Government


GASB issued a technical bulletin that clarifies the requirements for calculating the annual required contribution (ARC) adjustment under GASB Statement no. 27, Accounting for Pensions by State and Local Governmental Employers, and Statement no. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions.

Technical Bulletin no. 2008-1, Determining the Annual Required Contribution Adjustment for Postemployment Benefits, applies to situations in which the actuarial valuation separately identifies the actual amount that is included in the ARC related to the amortization of past employer contribution deficiencies or excess contributions to a pension or other postemployment benefit (OPEB) plan. The technical bulletin encourages using the actual amount, if known, for the ARC adjustment in place of the estimation procedures of Statement no. 27 and Statement no. 45.

The technical bulletin can be purchased at www.gasb.org.

SPONSORED REPORT

Keeping client information safe in an age of scams and security threats

A look at the Dirty Dozen tax scams and ways to protect taxpayer information.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: IRS enforcement, a hot job, and audit value

The IRS’s 2016 Data Book, a “hot job” of particular interest at this time of year, and insight into how executive and audit committees view the insights from financial statement audits received attention recently. See how much you know with this short quiz.