WEBINAR: Accounting for Leases Under GASB Statement No. 87

Building Success Webinar Series: A webinar series dedicated to building on the success of our team, clients and communities.

View Recording

Local governments reporting under generally accepted accounting principles adopted the Government Accounting Standards Board Statement No. 87 related to lease accounting for fiscal years ending June 30, 2022 and thereafter.

Herbein hosted a live webinar last February 23 that provided guidance on the implementation of new standard and implementation best practices.

The webinar walked through the aspects of the new standard and provided insight into how the standard could affect your upcoming year-end reporting. We reviewed the impact on the government-wide and proprietary fund statements of net position, as well as the required disclosures. Additionally, we provided available implementation tools to ease the burden on your organization.

After attending the webinar, the attendees: 

• Gained an understanding of the potential impacts related to the new standard
• Were able to prepare for evaluating current leases in place
• Understood the tools available to assist in implementation