Webinar (CA): Government Pension Accounting and Financial Reporting

Description

Update your understanding of GASB new pension standards for accounting and financial reporting. Compare to prior standards for historical context. Use actual class exercises to review financial reporting of Total and Net Pension Liabilities and related note disclosures. The new pension standards are GASB statements Nos. 67, 68, 71, 73, 78, 82 ,85, and 92

Learning Objectives

• Establish financial reporting and accounting for state and local government pension plans.
• Recognize and discuss class exercises for a city’s Comprehensive Annual Financial Report (CAFR) and Notes to the financial statements with an emphasis on pensions.
• Identify actuarial valuation for Total Pension Plan Liability.
• Recognize some specific auditing issues for pensions, such as census data auditing.
• Summarize key points from 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
• Nos. 73, 78, 82 and 92

Major Topics

• Accounting and financial reporting for (Aggregate) Net Pension Liabilities
• Effect of the Measurement Date
• Eight 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
• Update key materials for CalPERS results for 2020

Provider
California CPA Education Foundation
Course Level
Intermediate
CPE Field of Study
Accounting Governmental
4
Who Should Attend

Governmental accountants and financial professionals.

Instructor(s)
Gary Caporicci
Prerequisites

An understanding of governmental accounting and financial reporting.

Advanced Preparation

This webinar is produced by CalCPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Jan 27, 2022
9:00 am - 12:30 pm MDT
Location
Webinar
Total CPE Credits
4
Format
Webinar

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Webinar (CA): Government Pension Accounting and Financial Reporting


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