Webinar replay

ASC 842 and GASB 87 - Practical Lease Accounting Examples

Tuesday 26 October 2021

2:00pm ET | 1:00pm CT | 11:00am PT | Duration: 60 minutes

1 CPE Credit

Learning objectives:

The FASB and GASB requirements of the expanded lease definition
Best practices in budgeting, planning, and staffing
Understanding key policy elections, practical expedients, and transition accounting strategies
How to take an inventory of your leases and locate required lease information
Software options for long-term, sustainable compliance, and how these systems will interact with general ledger, accounts payable, and fixed asset applications

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Real-world lessons for FASB and GASB

Lease accounting is a relatively new subject area for many financial leaders. The Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) lease accounting deadlines are coming closer, and many organizations are already feeling behind on their compliance preparation. Whether you have thousands of leases or only a few, you still need to go through the process of identifying, abstracting, classifying, properly accounting for and managing your leases throughout their terms.

In this workshop, leasing specialists from Whitley Penn and EZLease cover the important lease changes of ASC 842 and GASB 87 and walk-through detailed accounting examples for lessees and lessors. They also explain the lease data required, where to find the data and how to store it so you can achieve compliance before the deadlines and in the future. See how the right information and lease accounting tools can make compliance projects easier.