are frequently unfamiliar with the marketing plan. This should not be the case. It is perhaps especially important for controllers and internal accountants to understand the marketing plan. A good marketing plan should address issues relevant to: company products, the client base, distribution of the company's products, sales promotional campaigns, product pricing, and sales, and should make judgments related to: a product's total demand, effects of competitors' marketing strategies, and legal or other constraints upon marketplace activities.

Services, Marketing, Marketing management, Accountants, Managerial accounting

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How to choose the right overseas auditor

Article Abstract:

British firms with foreign operations that must be audited are advised as to how to select the foreign auditor. Most British firms would do well to begin their search for a foreign auditor by asking their domestic auditors for referrals. The foreign auditor should be fluent in English and preferably have some international experience. When communicating with the foreign auditor, the British firm should be especially careful to ensure the confidentiality of the communications, and Telex communications may not be a good idea in this regard.

International business enterprises, Multinational corporations, Appointments, resignations and dismissals, Auditors

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