New FASB Standard for Multiemployer Pension Plans - Presented by: Russ Wasson, Director of Tax, Finance & Accounting, NRECA

Date: Thursday, December 15, 2011
Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenter(s): Russ Wasson, Director of Tax, Finance & Accounting, NRECA
Field of Study: Accounting
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.

Course Description

This presentation will focus on Disclosures About Employer’s Participation in a Multiemployer Plan (ASC 715) approved by the FASB on September 21, 2011 and you will gain knowledge and insight into the history of accounting for multiemployer plans and the evolution of accounting for such plans over the past 40 years. Participants will also learn about the FASB’s new Accounting Standards Update on Employer’s Contributions to Multiemployer Plans and what the required disclosures are and how their cooperative can comply with this new accounting standard.

Russ Wasson is the NRECA Director of Tax, Finance and Accounting Policy. Russ received his Bachelor of Science degree in accounting from the University of Arkansas at Little Rock in 1980 and after graduation went to work for Arthur Young & Co. in New Orleans. He passed the November 1980 CPA exam. After two years with Arthur Young, Russ went to work for Ernst & Whinney in Baton Rouge. One year later, he was hired by his client, Cajun Electric Power Cooperative, as their first tax manager. Russ worked at Cajun from 1983 until their assets were sold to an affiliate of XCEL Energy of Minneapolis in 2000. At the time of his promotion to Vice President and Corporate Controller, Russ had forty four individuals in his Division. At the conclusion of the Cajun bankruptcy, his Division had decreased to a total staff of twenty one. In 2001, Russ began teaching at Penn State’s Advanced School of Power Engineering. Russ started at NRECA on January 10, 2005.

Presenter and Moderator Bios
Russ Wasson is the NRECA Director of Tax, Finance and Accounting Policy. Russ received his Bachelor of Science degree in accounting from the University of Arkansas at Little Rock in 1980 and after graduation went to work for Arthur Young & Co. in New Orleans. He passed the November 1980 CPA exam. After two years with Arthur Young, Russ went to work for Ernst & Whinney in Baton Rouge. One year later, he was hired by his client, Cajun Electric Power Cooperative, as their first tax manager. Russ worked at Cajun from 1983 until their assets were sold to an affiliate of XCEL Energy of Minneapolis in 2000. At the time of his promotion to Vice President and Corporate Controller, Russ had forty four individuals in his Division. At the conclusion of the Cajun bankruptcy, his Division had decreased to a total staff of twenty one. In 2001, Russ began teaching at Penn State’s Advanced School of Power Engineering. Russ started at NRECA on January 10, 2005.

Cost
$56.00 for NSAC Members / $70.00 for Non-Members

Delivery System

  • All programs are delivered using the Zoom platform.
  • Confirmations will include log-in instructions.
  • Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
  • All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
  • There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.

Registration

All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.

Refund Policy

NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.

Additional Information

Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.

For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.

What is NSAC's Cooperative Learning Network?
The NSAC Cooperative Learning Network is a live, interactive webinar, and you can attend from any location with internet and/or telephone access. NSAC members can attend an unlimited number of CLNs at no charge!

Each Cooperative Learning Network will have one or more speakers who are recognized experts on the topic. CLNs typically include a Q&A session where participants can ask questions live or by chat. No advance preparation or prerequisites are required, unless otherwise stated in the course information. Attendees are able to download copies of the slides and/or handouts and are provided a link to view the recording (unless the description states the session will not be recorded). These tools help continue your learning experience after the session.

CPE Credits
The National Society of Accountants for Cooperatives (NSAC) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor (#103068) of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Delivery Method: Group-Internet Based.

Why NSAC Cooperative Learning Networks?

Fast.
No wasted time. Get right to the heart of the matter in a course designed to easily fit into your busy schedule.

Convenient.
No travel. No time out of the office. Listen and follow along from the comfort and convenience of your desk, device or conference room.

Easy.
A device with an Internet connection is all you need. If your device does not have sound capabilities, the ability to dial in from a telephone is available.

Ideal for multiple attendees.
Use a speakerphone and projector/monitor and invite as many people as you want to participate - at no extra cost to you.

Affordable.
NSAC Cooperative Learning Networks are free for members and available to non members at a fraction of the cost of travel and attendance fees for other high-priced conferences or seminars.