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This document provides guidance on using the workbook for calculating OPEB liability under GASB 45 using an alternative measurement method, including instructions for data entry and assumptions required
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How to fill out GASB 45 Alternative Measurement Method Workbook User Guide

01
Start by downloading the GASB 45 Alternative Measurement Method Workbook from the official website.
02
Open the workbook and read the introductory section to understand its purpose and structure.
03
Gather necessary data such as employee demographics, service years, and benefit details.
04
Fill out the 'Assumptions' tab, entering values for discount rates, mortality rates, and healthcare costs.
05
Move to the 'Demographics' tab to input the collected employee data accurately.
06
Complete the 'Calculations' tab to generate estimates of actuarial accrued liabilities and annual required contributions.
07
Review the 'Output' tab to see the summary of your inputs and calculations.
08
Ensure all calculations and data entries are validated using the built-in checks in the workbook.
09
Save the workbook and make sure to back it up in a secure location.

Who needs GASB 45 Alternative Measurement Method Workbook User Guide?

01
Public sector entities that are required to report on post-employment benefits.
02
Accountants and financial professionals responsible for preparing financial statements.
03
Actuaries tasked with conducting valuations of pension and other post-employment benefit plans.
04
Finance departments within state and local governments handling budgetary and accounting matters.
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People Also Ask about

The reporting requirements of GASB 75 are generally more extensive than those under GASB 45. The changes for GASB 75 are designed to standardize the way OPEB expense is calculated and displayed in order to have consistency and comparability between reporting entities.
GAAP provides guidelines for preparing financial statements, ensuring consistency and transparency. GAAS focuses on the accuracy and reliability of audits, maintaining financial integrity.
Even small businesses benefit from core GAAP principles like accrual accounting. GAAS Only Matters for Public Companies: Private companies often need audits for bank requirements or investors. GAAS principles improve internal controls and provide valuable assurance at all business stages.
"GAAP Hierarchy" means the relative authority of the standards, rules, procedures, and other literature on financial accounting and reporting, as set forth in the Statement on Auditing Standards No. 69. "GASB" means the Governmental Accounting Standards Board.
Established in 1984, the Governmental Accounting Standards Board (GASB) is the independent, private- sector organization based in Norwalk, Connecticut, that establishes accounting and financial reporting standards for U.S. state and local governments that follow Generally Accepted Accounting Principles (GAAP).
GASB 74 replaced GASB 43, Financial Reporting for Post-Employment Benefit Plans Other Than Pension Plans, as amended, and GASB 57, OPEB Measurements by Agent Employers and Agent Multiple- Employer Plan. It became effective for financial statements for fiscal years beginning after June 15, 2016.
GASB 68 requires that for accounting purposes only, the entities that are actually making the pension contributions (i.e. school districts, cities, counties, or state) are required to report their proportionate share of the collective net pension liability in their financial statements, regardless of whether the
The Governmental Accounting Standards Board (GASB) sets financial accounting and reporting standards, known as Generally Accepted Accounting Principles (GAAP), for state and local government. The Financial Accounting Standards Board (FASB) sets standards for public and private companies and non-profit organizations.

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The GASB 45 Alternative Measurement Method Workbook User Guide is a resource designed to assist governmental entities in measuring and reporting their other post-employment benefits (OPEB) obligations in accordance with the guidelines set forth by the Governmental Accounting Standards Board (GASB).
Governmental entities that provide OPEB to their employees are required to use the GASB 45 Alternative Measurement Method Workbook as part of their financial reporting process.
To fill out the GASB 45 Alternative Measurement Method Workbook, entities must provide necessary data regarding demographic information, plan provisions, funding status, and actuarial assumptions. Users should follow the step-by-step instructions provided in the workbook to input the required data.
The purpose of the GASB 45 Alternative Measurement Method Workbook User Guide is to provide a standardized process for calculating OPEB liabilities, ensuring compliance with GASB standards and enhancing the accuracy and consistency of financial reporting.
The information that must be reported includes demographic data of covered employees, funding policies, benefit provisions, actuarial assumptions used in calculations, and the resulting OPEB liabilities and expenses.
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