GASB 87, Leases
1 hour 5 minutes
Understand the new GASB 87 lease accounting requirements.
The new lease accounting requirements of GASB 87 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 is very significant for most governments and should be addressed. This course will enable you to not only understand the scope of the new requirements but also be able to explain and interpret the new lease accounting information that will be provided in the financial statements.
• You will be able to describe the new changes to lease accounting under GASB 87.
• You will be able to discuss the how readers of governmental financial statements should interpret this new accounting information.
• You will be able to explain the difference between the accounting and economic impact of implementing the new standard.
• You will be able to recognize the potential benefits and uses of the new lease information provided in the financial statements.