Assets Held for Investment Purpose
Posted 10 September 2009 - 08:12 AM
Opinions? Or, if there is a thread to previous conversations on this topic, it would appreciated. Thanks much!
Posted 10 September 2009 - 09:22 AM
I'm a retirement actuary. Nothing about my comments or advice is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial advice.
Posted 10 September 2009 - 09:50 AM
David, thank you, but I'm not looking at the Schedule of Assets Held. I'm specifically looking at the footnotes in the audit report for a limited scope audit, where you have to reference the various funds held within the plan. An asset greater than 5% has to be disclosed or asterisked. This is where I'm looking for the BOY or EOY classification.
See explanation for Line 4j on page 35 of the 2008 instructions. Reference is to "current value". I read that to mean "the value at the time of the transaction", without regard to BOY or EOY value. Anyone else?
Posted 29 September 2009 - 08:49 AM
For the supplemental schedule of reportable transactions for 5500 purposes, it's 5% of beginning of year Total Assets.