ASC 842 and GASB 87 – Lease Accounting Tutorial

Best practices for FASB and GASB sustainable compliance The Financial Accounting Standards Board (FASB) and Governmental Accounting Standards Board (GASB) lease accounting deadlines are quickly approaching, and 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. Leasing specialists from EZLease and Whitley Penn cover the important lease changes of ASC 842 and GASB 87 and walk through detailed accounting examples for lessees and lessors. We’ll 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. We’ll show you how the right information and lease accounting tools can make compliance projects easier. Learning objectives:

• Uncover the challenges of the latest lease accounting standards

• Understand the accounting for ASC 842 leases

• Understand the accounting for GASB 87 lessee and lessor leases

• Uncover who owns the leases and data and where leasing data lives

• Get practical steps to kickstart your compliance