Governments enter into leases for many types of assets. This course is designed to help you understand the core components of governmental lease accounting under GASB No. 87, Leases. You will learn the important definitions involved, the key decision points involved in applying the standard, and how to think through those decision points.
Learning Objectives
- Skillfully prepare for the implementation of GASB No. 87
- Become comfortable with the application of GASB No. 87 in the governmental environment
Major Topics
- Evaluating whether a contract meets the definition of a lease
- Properly calculating the lease term
- Determinations to be made with regard to short-term leases
