FAS 158

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Under SFAS 158, issued by FASB in 2006, employers that sponsor defined benefit pension and other post-retirement plans are required to report the funded status of their plans on their balance sheets rather than in footnotes to their financial statements. A plan’s funded status is the difference between the fair market value of its assets and its benefit obligations. For plan years ending after December 15, 2008, the valuation date for plan assets and benefit obligations must be the date of the employer's statement of financial position.

The Knowledge Congress is assembling a panel of pension accounting experts to help post-employment plan sponsors understand the new reporting requirements and ensure compliance with the new standard. The speakers will share their expertise in a two-hour LIVE Webcast.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Conference
Recommended CLE/CPE Hours: 1.75 - 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date.)
Advance Preparation: Print and review course materials
Course Code: 093874
Course Fee: $199 - $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for FAS 158 live webcast:


  Event Talking Points (click here to view more)
SEGMENT 1:


Kimberley M. Granger, Assistant Director, Education, Workforce, and Income Security,
U.S. Government Accountability Office

Collateral Damage: The Impact of Financial Market Turmoil on Retirement
- U.S. Financial Markets Suffering Greatest Decline since the 1930’s
- Financial Market Changes from Year-end 2007 to Year-end 2008
- Trends in U.S Retirement Assets ($Trillions)
- Private Plans: GAO Study Shows DB plans and Participants Impacted by Recession
- Private Plans: Recent Reports Underscore Recession’s Impact
- PBGC Finances at Risk
- Pension Protection Act of 2006: Improving DB Plan Funding and Design
- Pension Protection Act of 2006: Measures Related to PBGC
- Issues for Private Plans in the Future
- Issues for the Federal Government to Address Future Retirement Security

SEGMENT 2:


John T. Stokesbury FSA, Director, Human Capital – Total Rewards,
Deloitte Consulting LLP

- FASB 158's Major Provisions
- Recognition of Plan's Funded Status
- Current vs. Non Current Assets/Liabilities
- Additional Permanent Disclosure Requirements
- Measurement Date
- Other Concepts

SEGMENT 3:


Gregory Nicholson, GHRS National Technical Consulting Unit,
PricewaterhouseCoopers LLP

- Introduction – Evolution of Pension Accounting
- Current IASB Proposal (Exposure Draft expected late 2009)
- IFRS and U.S. GAAP – the Proposed SEC “Roadmap”

SEGMENT 4:


William B. Duff, Partner, Chair, Employee Benefits and Executive Compensation Department,
Katten Muchin Rosenman LLP

Practical Impact of PPA funding and FASB Statement 158
- Overview
    – Who Cares?
    – Watch those creditors
    – Disclosures
    – Plan Design Changes



U.S. Government Accountability Office
Kimberley M. Granger
Assistant Director, Education, Workforce, and Income Security
speaker bio »»

Deloitte Consulting LLP
John T. Stokesbury FSA
Director, Human Capital – Total Rewards
speaker bio »»

PricewaterhouseCoopers LLP
Gregory Nicholson
GHRS National Technical Consulting Unit
speaker bio »»

Katten Muchin Rosenman LLP
William B. Duff
Partner, Chair, Employee Benefits and Executive Compensation Department
speaker bio »»

Who Should Attend?

- CPAs
- Accountants
- Internal Auditors
- Finance Executives from Public Companies
- Tax Attorneys
- Tax Consultants
- Chief Actuary Officers

Why Attend?

This is a must attend event for anyone interested in knowing more about the latest updates on FAS 158 & Other Post-Retirement Plans
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    


** Discounts Apply for early registration

Disclaimer:
Please note, the event date is firm although it may be subject to change. Please click here for details.


FAS 158: Accounting for Defined Benefit Pension and Other Post-Retirement Plans
Speaker Firms:


U.S. Government Accountability Office








 

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We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

Attention New York Attorneys:

This program is approved for CLE credit under New York’s Approved Jurisdiction policy. The Knowledge Group, LLC is an approved sponsor in the state of California, a New York Approved Jurisdiction. This program fulfills the non-traditional format requirement of exceeding 60 minutes in length. Please note only experienced attorneys (more than 2 years) are eligible to receive CLE credit via non-traditional format learning platforms. The Knowledge Group will verify attendance during the webcast via secret words (3 per credit hour) and by auditing attendees log in and log out records. All verification instructions will be provided during the webcast. Once attendance verification requirements have been completed, the attendee will be issued a certificate of attendance be The Knowledge Group for the course with the recommended number of credit hours. The Certificate of Attendance is normally sent via email in 24 hours or less.

To Claim Your CLE Credits:

The attorney should simply include credits earned via Knowledge Group webcasts when computing the total number of CLE credits completed, and keep the Knowledge Group Certificate of Attendance for a period of at least four (4) years in case of audit. An attorney may count towards her/his New York CLE requirement credit earned through the Approved Jurisdiction policy without notifying the CLE Board.

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Enrolled Agents Sponsor ID Number: 760

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