Webcast: Governmental Pensions: Prepare for a Changing Landscape (XACL4PENS18)
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GASB Statement No. 68 changed the playing field for government organizations. Learn about landmark pension accounting changes and how they change the accounting and financial reporting of pension benefits. Explore all the GASB statements that make up the governmental pension reporting framework, including GASB Statement Nos. 67, 68, 71, 73, 78 and 82. Practical examples illustrate the new accounting requirements and more extensive note disclosures along with required supplementary information.

1/17/2018
When: 01/17/2018
8:00 AM until 12:00 PM
Where: Webcast
AICPA
1433582:3B2FA3D4F084929FD063C3761E915B6F
United States
Presenter: Melisa Galasso


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Acronym XACL4PENS18
CPE 4 hours
Vendor AICPA
Category
Government/Nonprofit
Level Intermediate
Prerequisite None
Adv Prep None
Yellow Book? No
Registration Fees
Members* $159
CPA Non-Members $199

*The member rate applies to LCPA members, other state CPA society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

GASB Statement No. 68 changed the playing field for government organizations. Learn about the landmark pension accounting changes and how they change the accounting and financial reporting of pension benefits. Explore all the GASB statements that make up the governmental pension reporting framework, including GASB Statement Nos. 67, 68, 71, 73, 78 and 82. Practical examples illustrate the new accounting requirements and more extensive note disclosures along with required supplementary information.

Objectives

  • Recall accounting requirements for single employer, agent multiple employer, and cost-sharing multiple-employer plans.
  • Identify the substantial changes to methods and assumptions used to determine actuarial information.
  • Recall how net pension liability (asset), pension expense, and deferred outflows of resources and deferred inflows of resources related to pensions are calculated and derived.
  • Recognize the role of management specialists, auditor specialists, and service organizations, and the related audit implications.
  • Distinguish the responsibilities of plan management, the plan’s auditor, employer management, and the employer’s auditor in the context of audits of government employers.
  • Audit pension plan disclosures.

Major Topics

  • GASB Statement No. 68 accounting by governmental employers
  • An overview of GASB Statement No. 67 accounting by pension employee retirement systems (PERS)
  • A discussion of subsequent amendments to GASB Statement No. 68
  • Pension plan disclosures
  • Governmental employer pension disclosures

Note: Login instructions will be provided by the webcast vendor (AICPA).