Accounting

The main objective of this essay is to present a comparative study of the accounting system in Portugal and the United Kingdom. It will seek to establish the core differences between their accounting standards, explaining the core issues and eventually the causes of these differences.

This piece of research will cover a detailed view of defined benefit schemes, the problem and risks associated with them, the problem of underfunding, how the pension is calculated under the schemes, and finally what measures can be taken to overcome the risks associated with these schemes.