Concurrent Session Online

GOV2012. Leases: Preparing for the Single Model (Theory) - Part 1

GASB Statement 87 changes the recognition and measurement model used for reporting lease liabilities (lessees) and lease receivable (lessors). This session will highlight the requirements in Statement 87.

Learning Objectives:

  • Distinguish what types of contracts meet the definition of a lease and the types of contracts that do not.
  • Recognize the lease term and its importance when calculating a lease liability or lease receivable.
  • Estimate completeness of lease contracts and applying materiality to leases.
Date/Time
Oct 20
10:00 AM–10:50 AM
CPE Credits
1.0
NASBA Field of Study
Accounting (Governmental)
Level
Basic
Prerequisites
1-2 Years in the Profession
Advanced Preparation
None
Session Tags
State and Local Government
Yellow Book
Speakers
Image of Susannah Filipovic

Susannah Filipovic

CPA
Manager
Baker Tilly Virchow Krause, LLP
Image of Chris Pembrook

Chris Pembrook

CPA, CGAP
Shareholder
Crawford & Associates, PC