PPT-GASB 87: At its least, its Lessee, Lessor and More

Author : tatyana-admore | Published Date : 2019-12-05

GASB 87 At its least its Lessee Lessor and More What we will cover Discuss an overview of the single model for recording leases capitalization Discuss lessor considerations

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GASB 87: At its least, its Lessee, Lessor and More: Transcript

GASB 87 At its least its Lessee Lessor and More What we will cover Discuss an overview of the single model for recording leases capitalization Discuss lessor considerations Analyze the importance of creating a lease inventory. Presented by. Donna Denker, CPA. Donna Denker & Associates. Discussion:. 1.) Brief description of fund balance reporting prior to GASB 54. 2.) Outline of the new requirements. 3.) Effective Date. . March 8, 2011. Jody . Grewal. , . Kieng. Iv,. Lisa Ryerson, May Leung. AGENDA. Lessee (Classification, Accounting, Disclosures). Lessor. (Classification, Accounting, Disclosures). Sales and Leaseback. What does this statement mean?. Who are we?. NARO was founded in 1980. Due to Windfall Profits Tax. We have grown into an educational/advocacy organization. NARO has two “parts”. The Association a 501 c (6). presented by . David LaRosa . . 1. Financial Statement User Complaints. Common owner establishes entities for tax, estate planning, legal-liability purposes-not to structure off-balance-sheet debt arrangements. Agenda. Provide a brief overview of GASB Statement No. 54 “Fund Balance Reporting and Governmental Fund Type Definitions”. Governmental Fund Types. Fund Balance Categories. Discuss Implementation in Iowa School Districts. The subject of leasing falls in the category of finance.. Leasing has grown as a big industry in USA and UK and spread to other countries in the present century.. In India, the concept was pioneered in 1973.. Ethics for Government. May 10, 2017. Presented by Eric Berman . Hosted . by . State . of Maine . Department of Administrative and Financial Services . Office of the State Controller . Governmental Update. Sheralin Klinthong, Associate Director SFSR, CO. Liezl Sangalang, Senior Audit Manager, KPMG LLP. Karla Farrington-Weddle, KPMG LLP. Learning Objectives . Assess the financial statement impact of GASB No. 68 to CSU . A new lessee may be added by . either:. A . PE Administrator . or. A . new lessee. Welcome. Welcome!. To the . ETS – Add Lessee. Online Training Course. Revisions. Date. Revisions Type. Page Number. June 30, 2012. GASB Statement No. 64, Derivative Instruments: Application of Hedge Accounting Termination Provisions. Summary of GASB Updates. Effective Dates – Recently Issued GASB Standards. June 30, 2013. Presenters:. Shelley Johnson. Foster & Foster. System Actuary for LASERS and TRSL. Artie Fillastre. LASERS. Chief Financial Officer. . Afillastre@lasersonline.org. Charlene Wilson. TRSL. Chief Financial Office. LEARNING OBJECTIVES. Understand the basic concepts of lease accounting and identify. the . advantages and disadvantages of leasing.. Understand . lease contracts and determine how to separate. lease . October 2018 BAR. Sabra Sand and Grace Jimenez. Basis . GASB 68. covers all retirement plans through DRS. PERS 1,2 and 3. TRS 1,2, and 3. Measurement date is one year behind. GASB 73. covers TIAA-CREFF supplemental portion. Thursday, February 4. th. , 2021 . GASB Statement No. 87 Objectives. GASB 87 Defined. Why Change?. Why is the reporting for Leases Changing:. Currently, there are two separate types of leases. . ". Capital Leases" are those leases that meet certain criteria as set forth in FASB Statement No. 13. These leases are recorded on the financial statements as an asset (for the underlying item being leased) and a lease liability (for the remaining future lease payments). .

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