GASB Statement No. 34: Accounting for Fiduciary Funds (Agency and Pension Trust Funds)

Course Overview:

This course provides an overview of accounting and reporting for certain trustee and agent relationships encountered in the government environment. Specifically, the course covers accounting and reporting for pension and agency relationships in government in accordance with the requirements of GASB Statement No. 34. The course material is adapted with permission from Government and Not-for-Profit Accounting: Concepts and Practices, by Mich'l H. Granof (John Wiley & Sons, Inc., 2007).

Learning Objectives:

After completing this course, the course participant should be able to:

  • Distinguish between a defined contribution pension plan and a defined benefit pension plan.
  • Distinguish between an agent multiple employer plan and a cost-sharing multiple employer plan.
  • Describe the proper accounting treatment for defined contribution pension plans by governments.
  • Describe the proper accounting treatment for defined benefit pension plans by governments.
  • Identify the financial statements and schedules required by GASB 34 for pension trust funds.
  • Describe the typical accounting entries made in an agency fund.
  • Distinguish between when it is appropriate and when it is inappropriate to use an agency fund to account for resources.
  • Identify the financial statements required for agency funds by GASB Statement No. 34.

Content Partner:

SmartPros Ltd.

SmartPros Ltd. is a leader in online and offline continuing education for
accounting, finance and engineering professionals. With over 2,000 hours of
content, SmartPros has been providing mandatory continuing education
products since 1981. SmartPros provides services and content to its
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ROM, and video. In the accounting market, SmartPros also has a predominant
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Prerequisites/Advanced Preparation:

A basic knowledge of governmental accounting

Speaker / Author:

Richard Brooks
Richard C. Brooks, PhD, CGFM, is a professor of accounting at West Virginia University. He received his PhD in accounting from Louisiana State University, and his work experience includes both municipal and school district accounting. He has authored or co-authored articles related to governmental and nonprofit accounting in journals such as: Journal of Public Budgeting, Accounting & Financial Management; Research in Governmental and Nonprofit Accounting; Journal of Government Financial Management; Public Budgeting & Finance; and International Journal of Public Administration. His primary area of research is governmental accounting. Dr. Brooks teaches both graduate and undergraduate governmental and nonprofit accounting courses.

Software & Hardware Requirements:

  • 56k or Greater Internet Connection
  • Adobe Acrobat® Reader for the .pdf files
  • Adobe® Flash® Player 8 or higher
  • Modern DHTML Compatible Browser
  • Ram: 256 MB minimum
  • Windows or Mac OS

Price (USD)

Standard Rate: $49.90


Course Code : 993096

Course Level : Intermediate
Course Type : Interactive self-study
Passing Grade : 70%
Field Of Study : Accounting - Governmental
Format Type : eLearning
Theme : Miscellaneous

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