FS of employee benefit plans

Question 1

what are the two required FS of a defined contribution benefit plan?

Answer 1

• A statement of net assets available for benefit of a plan (BS or assets)
• A statement of changes in net assets available for benefits (IS)

Question 2

what are the 4 required FS of a defined benefit pension plan?

Answer 2

• A statement of net assets available for benefit of a plan (BS or assets)
• A statement of changes in net assets available for benefits (IS)
• A statement of accumulated plan benefits (causes of changes in PV of benefit to be paid to beneficiary)
• A statement of changes in accumulated plan benefits (changes in actuarial assumptions, plan amendment, benefit accumulated, and benefit paid) and if it’s favor to employees, it means addition

Question 3

what statement is optional for both a defined benefit pension plan and a defined contribution benefit plan?

Answer 3

• Statement of cash flows