This session builds on GASB Leases Part 1 by illustrating how to apply the concepts to real world leases. This is an application focused session to get you ready for implementation in 2020. Using examples, this session will highlight the nuances of the standard and how different contract terms can change the accounting.
• Recall accounting treatment under the leases guidance.
• Analyze contracts as leases.
• Calculate lease liabilities and assets.
• Identify potential implementation issues.