Basic Accounting and Financial Reporting for Leases 2022 | Government Finance Officers Association of the United States and Canada | 4 May 2022 | Webinar

This seminar will focus on the basic accounting and financial reporting for leases under Governmental Accounting Standards Board (GASB) Statement No. 87, Leases. It is designed to provide participants with a solid working knowledge of the accounting for contracts that convey control of the right to use the service capacity of another entity’s nonfinancial asset(s), and ways in which to identify key contract provisions, including the lease term and the discount rate.

Who Will Benefit: Those responsible for the oversight, accounting, and financial reporting for government contracts.

Learning Objectives:
• Those who successfully complete this seminar should be able to:
• Determine which contracts must follow the new lease guidance
• Identify the elements of financial statements that are used to recognize lease contracts
• Calculate the appropriate lease term for accounting and financial reporting purposes
• Identify the appropriate accounting and financial reporting for government lessees and government lessors
• Determine when a lease remeasurement, modification, or termination is required

2022 Speakers

Todd Buikema
Assistant Director for Publications, Technical Services

Peg Hartnett
Assistant Director for Training, Technical Services