Rights Contact Login For More Details
More About This Title Checklists and Illustrative Financial Statements 2017: Defined Contribution Retirement Plans
English
This edition covers plan types, such as 401(k) plans, 403(b) plans, and 11Ks. It contains the most comprehensive U.S. GAAP disclosure guidance available, and identifies the reporting requirements that you need to know and apply to meet the applicable standards. FinREC recommendations on many accounting topics are included throughout. Key changes include the new accounting standards updates related to investments at net asset value per share, as well as the effect of the simplification project. In addition, this edition includes useful tools such as illustrative financial statements and auditor's reports. Updates include:
- FASB ASU No. 2015-07, Disclosures for Investments in Certain Entities that Calculate Net Asset Value Per Share (or its Equivalent)
- FASB ASU No. 2015-12, Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient
English
Founded in 1887, the American Institute of Certified Public Accountants (AICPA) represents the CPA and accounting profession nationally and globally regarding rule-making and standard-setting, and serves as an advocate before legislative bodies, public interest groups and other professional organizations. The AICPA develops standards for audits of private companies and other services by CPAs; provides educational guidance materials to its members; develops and grades the Uniform CPA Examination; and monitors and enforces compliance with the accounting profession's technical and ethical standards.
The AICPA's founding established accountancy as a profession distinguished by rigorous educational requirements, high professional standards, a strict code of professional ethics, a licensing status and a commitment to serving the public interest.
English
Q2017, AICPA iii
Checklists and Illustrative Financial Statements: Defined Contribution Retirement Plans 1
Part 1—Introduction 1
General 1
Instructions 4
Recognition 6
Description 6
AICPA Employee Benefit Plan Audit Quality Center 6
Financial Accounting and Reporting 6
AICPA Technical Questions and Answers 7
Accounting and Reporting by DC Plans 7
SEC Reporting Requirements 10
Part 2—Financial Statements and Notes Checklist 13
I General 15
II Statement of Net Assets Available for Benefits 23
III Statement of Changes in Net Assets Available for Benefits 34
IV Summary of Significant Accounting Policies 37
V Other Financial Statement Disclosures 41
VI ERISA Reporting Requirements 99
VII SEC Reporting Requirements 103
Part 3—Auditor’s Report Checklist 107
Part 4—Illustrative Financial Statements and Auditor’s Reports 135
Fair Value Disclosures 135
Comparative Financial Statements and Supplemental Information 136
ERISA Limited Scope Audit—Disclosure of Certification 136
403(b) Plans 137
Other Resources 137
Illustrative Financial Statements and Disclosures of a Defined Contribution Retirement PlanWith
Participant-Directed and Nonparticipant-Directed Investment Programs 145
Illustrative Financial Statements—Employee Stock Ownership Plan (ESOP) 154
