{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/962/#45-other-presentation-matters","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"205","topic_title":"Presentation of Financial Statements","subtopic":"205-962","subtopic_title":"Plan Accounting—Defined Contribution Pension Plans","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-962-45-1","para":"45-1","html":"
The financial statements of a defined contribution plan prepared in accordance with generally accepted accounting principles (GAAP) shall be prepared on the accrual basis of accounting and include both of the following:
  1. a
    A statement of net assets available for benefits of the plan as of the end of the plan year
  2. b
    A statement of changes in net assets available for benefits of the plan for the year then ended.
","snippet":"The financial statements of a defined contribution plan prepared in accordance with generally accepted accounting principles (GAAP) shall be prepared on the accrual basis of accounting and include both of the following:\n…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:9a58147ac5eb33058cd98a78888b6c547afa3a75601c961bbb26a7561db47ed7","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:93b96f486e34fd02773ff90e62151879a1e6a6c6d36f9df6e6e20587204d4ba8","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Net Assets Available for Benefits","paragraphs":[{"citation":"205-962-45-2","para":"45-2","html":"
The statement of net assets available for benefits of the plan shall present amounts for all of the following:
  1. a
    Total assets
  2. b
    Total liabilities
  3. c
    Subparagraph superseded by Accounting Standards Update No. 2015-12. (Part I).
  4. d
    Net assets available for benefits.
","snippet":"The statement of net assets available for benefits of the plan shall present amounts for all of the following:\n(a) Total assets\n(b) Total liabilities\n(c) Subparagraph superseded by Accounting Standards Update No. 2015-12…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:fe88319e13867d430eb37586ed84d1007c83e49a5c03fc29a0b031157c99aecf","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-3","para":"45-3","html":"
Paragraph superseded by Accounting Standards Update No. 2015-12 (Part I).
","snippet":"Paragraph superseded by Accounting Standards Update No. 2015-12 (Part I).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:5fa1fb4005fbd8cdee58cf621af946285795518f84535fe145f71f59c196693a","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bc15eafc3ca13cc717d3e5195f48fa6f07c75573789ddb643f9256d50346e891","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Other Components of Net Assets Available for Benefits","paragraphs":[{"citation":"205-962-45-4","para":"45-4","html":"
A plan may have liabilities (other than for benefits) that shall be accrued. Such liabilities may be for amounts owed for securities purchased, refund of excess contributions, income taxes payable by the plan, or other expenses (for example, third-party administrator fees). These liabilities shall be deducted to arrive at net assets available for benefits.
","snippet":"A plan may have liabilities (other than for benefits) that shall be accrued. Such liabilities may be for amounts owed for securities purchased, refund of excess contributions, income taxes payable by the plan, or other e…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:6587d384ec29541aa6c10cd33fb0dfa39dd12c2d1e620ccf5a885bf315acf8f3","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-5","para":"45-5","html":"
Paragraph superseded by Accounting Standards Update No. 2018-09.
","snippet":"Paragraph superseded by Accounting Standards Update No. 2018-09.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:073e31c6f47cd737b5455361d3f8978d9c95eea45414fdc800b97a009341e552","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cd04e2f913e5ad8c9f54949648ef6338783f4a01a383043c72a5b0f2c034dc48","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Changes in Net Assets Available for Benefits","paragraphs":[{"citation":"205-962-45-6","para":"45-6","html":"
The statement of changes in net assets available for benefits shall be prepared on a basis that reflects income credited to participants in the plan and net appreciation or depreciation in the fair value of only those investment contracts that are not deemed to be fully benefit-responsive. Paragraph 962-325-35-5 provides guidance on the accounting for fully benefit-responsive investment contracts.
","snippet":"The statement of changes in net assets available for benefits shall be prepared on a basis that reflects income credited to participants in the plan and net appreciation or depreciation in the fair value of only those in…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f013e11863622957fbd2b3f56668f89ae1237ce40f935e89cdd2211c827ca0e5","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-7","para":"45-7","html":"
Information about changes in net assets available for benefits is intended to present the effects of significant changes in net assets during the year and shall present, at a minimum, all of the following:
  1. a
    The net appreciation or depreciation in fair value. Net appreciation or depreciation includes realized gains and losses on investments that were both purchased and sold during the period as well as unrealized appreciation or depreciation of the investments held at year end.
  2. b
    Investment income, exclusive of changes in fair value described in (a).
  3. c
    Contributions from employers, segregated between cash and noncash contributions (a noncash contribution shall be recorded at fair value; the nature of noncash contributions shall be described either parenthetically or in a note).
  4. d
    Contributions from participants, including those transmitted by the sponsor.
  5. e
    Contributions from other identified sources (for example, state subsidies or federal grants).
  6. f
    Benefits paid to participants.
  7. g
    Payments to insurance entities to purchase contracts that are excluded from plan assets.
  8. h
    Administrative expenses.
","snippet":"Information about changes in net assets available for benefits is intended to present the effects of significant changes in net assets during the year and shall present, at a minimum, all of the following:\n(a) The net ap…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:951567e6dcbb6db35c47abb52b21afddd943868eb7f11c3d2b4638a2c485ea05","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"citation":"205-962-45-8","para":"45-8","html":"
The list of minimum disclosures is not intended to limit the amount of detail or the manner of presenting the information, and subclassifications or additional classifications may be useful. Other changes in net assets available for benefits (for example, transfers of assets to or from other plans or proceeds from demutualization) shall be presented separately in the financial statements if they are significant.
","snippet":"The list of minimum disclosures is not intended to limit the amount of detail or the manner of presenting the information, and subclassifications or additional classifications may be useful. Other changes in net assets a…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:edde6b677a0b1c43a5e12bde64f07daee38299097ab01a00397aefb57f50a5ed","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:42d199cd80f94a9f0b296081755b18eb838c3d1ffbef10736884c6d0d18aa88d","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Statement of Cash Flows","paragraphs":[{"citation":"205-962-45-9","para":"45-9","html":"
Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph also states that other employee benefit plans that present financial information similar to that required by Topic 960 (including the presentation of plan investments at fair value) are not required to provide a statement of cash flows. That paragraph also states that employee benefit plans are encouraged to include a statement of cash flows with their annual financial statements if that statement would provide relevant information about the ability of the plan to meet future obligations (for example, if the plan invests in assets that are not highly liquid or obtains financing for investments).
","snippet":"Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph also state…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:8440d8c6d4c7ddfdf7ec8fa116208124838c1f8c7beada2c7a4616b5818ea3de","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f80c6f8b64ecb4ab6198e3bdc28196cbec398ec3db2d3537338022b9143c5f60","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},{"block":null,"heading":"Interests in Master Trusts","paragraphs":[{"citation":"205-962-45-10","para":"45-10","html":"
For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statement of changes in net assets available for benefits, respectively. See Section 962-325-50 for master trust disclosures.
","snippet":"For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1c3b0edf123c11a83653c6cf9b56548a102f846d7cea6aee0bcbb27ebcd88541","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7c0d1d2fe03d5ac7ec9e2a8450e768b89f52f8a31d68f6256a31e9954066d5da","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd73bace74479773fb1f83209d48419c3a61fd53e3b702ad412e86b71aa25766","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bd73bace74479773fb1f83209d48419c3a61fd53e3b702ad412e86b71aa25766","downloaded_from":"2026-09-09T22:57:12.422Z","last_downloaded_at":"2026-09-09T22:57:12.422Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147477063","source_sha256":"3f44feab743a89810885799428d0e64fb01181a9472317abe6f237b3a95cb3f7"}}