Government Pension Accounting and Financial Reporting 2024

Overview

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.

Highlights

• 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

Prerequisites

An understanding of governmental accounting and financial reporting.

Designed For

Governmental accountants and financial professionals.

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

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by the California Education Foundation (CalCPA). Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.