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Sponsored by Lorman Education
Only registered attendee will receive continuing education credit.
Product ID: 405046
 
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GASB 73, 74, and 75 Statement Overview

Live Webinar
January 29, 2019
1:00 pm ET (12 pm CT, 11 am MT, 10 am PT)
1 hour 30 minutes
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Are you prepared for the new GASB statement requirements that may result in larger liabilities?

States and local governments face increasing challenges with accounting and financial reporting for pensions and other postemployment non-pension benefits (OPEB). Having settled in with GASB statements 67 and 68 for pensions and GASB statements 43 and 45 for OPEB, GASB changed and complicated the accounting and financial reporting rules over the past three years with GASB statements 73, 74 and 75. The new GASB statements require actuarial calculations, assumptions projections and new disclosures that result in larger liabilities than previously calculated under superseded GASB statements and, including these larger liabilities in balance sheet and income statements, no longer hidden in the notes of financial statements. Are investors better protected under the information required by GASB statements 73, 74 and 75? How will budgets need to be revised to comply with the new GASB statements? Will state/local government failure to comply give rise to failure to disclose material information, the risk of securities fraud liability through SEC investigation, or difficulty or additional expense in accessing capital market for public infrastructure? Asking these questions shed light on likely answers.

Learning Objectives

  • You will be able to define the pensions and OPEB and the role of GASB statements.
  • You will be able to describe how pension and OPEB liabilities are calculated under GASB statement rules.
  • You will be able to discuss with colleagues and clients the need for compliance with GASB statement rules.
  • You will be able to explain the changes imposed by GASB Statements 73, 74 and 75.

Registration

Live Webinar$99Register Now
Can't Attend?   Audio & Reference Manual$99Add to Cart