'An Introduction to GASB 87 Lease Accounting' will provide an initial comparison between GASB 87 and the standards that previously governed lease accounting for state and local governments. The course will provide details on certain asset types and contracts that may be scoped out of the new standard requirements. The second-half of the presentation will cover an example of implementing the new lease guidance from the perspective of both a lessee and lessor. The examples will include amortization schedules and journal entries. Lastly, we will compare disclosure requirements under the legacy and GASB 87 guidance for both lessees and lessors.
Jason Parker is an Accounting Solutions Manager at LeaseQuery. Prior to joining LeaseQuery, Jason worked in the audit practice at KPMG, serving clients in both the public and private sectors in a wide array of industries. Jason obtained the "Double Dawg" status at the University of Georgia, receiving both a Bachelors’s degree and a Master’s degree in Accounting. He is an active Certified Public Accountant and a current member of the AICPA.
LeaseQuery helps more than 10,000 accountants and other finance professionals eliminate lease accounting errors through its CPA-approved lease accounting software. It is the first lease accounting software built by accountants for accountants. By providing specialized consulting services in addition to its software solution, LeaseQuery facilitates compliance with the most comprehensive regulatory reform in 40 years for companies across all sectors. For more information about LeaseQuery, visit LeaseQuery.com.