In June 2012, the GASB issued two interrelated standards (i.e., GASB No. 67 Financial Reporting for Pension Plans, and GASB No. 68 Accounting and Financial Reporting for Pensions) that change how governments determine and report the costs and obligations associated with pensions in significant ways. GASB No. 67 became effective for pension plans in 2014 and GASB No. 68 is becoming effective in 2015. This program will cover the essential aspects of these two standards and how the two standards work and in some cases do not work together.

Objectives: * Become comfortable and confident in working with the key and difficult requirements and concepts contained in GASB Nos. 67 and 68

Major Subjects: * Key requirements in GASB Nos. 67 and 68 and how they differ between single employer pension plans, cost-sharing multiple-employer pension plans, and agent multiple-employer pension plans * Key aspects of measuring the net pension liability under the different types of defined benefit pension plans * The AICPA Auditing Interpretations and whitepapers which were issued in 2014 in an attempt to build a pathway for employers and auditors to get the information they need from the pension plans to be able to apply GASB No. 68 * Additional information and schedules that pension plans need to provide over and above their GASB No. 67 financial statements

Designed For: Auditors and industry professionals working in the government and nonprofit environment

Prerequisite: Knowledge of government and nonprofit accounting and auditing

Advanced Prep: None

Speaker: Charles Blanton, CPA

Vendor: Surgent McCoy

Field of Study: Accounting (Governmental) (2)

Level: Update

CPE Credit: 2 Hours

Acronym: GNE3

Registration Fees: $89.00

Register here