Be up to date on the latest GASB Standards.
Governments commonly offer retiree health care and other benefits to their employees, usually referred to as OPEB benefits. This promise of future benefits often creates a significant liability to governments that is now recognized on their financial statements under new GASB standards. This topic will help financial statement preparers, users and auditors understand the basic requirements of these new accounting standards. It will also help you understand some important modifications to the pension plan reporting standards to help them conform with the OPEB accounting and reporting. Understanding OPEB benefit accounting is essential to evaluate the financial condition of governments that offer these benefits, and this topic will offer the tools to help make such evaluation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Understanding the Requirements of GASB 73
- Why Did GASB 68 Need to Be Amended by GASB 73?
- Impact on Governmental Employer Financial Statements
Financial Reporting for OPEB Plans
- Conceptual Framework for OPEB Plan Accounting
- Understanding When a Trust is Used for OPEB Benefit Resources
- Familiarization With What the Various Disclosures Actually Mean
Financial Reporting for Governmental Employers That Offer OPEB Benefits
- Understanding the Difference Between OPEB Plan Accounting and Employer Accounting
- How GASB 75 Differs From Previous Practice
- Impacts on Governmental Financial Statements, Including Note Disclosures
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 31, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Warren Ruppel, CPA
Marks Paneth LLP
- Managing director with CBIZ Marks Paneth, part of a Top Ten accounting firm
- Author of CCH’s Knowledge-Based Audits of Not-for-Profit Organizations; Wiley’s Not-for-Profit Accounting Made Easy; and Not-for-Profit Audit Committee Best Practices
- Former assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting
- Served numerous public sector not-for-profit and government audit clients earlier in his career with KPMG and Deloitte & Touche
- Former board member and chair of the audit committee of the New York State Society of CPAs
- Appears quarterly as the government specialist on the CPA report distributed by SmartPros
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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