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Government Sector Accountants: An Introduction to GASB 87 Lease Accounting

GOVERNMENT SECTOR ACCOUNTANTS: AN INTRODUCTION TO GASB 87 LEASE ACCOUNTING

This course was designed for accountants who work for Universities, school systems, airports, or any other local & state government organization
Cost Free
CPE Credits 1.0 hour
CE Credits 0.0 hours
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Who should attend? Bookkeeper
CFO / Controller
Other
Course Description

'An Introduction to GASB 87 Lease Accounting' will provide an initial comparison between GASB 87 and the standards that previously governed lease accounting for state and local governments. The course will provide details on certain asset types and contracts that may be scoped out of the new standard requirements. The second-half of the presentation will cover an example of implementing the new lease guidance from the perspective of both a lessee and lessor. The examples will include amortization schedules and journal entries. Lastly, we will compare disclosure requirements under the legacy and GASB 87 guidance for both lessees and lessors.
 
Course Objectives:


  • Current State of Lease Accounting - the legacy GASB standards and some of the basics that change at the transition to GASB 87

  • Scoping Considerations - both for assets being scoped out and types of agreements

  • Financial Statement Impact - An example of both a lessee and lessor lease, with an amortization schedule and JEs

  • Disclosure Requirements - Both for legacy GASB and GASB 87 lessee and lessor

Linkedin

Jason Parker

LeaseQuery, LLC
Accounting Solutions Manager
jason.parker@leasequery.com
(678) 492-5970

Leasequerylogo

Jason Parker is an Accounting Solutions Manager at LeaseQuery. Prior to joining LeaseQuery, Jason worked in the audit practice at KPMG, serving clients in both the public and private sectors in a wide array of industries. Jason obtained the "Double Dawg" status at the University of Georgia, receiving both a Bachelors’s degree and a Master’s degree in Accounting. He is an active Certified Public Accountant and a current member of the AICPA.

Frequently Asked Questions
  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.
Handout Materials
Presentation Slides
Nasba

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor 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 submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

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About Our Presenter

Leasequerylogo

LeaseQuery helps more than 10,000 accountants and other finance professionals eliminate lease accounting errors through its CPA-approved lease accounting software. It is the first lease accounting software built by accountants for accountants. By providing specialized consulting services in addition to its software solution, LeaseQuery facilitates compliance with the most comprehensive regulatory reform in 40 years for companies across all sectors. For more information about LeaseQuery, visit LeaseQuery.com.