# ASC 205-962-45: Presentation of Financial Statements — Plan Accounting—Defined Contribution Pension Plans — 45 Other Presentation Matters Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/205/962/#45-other-presentation-matters) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:bd73bace74479773fb1f83209d48419c3a61fd53e3b702ad412e86b71aa25766 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 205-962-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/205/962/#45-other-presentation-matters) SEC content: no ##### [205-962-45-1](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-1) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:9a58147ac5eb33058cd98a78888b6c547afa3a75601c961bbb26a7561db47ed7 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The financial statements of a [defined contribution plan](https://asc.understandingaccounting.org/glossary/d/#defined-contribution-plan "A plan that provides an individual account for each participant and provides benefits that are based on all of the following: amounts contributed to the participant's account by the employer or employee; investment experience; and any forfeitures allocated to the account, less any administrative expenses charged to the plan. Defined contribution health and welfare plans—Defined contribution health and welfare plans maintain an individual account for each plan participant. They have terms that specify the means of determining the contributions to participants' accounts, rather than the amount of benefits the participants are to receive. The benefits a plan participant will receive are limited to the amount contributed to the participant's account, investment experience, expenses, and any forfeitures allocated to the participant's account. These plans also include flexible spending arrangements. Defined contribution postretirement plan—A plan that provides postretirement benefits in return for services rendered, provides an individual account for each plan participant, and specifies how contributions to the individual's account are to be determined rather than specifies the amount of benefits the individual is to receive. Under a defined contribution postretirement plan, the benefits a plan participant will receive depend solely on the amount contributed to the plan participant's account, the returns earned on investments of those contributions, and the forfeitures of other plan participants' benefits that may be allocated to that plan participant's account.") 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. #### Net Assets Available for Benefits ##### [205-962-45-2](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-2) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:fe88319e13867d430eb37586ed84d1007c83e49a5c03fc29a0b031157c99aecf Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/updates/asu-2015-12/). (Part I). 4. d Net assets available for benefits. ##### [205-962-45-3](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-3) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:5fa1fb4005fbd8cdee58cf621af946285795518f84535fe145f71f59c196693a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2015-12](https://asc.understandingaccounting.org/updates/asu-2015-12/) (Part I). #### Other Components of Net Assets Available for Benefits ##### [205-962-45-4](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-4) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:6587d384ec29541aa6c10cd33fb0dfa39dd12c2d1e620ccf5a885bf315acf8f3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. A plan may have liabilities (other than for [benefits](https://asc.understandingaccounting.org/glossary/b/#benefits "The monetary or in-kind benefits or benefit coverage to which participants may be entitled under a pension plan or a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). Examples of benefits may include, but are not limited to, health care benefits, life insurance, legal, educational, and advisory services, pension benefits, disability benefits, death benefits, and benefits due to termination of employment.")) 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. ##### [205-962-45-5](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-5) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:073e31c6f47cd737b5455361d3f8978d9c95eea45414fdc800b97a009341e552 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2018-09](https://asc.understandingaccounting.org/updates/asu-2018-09/). #### Changes in Net Assets Available for Benefits ##### [205-962-45-6](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-6) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:f013e11863622957fbd2b3f56668f89ae1237ce40f935e89cdd2211c827ca0e5 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/asc/325/962/#325-962-35-5) provides guidance on the accounting for fully benefit-responsive investment contracts. ##### [205-962-45-7](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-7) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:951567e6dcbb6db35c47abb52b21afddd943868eb7f11c3d2b4638a2c485ea05 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/glossary/s/#sponsor "In the case of a pension plan established or maintained by a single employer, the employer; in the case of a plan established or maintained by an employee entity, the employee entity; in the case of a plan established or maintained jointly by two or more employers or by one or more employers and one or more employee entities, the association, committee, joint board of trustees, or other group of representatives of the parties that have established or that maintain the pension plan."). 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. ##### [205-962-45-8](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-8) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:edde6b677a0b1c43a5e12bde64f07daee38299097ab01a00397aefb57f50a5ed Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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. #### Statement of Cash Flows ##### [205-962-45-9](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-9) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:8440d8c6d4c7ddfdf7ec8fa116208124838c1f8c7beada2c7a4616b5818ea3de Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph [230-10-15-4](https://asc.understandingaccounting.org/asc/230/10/#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). #### Interests in Master Trusts ##### [205-962-45-10](https://asc.understandingaccounting.org/asc/205/962/#205-962-45-10) Pending content: no Source downloaded (UTC): 2026-09-09T22:57:12.422Z to 2026-09-09T22:57:12.422Z Record version: sha256:1c3b0edf123c11a83653c6cf9b56548a102f846d7cea6aee0bcbb27ebcd88541 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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.