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Course Description

GASB 87 addresses the recognition, measurement, and disclosure of leases for state and local governments, and establishes a single model for lease accounting based on the principle that leases are financings of the right to use an underlying asset.

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 webinar 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. In this live webinar, LeaseQuery’s lease accounting experts will cover : 

  • A walk through a comprehensive example of the new governmental lease standard in action
  • A broad understanding of the new guidance
  • Knowledge of key terms in new standard

Successful implementation of the standard comes down to the proper application of the concepts.  This end-to-end example will begin with lease commencement and walk through subsequent journal entries for both lessees and lessors.

Learning objectives

  • To learn how to apply lease accounting concepts (e.g. key dates, renewal options, discount rates) to a specific lease example.
  • To understand the impact of payment components within a lease contract
  • To Calculate lease assets, liabilities, revenue (interest) and expense (interest, depreciation/amortization) for lessees and lessors
  • To learn how to Book initial and subsequent journal entries for both lessees and lessors under GASB 87 requirements

About Presenter

Jason Parker

Technical Accounting Manager, LeaseQuery, LLC

jason.parker@leasequery.com

Jason Parker is  Technical Accounting Manager at LeaseQuery with a demonstrated history of working in the accounting field. Multiple years of audit experience, in addition to my current role, has allowed me to develop skills in communication, teamwork, leadership, in addition to GAAP and IFRS technical accounting topics. Strong accounting professional with a Master’s Degree [Audit focus] and BBA in Accounting from The University of Georgia. 

Founded by a fellow CPA, LeaseQuery provides lease accounting and lease management software that helps companies comply with lease accounting under current GAAP (Topic 840) as well as transition to the new lease accounting rules under Topic 842 and IFRS 16. Companies use LeaseQuery to provide monthly journal entries (including transition entries) for both capital and operating leases, provide newly required lease accounting disclosures under Topic 842 and IFRS 16, calculate straight-line amortization of rent and TI allowances, and provide commitment disclosure reports required in the notes and the MD&A. The software works for all types of leases; real estate, vehicles and equipment. It also handles cost centre/segment reporting and multi-currency functionality with transactional, functional and reporting currencies.

We help accountants eliminate lease accounting errors that could lead to material misstatements through our proprietary implementation process that ensures compliance with minimum disruption to your business. Our team is comprised of accountants specialized in lease accounting who will be with you every step of the way to achieve compliance.

LeaseQuery is built by accountants for accountants.

About Co-Presenter

Kiley Arnold, CPA

Accounting Manager,LeaseQuery, LLC

kiley.arnold@leasequery.com

Kiley Arnold is an Accounting Manager at LeaseQuery. She started her career as an auditor at Arthur Andersen and became a CPA certified in the state of Georgia. From there, she moved into a Senior Accountant role and later served as an Assistant Controller in companies across multiple industries including healthcare, transportation, media, and manufacturing. In her most recent role, Kiley led the IFRS 16 implementation team for a global manufacturing company. Kiley holds a Bachelor's degree in Accounting from Oglethorpe University. 

Founded by a fellow CPA, LeaseQuery provides lease accounting and lease management software that helps companies comply with lease accounting under current GAAP (Topic 840) as well as transition to the new lease accounting rules under Topic 842 and IFRS 16. Companies use LeaseQuery to provide monthly journal entries (including transition entries) for both capital and operating leases, provide newly required lease accounting disclosures under Topic 842 and IFRS 16, calculate straight-line amortization of rent and TI allowances, and provide commitment disclosure reports required in the notes and the MD&A. The software works for all types of leases; real estate, vehicles and equipment. It also handles cost centre/segment reporting and multi-currency functionality with transactional, functional and reporting currencies.

We help accountants eliminate lease accounting errors that could lead to material misstatements through our proprietary implementation process that ensures compliance with minimum disruption to your business. Our team is comprised of accountants specialized in lease accounting who will be with you every step of the way to achieve compliance.

LeaseQuery is built by accountants for accountants.

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

Reviews

4.4
(158)
55%
37%
7%
1%
1%
  • NB
    Nancy Borland , CPA
    Mar 26th 2020
    Excellent webinar
JH
JIlleen Hays , CPA
Thank you
KB
Karyn Blaise , CPA
Very informative
PB
Patricia Buckley
This is my first webinar for GASB 87 so the information was informative and now I need to find a webinar for the first part.
RY
Ronda Yost
The audio would cut in and out at times for Kiley.
LJ
Larry Johnson , CPA
I Thought the Webinar was great

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MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

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  • Cost FREE
  • CPE Credits 1
  • Subject Area Accounting (Governmental)
  • Course Level Basic
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Finance Pros Bookkeeper Accountant CFO/Controller CPA - Small Firm CPA - Mid Size Firm Accounting Firm CPA (Industry) Young CPA Entrepreneurial CPA Accounting Practice Owners Finance Director Senior Accountant Accounts Director VP Finance Chief Accounting Officer Entrepreneurial Accountant Accounting Managers
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upcoming Live CPE Webinars

Basis Calculations for Partners & LLC Members
Wednesday, April 01, 2020 | 10:30 AM EDT View Details/Register
HANDLE IRS AUDIT, APPEALS, COLLECTION & LITIGATION (LATEST 2019)
Wednesday, April 01, 2020 | 10:30 AM EDT View Details/Register
Annuity Basics with 2020 updates
Wednesday, April 01, 2020 | 12:00 PM EDT View Details/Register
SEC Enforcement of Accounting and Reporting Regulation
Wednesday, April 01, 2020 | 01:00 PM EDT View Details/Register
Time Management in “The Cloud” Using Gmail/Google
Wednesday, April 01, 2020 | 01:00 PM EDT View Details/Register
10 Secrets the Credit Card Processing Industry Doesn't Want You to Know
Wednesday, April 01, 2020 | 02:00 PM EDT View Details/Register
Fiduciary Income Tax Refresher and Latest Update 2020
Wednesday, April 01, 2020 | 02:30 PM EDT View Details/Register
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Wednesday, April 01, 2020 | 03:00 PM EDT View Details/Register
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Wednesday, April 01, 2020 | 04:00 PM EDT View Details/Register
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Thursday, April 02, 2020 | 10:30 AM EDT View Details/Register
Form W-4 and Other Payroll and Form 1099 Updates
Thursday, April 02, 2020 | 01:00 PM EDT View Details/Register
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Thursday, April 02, 2020 | 02:00 PM EDT View Details/Register
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Thursday, April 02, 2020 | 02:30 PM EDT View Details/Register
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Thursday, April 02, 2020 | 03:00 PM EDT View Details/Register
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