Week 5 Discussion 1 “Accounting for Pension Plans” Please respond to the following: From the e-Activity, create an argument for the use of the mark-to-market accounting method for pension accounting. Evaluate the impact of earnings volatility on financial reporting using mark-to-market accounting, and indicate whether or not you believe this is a fair representation of pension obligations. Defend the current GAAP rules for pension accounting reporting on the balance sheet and the income statement. Recommend a change you would make to the current pension accounting to more accurately reflect the future obligations of a company. Week 5 Discussion 2 “General Motors” Please respond to the following: From the case study, assess the benefits and detriments of the U.S. Government-proposed bankruptcy plan that conserved General Motors’ liability to the United Auto Workers (UAW) pension and retiree health care fund. Indicate your agreement or disagreement with this approach. Provide support for your rationale. Examine the major advantages of transferring the post-retirement benefits to the UAW by General Motors. Indicate the likely impact to the company and its employees.