Accounting and Financial Reporting
Basic Accounting and Financial Reporting for Leases
May 4, 2022
Noon-2 p.m. ET
- Field of Study: Accounting (government)
- Credits: 2.00
- Prerequisite: Basic understanding of governmental generally accepted accounting principles.
This seminar will focus on the basic accounting and financial reporting for leases under Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. It is designed to provide participants with a solid working knowledge of the accounting for contracts that convey control of the right to use the service capacity of another entity’s nonfinancial asset(s), and ways in which to identify key contract provisions, including the lease term and the discount rate.
Who Will Benefit: Those responsible for the oversight, accounting, and financial reporting for government contracts.
- Those who successfully complete this seminar should be able to:
- Determine which contracts must follow the new lease guidance
- Identify the elements of financial statements that are used to recognize lease contracts
- Calculate the appropriate lease term for accounting and financial reporting purposes
- Identify the appropriate accounting and financial reporting for government lessees and government lessors
- Determine when a lease remeasurement, modification, or termination is required
- Member Price: $85.00
- Non-member Price: $170.00