- NY Credits : 1.0
- TX Credits : 1.0
The GASB's overall objective in examining the lease guidance was to look at what was going on with the FASB and how they were handling lease accounting. Jennifer Louis will first discuss why the GASB decided to create a single leasing model by looking at issues from the lessee's perspective. She will then take a look at how the GASB provided clarity on how it is that they want the lessees and lessors to treat each of those different transactions to be more convergent with FASB. Jennifer will close the program by discussing some of the difference that remains between GASB and FASB lease accounting.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
recognize why the GASB released Statement 87 and the effects it will have upon lease accounting,
identify when GASB 87 was released and the different elements within the guidance, and
recognize the guidance that discusses the analysis of a governmental entity's ability to continue as a going concern.