Question

Accounting for pensions receives more attention in the United States (US) than in other countries. Discuss reasons that would explain why pension accounting has less emphasis in many foreign countries than the US.

Answer 1

I. Lack of a proper pension system

II. Corruption

III. Lack of interest.

Explanation:

I. Lack of a proper pension system: Some countries especially in the developing countries have no proper pension system which makes them not to put good attention to pension accounting

II. Corruption: This is one of the main reasons why pension accounting is given less accounting in many countries of the world, as some leaders usually wants to create room to loot the funds of the pensioners.

III. Lack of adequate interest: Some countries of the world give less focus and emphasis on the plights of pensioners which makes them not to put good effort to their issues or pension accounting.