CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

GASB 87: Accounting for Lease Modifications - Latest 2020

4.5 (208)

Abdi Ali

LeaseQuery, LLC

Tuesday, May 19, 2020 | 01:00 PM EDT

  • CPA

1 Credit

FREE

Subject Area

Accounting (Govt.)

Webinar Qualifies For

1 CPE credit of Accounting (Governmental) for all CPAs

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

employment law in a nutshell – guidance for your business

(1)

Jun 18, 2021 | 09:00 AM EDT View Details

irs tax practice & procedure introduction

Jun 18, 2021 | 09:30 AM EDT View Details

differences between ifrs and gaap

(4)

Jun 18, 2021 | 09:30 AM EDT View Details

addressing single audit quality in a covid-19 era

Jun 18, 2021 | 09:30 AM EDT View Details

advance irs learning: multiyear non-filing, criminal investigation, voluntary disclosure, whistleblower claims etc.

(2)

Jun 18, 2021 | 10:00 AM EDT View Details

tax strategies for real estate: crucial insights: acquisition and depreciation strategies

(5)

Jun 18, 2021 | 10:00 AM EDT View Details

keys to maintaining an effective and strong internal audit department

(1)

Jun 18, 2021 | 10:00 AM EDT View Details

best tax return workshop on s corporation (1120s) - latest

(3)

Jun 18, 2021 | 10:00 AM EDT View Details

are you creating legal liability when you hire or recruit online? - covid -19 special

(37)

Jun 18, 2021 | 10:00 AM EDT View Details

annual federal tax update - c & s corporations, partnerships & llcs (forms 1120, 1120s & 1065)

Jun 18, 2021 | 10:00 AM EDT View Details

yellow book boot camp - nfp and governmental accounting & auditing update

(1)

Jun 18, 2021 | 10:00 AM EDT View Details

partnership preparation, basis calculations & distributions–form 1065 schedule k & k-1 analysis

Jun 18, 2021 | 08:00 AM PDT View Details

comprehensive tax strategies & insights on real estate

(3)

Jun 18, 2021 | 08:00 AM PDT View Details

internal controls for businesses

(2)

Jun 18, 2021 | 08:00 AM PDT View Details

maximizing home office deduction (covid special - latest)

(7)

Jun 18, 2021 | 11:30 AM EDT View Details

Course Description

Government leases has been overhauled. GASB Statement 87 was issued in 2017 and provides an update on the proper accounting for leases from both the lessee and lessor point of view. In this FREE CPE webinar, LeaseQuery’s lease accounting experts will describe what triggers a lease modification and how to account for them under the new governmental lease standard, GASB 87.

The second half of this presentation will include comprehensive coverage with an example of a lease modification within the framework as per GASB 87. This example will begin with an explanation of what triggers a lease modification and walk through the adjusting journal entries required for both lessees and lessors. An example would be a real-world case study and would cover all the scenarios. We shall also review the updated definition of a lease as well as other significant changes to terminology and current practice that entities and auditor's will need to consider to properly implement the new standard

The webinar will cover:

  • What event triggers lease modifications
  • Accounting treatment and related considerations for leade modifications
  • Example/Case Study of lease modification with adjust journal entries of each case.
  • Preparing to adjust calculations of lease modifications.

Learning Objectives

  • To recall the correct accounting considerations and treatment for modifications under GASB 87
  • Identify practical examples of lease modifications and when/how to apply them correctly
  • To identify how to prepare the adjusting calculations for lease modifications when they occur
  • To identify how to prepare the adjusting journal entries for lease modifications for both lessees and lessors

Who Should Attend?

  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Auditors
  • Cloud Firms
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Finance Director
  • Finance Pros
  • Government Contractor
  • Information Reporting Officers
  • Legal Professionals
  • Tax Attorney
  • Tax Firm
  • Young CPA

Testimonial

Array
(
    [no_of_record] => 208
    [average] => 4.4856
)
 

4.5

(208)
59%
32%
8%
0%
0%

CED

Mr.Abdi did a really great job and provided us with case studies on the lease modifications which helped me be engaged in webinar. He made the topic seem very interesting for the listeners."

SA

Valuable information shared by Abdi & Rachel. Very new to this information but they explained it in a very simplified and easy manner.

VS

Abdi did an incredible job of tackling such a complex topic of GASB in such a short period of time. It is definitely a course worthy of the 1 hour investment of your time. Regardless of your title or level in your organization, I would encourage everyone to attend to this course and take it to heart. Exceptionally well done!

CED

The information provided by Mr.Ali was very insightful. The case Study of lease modification which he discussed in this webinar helped me better understand of the topic.

KK

I actually do not have to perform lease modifications in my present position, however, the presentation was informatitive.