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GASB 73, 74, and 75 Statement Overview

Are you 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.


Runtime: 89 minutes
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Why Lorman?

Over 32 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 32 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 Webinar

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.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 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

Warren Ruppel, CPA

Marks Paneth LLP

  • Partner in the nonprofit and government services group at Marks Paneth LLP, a mid-sized accounting firm based in New York, and practice leader for government services
  • Formerly the assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting, including its implementation of GASB 34
  • Earlier in his career with KPMG and Deloitte & Touche, serving numerous government audit clients
  • Written several books, including Wiley’s GAAP for Governments and Government Accounting Made Easy
  • Member of the Accounting and Auditing Committee of the New York State Government Finance Officers Association
  • Member of the AICPA’s Technical Issues Committee’s subgroup for governmental accounting matters
  • Member of the Special Review Committee of the national Government Finance Officers Association
  • Appears quarterly as the government specialist on the CPA Report distributed by SmartPros
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Product ID: 405815
Published 2019
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