Basic understanding of governmental generally accepted accounting principles and of accounting for postemployment benefits by governmental entities.
Those responsible for the preparation or audit of financial statements for governmental entities that provide pension and other postemployment benefits for their employees.
Employers’ pension and other postemployment benefits (OPEB) disclosures are two of the most complex areas of financial statement disclosure in governmental generally accepted accounting principles (GAAP). While governments are still in the early years of financial reporting under the current pension rules, new OPEB rules are now becoming effective as well.
This two-hour internet training will provide a comprehensive examination of all pension- and OPEB-related note disclosures and required supplementary information (RSI) that must be presented by governmental employers that provide these benefits to their employees. Employer disclosures for both defined benefit and defined contribution arrangements, whether or not administered through trusts, including those benefits provided through predominantly private-sector plans, will be discussed.
Those completing this seminar will be able to:
- Understand general content requirements for note disclosures and RSI by employers that provide pension and OPEB to their employees
- Understand differences in note disclosures and RSI required of employers that provide pension and OPEB defined benefit and defined contribution arrangements
- Understand differences in note disclosures and RSI required of employers that provide pension and OPEB through single-employer, agent multiple-employer, and cost-sharing multiple-employer plans
- Understand differences in note disclosures and RSI required of employers that provide pension and OPEB via plans administered through trusts or similar arrangements that meet criteria set by the Governmental Accounting Standards Board and for benefits not administered through such arrangements
- Understand the limited disclosure requirements for governments that provide pension or OPEB through plans in which non-governmental employers are the predominant participants