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GASB Statement No. 68 - In Depth Government Pensions Accounting & Auditing Seminar (109-16)
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GASB Statement No. 68, Accounting and Financial Reporting for Pensions, which becomes effective in 2015, represents a monumental change for those that prepare financial statements for and audit governmental pensions. We’ll explore issues such as actual note disclosures and RSI from early implementers, current practice issues, GASB’s Pension Implementation Guide and excerpts from the new pension chapter of the State and Local Government Audit and Accounting Guide.

9/22/2016
When: Thursday, September 22, 2016
7:30 AM - 3:45 PM
Where: UACPA Training Room
136 S Main Street Suite 510
Salt Lake City, Utah  84101
United States
Presenter: Bruce Shepard
Contact: April Deneault
801-466-8022


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Acronym GA6816
CPE 8 hours
Category
Government
Level Intermediate
Vendor AICPA
Who should attend

Auditors and financial managers responsible for the accounting and reporting of state and local governments

Prerequisite
Prior experience with
governmental accounting and
reporting
Fees: Early Bird
(through 9/8)
Standard
(after 9/8)
Member $257 $285
Non-Member: N/A
$340

AICPA Members receive an additional $30 off the price of this course. Use promo code AICPA8 at checkout to receive the discount.

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
GASB Statement No. 68, Accounting and Financial Reporting for Pensions, which becomes effective in 2015, represents a monumental
change for those that prepare financial statements for and audit governmental pensions. We’ll explore issues such as actual note disclosures and RSI from early implementers, current practice issues, GASB’s Pension Implementation Guide and excerpts from the new pension chapter of the State and Local Government Audit and Accounting Guide. In addition, this course provides in-depth examples and exercises
which allow participants practical application of the concepts presented. Specific topics include:

  • GASB Statement No. 68 accounting and reporting by governmental employers
  • Best practices for auditing single and multiple employer plans
  • Possible practice issues and practical solutions
  • Pension note disclosures and RSI

Objectives

  • Identify the new employer accounting requirements for public sector defined benefit and defined contribution plans.
  • Interpret the substantial changes to actuarial methods and assumptions used to determine the accounting numbers.
  • Calculate net pension liability (asset), pension expense, and deferred inflows and outflows of resources related to pensions and identify how they are displayed in the financial statements.
  • Distinguish the various roles of the key players in the context of employer management, plan administrators and external parties.
  • Apply the best practice solutions in single employer, agent multiple employer and cost-sharing multiple-employer plan audit
    engagements.
  • Prepare and audit the required employer pension note disclosures and RSI.
  • Determine various practice issues encountered while preparing or auditing the pension numbers and identify possible solutions.

Qualifies for Yellowbook

 

 

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