GASB Statement No. 84, Fiduciary Activities - Lunch Crunch Webinar
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|Field of Study||Accounting (Governmental) - Technical|
|NASBA CPE||Earn 1.20 CPE Hours|
|Government / Partner Colleagues||$ 35.00|
The Governmental Accounting Standards Board (GASB) released a pronouncement on Fiduciary Activities that changes the definitions of fiduciary funds, which fiduciary activities to include in the primary government’s financial statements and what is reported for certain fiduciary funds. The IGFOA Technical Accounting Review Committee (TARC), in conjunction with the Illinois CPA Society, has prepared a draft of a white paper to assist Illinois governments in implementing this pronouncement.
During the Fall of 2019, GASB has been deliberating on topics that may impact the implementation of this pronouncement and the TARC White Paper. This session will update participants with the latest implementation guidance from IGFOA and GASB and review a sample implementation from an Illinois government.
Christina Coyle, CPA, Finance Director, Village of Glen Ellyn, IGFOA – TARC Chair
Frederick G. Lantz, CPA, Partner-in-Charge, Government Services, Sikich LLP
Learning Objectives: Participants completing this session will be able to:
1. Providing participants with a detailed understanding of the definition of fiduciary funds,
2. Understanding the types of fiduciary activities to be reported in the future,
3. Identifying what custodial funds are used for and how to report custodial funds,
4. How the new pronouncements will impact reporting of pension plans, OPEB plans, other employee benefit plans and funds held for others.
Intended Audience: Finance Professionals
Delivery method: Group Internet Based
Program Level: Overview
Prerequisites: No prerequisites required
Advanced Preparation: No advanced preparation required
Field of Study: Accounting (Governmental) - Technical
Earn about 1.00 CPE credit
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CPE Registry Illinois Government Finance Officers Association (IGFOA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State Boards of Accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.