Which of the following statements is true about Accounting and Reporting for Defined Benefit Pension Plans?

Question

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Financial reporting requirements for defined benefit pension plans include a statement of net assets available for benefits, a statement of changes in net assets available for benefits, and two schedules - schedule of changes in funding progress and schedule of employer contributions. The schedules are included in the Required Supplementary Information after the notes to the financial statements. The schedule of employer contributions is required regardless of materiality. Notes are required to provide additional information about the plan, its assumptions, methodology, risks, and other relevant details.

Which of the Following Statements Is True About Accounting and Reporting