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.
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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
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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.
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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
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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.

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