Financial Statements of Employee Benefit Plans (F7:M4) Flashcards
what are the required FS for defined benefit pension plans? (4)
statement of net assets available for benefits (YE figures)
*similar to a BS
statement of changes in net assets available for benefits
*similar to an IS
statement of accumulated plan benefits (YE figures)
*similar to a BS
statement of changes in accumulated plan benefits
*similar to an IS
what are the required FS for defined contribution pension plans?
statement of net assets available for benefits (YE figures)
*similar to a BS
statement of changes in net assets available for benefits
*similar to an IS
the change in actuarial PV of accumulated plan benefits is shown on which statement?
statement of changes in accumulated plan benefits
which defined benefit pension plan FS would report the amount of benefits paid to beneficiaries during the year?
statement of changes in net assets available for benefits
statement of changes in accumulated plan benefits
how should plan investments be reported in a defined benefit plan’s FS?
at FV
