Webcast: Governmental Pensions: Prepare for a Changing Landscape (XACL4PENS119)
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GASB Statement No. 68 changed the playing field for governmental 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 info

12/11/2019
When: December 11, 2019
12:00 PM until 4:00 PM
Where: Webcast
AICPA
1930257:6AA0BA4F398FA8C0C23721D7C0B68DA8
United States
Presenter: Melisa Galasso


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Acronym XACL4PENS119
CPE 4 hours
Vendor AICPA
Category
Gov't A&A
Level Intermediate
Yellow Book? Yes
Registration Fees
Members* $179
CPA Non-Members $229

*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.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

Course Description

GASB Statement No. 68 changed the playing field for governmental 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 state and local governmental employers

- An overview of GASB Statement No. 67 accounting by a pension employee retirement systems (PERS)

- A discussion of subsequent amendments to GASB Statement No. 68

- Pension plan disclosures

- Governmental employer pension disclosures

Designed For: Auditors & financial managers responsible for the accounting & reporting of state & local government

Prerequisite: Prior experience with governmental accounting and reporting

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