Accounting Rules
Form and Content of Financial Statements
Regulation S-X
Rule 6A-02 -- Special Rules Applicable to Employee Stock Purchase, Savings and Similar Plans
The financial statements filed for persons to which this article is applicable
shall be prepared in accordance with the following special rules in addition
to the general rules in Rules 1-01 to 4-10.
Where the requirements of a special rule differ from those prescribed in
a general rule, the requirements of the special rule shall be met. (a) Investment programs. If the participating
employees have an option as to the manner in which their deposits and contributions
may be invested, a description of each investment program shall be given
in a footnote or otherwise. The number of employees under each investment
program shall be stated.
(b) Net asset value per unit. Where appropriate,
the number of units and the net asset value per unit shall be given by footnote
or otherwise.
(c) Federal income taxes.
(1) If the plan is not subject to Federal income taxes, a note shall
so state indicating briefly the principal assumptions on which the plan
relied in not making provision for such taxes.
(2) State the Federal income tax status of the employee with respect
to the plan.
(d) Valuation of assets. The statement of financial
condition shall reflect all investments at value, showing cost parenthetically.
For purposes of this rule, the term "value" shall mean
(1) market value for those securities having readily available market
quotations and
(2) fair value as determined in good faith by the trustee(s) for
the plan (or by the person or persons who exercise similar responsibilities)
with respect to other securities and assets.
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