This course will update your understanding of GASB's new pension standards (GASB statements Nos. 67, 68, 71, 73, 78, 82, 85 and 92) for accounting and financial reporting and compare them to prior standards. In-class exercises will review financial reporting of Total and Net Pension Liabilities and related note disclosures.
Learning Objectives
• Determine accounting and financial reporting for state and local government pension plans.
• Recognize financial reporting of pensions in a city's Annual Comprehensive Financial Report (ACFR) and Notes to the Financial Statements.
• Identify actuarial valuation for Total Pension Plan Liability and the resulting Net Pension Liability.
Major Topics
• Accounting and financial reporting for Net Pension Liabilities
• Effect of the Measurement Date
• New pension standards by Governmental Accounting Standards Board (GASB)
• Generally Accepted Accounting Principles (GAAP) for government
• Defined Benefit and Defined Contribution Pension Plans
• Review and compare data and statistics for CalPERS in 2020 and 2021
.png){kind=logo}
