This course will provide an update on GASB New OPEB Standards regarding accounting and financial reporting. Key GASB Statements for OPEB, including GASB No. 74 (Financial Reporting for Post-employment Benefit Plans Other Than Pension Plans) and No. 75 (Accounting and Financial Reporting for Post-employment Benefits Other Than Pensions), will be reviewed. During the course, participants will gain an understanding of new OPEB standards (GASB Statements No. 74, 75 and 92) and compare them to prior standards for historical context. Class exercises will review a city's ACFR and actuarial valuation and the financial reporting of Net OPEB Liability and related note disclosures.
Learning Objectives
• Determine accounting and financial reporting for state and local governmental OPEB Plans (Post-Employment Benefits Other Than Pensions)
• Recognize and review the Net OPEB Liability in a city's Annual Comprehensive Financial Report (ACFR)
• Identify and review the actuarial valuation for Total OPEB Liability
Major Topics
• Accounting and Financial Reporting for Total and Net OPEB Liability
• Key GASB Statements for OPEB
• Determining Measurement Date
• Using Alternative Measurement Method for the Total OPEB Liability
• Defined Benefit and Defined Contribution OPEB Plans
• Actuarial Valuation of Total and Net OPEB Liability
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