Government OPEB Accounting and Financial Reporting 2024
4.00 Credits
Member Price $159
Non-Member Price $209
Overview
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.
Highlights
- 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
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 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
Preparation
None
Leader(s):
Leader Bios
Gary Caporicci, AICPA
Gary M. Caporicci, CPA, CGFM, CFF, is a senior partner and co-founder of Caporicci ; Larson, Inc. Certified Public Accountants, a subsidiary of MarcumLLP. Mr. Caporicci has over 30 years of audit and management experience and is responsible for the Firm’s Auditing and Accounting practice. Mr. Caporicci has extensive experience and knowledge in auditing and consulting for many government agencies. He has authored many audit and accounting courses and has been a frequent speaker and lecturer at many professional organizations. He is a Core Adjunct Professor at National University teaching government accounting, auditing and other upper division and graduate courses. In 2006, Mr. Caporicci was awarded Instructor of the Year for California CPA Education Foundation. He participated as a member of the Governmental Accounting Standards Board (GASB) Task Force on Deposits and Investment Risks Disclosure (GASB No.40) and is a member of the Governing Council of the California Society of CPAs. In 2010, Mr. Caporicci was awarded The Conference Volunteer of the Year for California CPA Education Foundation. Mr. Caporicci has written AICPA Accounting and Audit Guides for government and construction. In addition he has authored and instructed many governmental seminars and conferences. Mr. Caporicci’s was Chair of the California Committee on Municipal Accounting , Chair of the California Governmental Accounting and Auditing Committee and Chair and speaker of CalCPA’s Governmental Accounting and Auditing Conference. He is also a member of the CalCPA Council and National Reviewer for the Government Finance Officers Association.
Non-Member Price $209
Member Price $159