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GASB Statements 87 & 96: An Intro and Comparison

GASB STATEMENTS 87 & 96: AN INTRO AND COMPARISON

Cost Free
Presentation Length 1.0 hour

Recorded DateFebruary 21, 2023
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

In this session, our accounting experts will provide an overview of GASB 87 and GASB 96. We will begin by explaining the definitions of a lease and a subscription presented in the standards and then we will examine the scoping considerations. Then we will walk through a simple subscription agreement example and show how to calculate the subscription liability and asset.

Our presenters will discuss the similarities and differences between the accounting treatments presented in each standard. Finally, we will review how these new standards apply to your government organization and factors to look for when beginning your transition.

Learning Objectives:


  • Obtain an understanding of GASB 87 and GASB 96, including how the standards define leases and subscriptions, and their scoping considerations

  • Determine how to calculate the subscription liability and related subscription asset

  • Identify the similarities and differences between GASB 87 and GASB 96 and how these standards will impact government entities

  • Review how to properly prepare for and complete the transition to GASB 87 and GASB 96

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Jaron Moss, CPA

FinQuery
Lease Accounting Manager
jaron.moss@leasequery.com
(800) 880-7270

Finquerylogo

Jaron brings extensive auditing experience to his role as accounting manager at LeaseQuery. He has served as part of the audit staff at multiple accounting firms. He received his degree in accounting and business administration from Belmont Abbey College and is a licensed CPA.

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.