noncash contributions

Industry1

1. 965-20Net Assets Available for Plan Benefits965 Plan Accounting—Health and Welfare Benefit Plans

   ASC 965-20 governs the "net assets available for benefits" component of health and welfare benefit plan financial statements. It requires the plan to accrue non-benefit liabilities (e.g., securities purchased, income taxes payable, third-party administrator fees), record noncash contributions at fair value less costs to sell if significant, and present a statement of net assets available for benefits showing total assets, total liabilities, and net assets available for benefits. The companion statement of changes must show, in sufficient detail, the significant changes for the year, including contributions by source, net appreciation/depreciation in fair value, investment income, claims payments, premiums, and administrative expenses.