Government Pension Accounting And Financial Reporting
Gain an understanding of Governmental Accounting Standards Board (GASB) pension standards for accounting and financial reporting. Compare these standards to the prior standards for historical context. Use actual class exercises to review financial reporting of net pension liability and related note disclosures. The new pension standards are GASB statements Nos. 67, 68, 71, 73, 78, 82 and 85.
- Accounting and financial reporting for (Aggregate) Net Pension Liability
- Affect of the Measurement Date
- Seven new pension standards by Governmental Accounting Standards Board (GASB)
- Generally Accepted Accounting Principles (GAAP) for government
- Defined Benefit and Defined Contribution Pension Plans
- Impact on Deferred Outflows of Resources and Deferred Inflows of Resources
- Recognize financial reporting and accounting for state and local governmental pension plans.
- Review and discuss class exercises for a city's Comprehensive Annual Financial Report (CAFR) and Notes to the Financial Statements with emphasis on pensions.
- Review actuarial valuation for Total Pension Plan Liability.
- Identify some specific auditing issues for pensions, such as auditing of the census data.
- Review a League of California Cities Retirement System Sustainability Study and Findings (January 2018).
- Summarize key points from the GASB statements:
- No. 67, Financial Reporting for Pension Plans
- No. 68, Accounting and Financial Reporting for Pension Plans
- No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date
- And others, Nos. 73, 78, 82 and 85.
Professionals in government and public accounting.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.