Understand the new GASB 87 lease accounting requirements and how it differs from current GASB requirements.
The new lease accounting requirements of GASB 87 will have a significant impact on the financial statements of virtually every government that is a party to a lease agreement. Preparers, users and auditors of governmental financial statements need to understand these requirements as the effort required for implementation will be very significant for most governments and should be planned for now. This topic will enable you to not only understand the scope of the new requirements, but also to be able to explain and interpret the new lease accounting information that will be provided in the financial statements.
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of the New GASB 87 Lease Accounting Requirements
- Major Differences With Current GASB Requirements
- How Do the Requirements Compare With the New FASB Lease Standard?
- Effective Date
How Does GASB 87 Define a Lease?
- Types of Agreements Within the Scope of GASB 87
- Types of Agreements Outside the Scope of GASB 87
Determining the Least Term
- Consideration of Lease Extension Options
- Consideration of Lease Termination Options
- Fiscal Funding Clauses
- Rules for Short Term Leases
Lease Accounting for Lessees
- Measurement and Recognition of Lease Liability
- Accounting for the Right to Use Asset
- Disclosure Requirements
Lease Accounting for Lessors
- Measurement and Recognition of a Lease Receivable
- Accounting for the Deferred Inflow of Resources
- Accounting for the Underlying Leased Asset
- Disclosure Requirements
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 25, 2019.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Warren Ruppel, CPA
Marks Paneth LLP
- Currently, partner in the nonprofit, Government and Healthcare Group of Marks Paneth LLP, a Top 100 accounting firm based in New York
- Author of CCH’s Knowledge Based Audits of Not-for-Profit Organizations; Wiley’s Not-for-Profit Accounting Made Easy; and Not-for-Profit Audit Committee Best Practices
- Formerly the assistant comptroller of accounting for the city of New York, with overall responsibility for the city’s accounting and financial reporting
- Earlier in career with KPMG and Deloitte & Touche, serving numerous public sector not-for-profit and government audit clients
- Former board member and chair of the audit committee of the New York State Society of CPA’s
- Appears quarterly as the government specialist on the CPA report distributed by SmartPros
More Program Information
Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- Live Webinars
- OnDemand Webinars
- MP3 Downloads
- Course Manuals
- Audio Recordings*
- Executive Reports
- White Papers and Articles
- Sponsored Live Webinars
Additional benefits include:
- State Specific Credit Tracker
- Members Only Newsletter
- All-Access Pass Course Concierge
* For audio recordings you only pay shipping
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
