A Call to Action: Implementing the New GASB Lease Standard - Part 1

The KPMG Government Institute, and partners and professionals of KPMG LLP (KPMG), invite you to join us for an in-depth, three-part webcast series discussing the requirements and implementation considerations for GASB Statement No. 87, Leases (GASB 87).

The first webcast to be held on Thursday, October 24, 2019, from 1:00 p.m. to 3:00 p.m. EDT, will provide the key changes in accounting for leases and the impact on the financial statements, including the definition of a lease, the scope and scope exclusions of GASB 87, and the key concepts and terms applicable to lessees and lessors under the new standard.

GASB 87 addresses the recognition, measurement, and disclosure of leases for state and local governments, and establishes a single model for lease accounting based on the principle that leases are financings of the right to use an underlying asset. The requirements of GASB 87 will be effective for fiscal years beginning on or after December 15, 2019.