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AICPA Governmental & Not-for-Profit Training Program 2020

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

Oct 20, 2020 10:00am ‐ Oct 20, 2020 10:50am

Standard: $49.00


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.


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