Understanding GASB's New Standards on Leases and Fiduciary Activities

AGA National Webinar

Feb. 7 | 2–3:50 p.m. ET | 2 CPEs | FOS: MAS

Speakers:

  • Wesley Galloway, Senior Project Manager, GASB
  • Scott Reeser, CPA, Supervising Project Manager, GASB
  • David Vaudt, Chairman, GASB

This webinar will cover recently issued improvements to accounting and financial reporting standards related to leases and fiduciary activities. The session will not only cover the requirements of these standards, but also will provide insights into potential implementation issues. Statement No, 87, Leases, was approved by GASB in June 2017 and is effective for reporting periods beginning after Dec. 15, 2019.  Statement No. 84, Fiduciary Activities, was approved by GASB in January 2017 and is effective for reporting periods beginning after Dec. 15, 2018. These standards will have a profound effect on state and local governments. Due to the significance and complexity of leases and fiduciary activities, these standards cannot be implemented at the last minute. They will need careful planning, and the time to plan is now. 

The topics covered include:

  •  Identifying leases
  • Determining a lease term
  • Recognizing short-term leases and transfers of ownership
  • Recognizing, measuring, and disclosing leases from both a lessee and lessor perspective
  • Identifying fiduciary activities
  • Reporting fiduciary activities
  • Reporting fiduciary component units


Location:

AJC Federal Building - 1240 East 9th Street, Cleveland, OH 44199

DFAS Employees:  To reserve a seat for this webinar, please obtain your supervisor's approval and forward an email to Kathleen Alexander at kathleen.m.alexander12.civ@mail.mil.

 

Contact: Lou Ockunzzi
Email: programs@agacleveland.org

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