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GASB 87: Accounting for Lease Modifications

GASB 87: ACCOUNTING FOR LEASE MODIFICATIONS

Cost Free
Presentation Length 1.0 hour

Recorded DateMay 12, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Course LevelBasic
Course Description

In this live event, LeaseQuery’s lease accounting experts will describe what triggers a lease modification and how to account for them under the new governmental lease standard, GASB 87. The second half of this presentation will include a comprehensive example of a lease modification within the framework of GASB 87. This example will begin with an explanation of what triggers a lease modification and walk through the adjusting journal entries required for both lessees and lessors.
 
Learning Objectives:


  • Understand the correct accounting considerations and treatment for modifications under GASB 87

  • Identify practical examples of lease modifications and when/how to apply them correctly

  • Understand how to prepare the adjusting calculations for lease modifications when they occur

  • Understand how to prepare the adjusting journal entries for lease modifications for both lessees and lessors

Not logged
PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
Linkedin

Rachel Reed

FinQuery
Technical Accounting Manager
rachel.reed@leasequery.com
(800) 880-7270

Finquerylogo

Rachel Reed is a Technical Accounting Manager at LeaseQuery. Rachel's experience includes working in the audit practice at EY, where she served clients across various industries in both the public and private sectors. Rachel graduated from the University of Mississippi (Ole Miss) with a Bachelor's degree and a Master's degree in Accounting. 

Linkedin

Abdi Ali

FinQuery
Accounting Manager
abdi.ali@leasequery.com
(800) 880-7270

Finquerylogo

Abdi Ali is a Technical Accounting Manager at LeaseQuery. Prior to joining LeaseQuery, he began his career as an audit intern at Grant Thornton LLP and soon after joined full time as an audit associate. While at Grant Thornton, he assisted in the audits of various privately-held entities. Ali also has experience as a Corporate Accountant from positions he held after his time at Grant Thornton. Abdi earned a bachelor’s degree in Accounting followed by a master’s degree in Professional Accountancy from Georgia State University’s Robinson College of Business.

About Our Presenter

Finquerylogo
FinQuery, formerly LeaseQuery, empowers 36,000+ professionals to optimize decisions in their top spending areas—leases, software subscriptions, and financial contracts—setting them apart in the market. Their award-winning AI-driven software minimizes risk, boosts efficiency, and cuts costs. Explore FinQuery’s Platform for contract and spend intelligence, including solutions for contract management, specialized accounting ensuring compliance with ASC 842, IFRS 16, GASB 87 and GASB 96, and software management.