Government & Non-Profit Accounting: Accounting for Fiduciary Activities - Agency & Trust Funds

Описание: Government & Non-Profit Accounting:
Accounting for Fiduciary Activities -
Agencies and Trust Funds (Chapter 8)
April 3rd, 2013
by Professor Irfan Bora

This lecture is begin with an explanation of how trust funds and agency funds are used to report on the fiduciary activities of a government. Agency funds and trust funds are also compared and contrasted (for trust funds, when they are used privately, for investing, or for pensions). The purpose and applications of agency funds is also discussed, as well as the standard activities and proper financial reporting for agency funds. The purposes, proper accounting, and proper financial reporting methods for cash, investment pools, investment trust funds, private purpose trust funds, and pension trust funds. Lastly, the proper accounting for postemployment benefits is discussed before completing the lecture.


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Overview of the Lecture's Learning Objectives: 0:45

Agency Funds: 2:09

Agency Funds - Typical Uses (3 Types): 4:07

Special Assessment Agency Funds: 8:15

Example of Special Assessment Agency Fund (Journal Entries): 9:08

Tax Agency Funds (Illustrative Transactions -
Examples with Journal Entries): 11:05

Pass-through Agency Funds: 16:48

Fiduciary Funds Required Financial Statements: 22:34

Statement of Fiduciary Net Assets (Illustration): 22:55

Statement of Changes in Fiduciary Net Assets: 25:00

Types of Trust Funds (3 types): 27:06

Trust Funds: 27:27

Investment Trust Funds: 29:23

Private Purpose Trust Funds: 35:25

Accounting for Private Purpose Trust Funds: 40:17

Private Purpose Trust Funds (revisited): 40:35

Pension Trust Funds: 46:01

Employer Pension Accounting: 54:03

Reporting for Defined Benefit Pension Plans: 55:53

Statement of Net Assets (illustration): 1:05:46

Statement of Plan Net Position (Illustration): 1:09:36

Statement of Changes in Plan Net Position (Illustration): 1:12:15

Schedule of Employer Contributions: 1:13:14

Schedule of Funding Progress: 1:14:10

Evaluating Defined Benefit Pension Plans: 1:16:12

Employer Pension Accounting - Key Terms
(Annual Required Contributions - ARC): 1:18:40

NPO - Net Present Obligation: 1:24:22

Annual Pension Cost: 1:24:27

Schedule of funding progress (Revisited): 1:25:21

Employer Pension Accounting - Key Terms (revisited): 1:28:00

Employer Pension Accounting - Expenditure / Expense: 1:28:54

Other Postemployment Benefits (OPEB): 1:33:47

Managing Investment Trust Funds and Pension Funds: 1:34:04

Polling Questions: 1:35:01

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