GASB Leases – What You Need to Know
The GASB recently issued a new standard on lease accounting. The goal of the new standard is to more closely align the accounting and financial reporting of leases with their economic substance. This guidance will treat all leases as “financing leases” and eliminate the difference between capital and operating leases. The standard will be effective for fiscal years beginning after December 15, 2019, but will be important in considering new and renewed leases in the coming months and years. This course will describe the pertinent details of the new standard and the effects of implementation.
Participants will be able to:
- Describe the impact of the new lease standard (GASB 87) on financial accounting and reporting
- Recognize how existing leases will be transitioned under the standard
- Melisa Galasso, CPA, Director, Audit Professional Practices | Cherry Bekaert LLP
A Certified Public Accountant with nearly 15 years of experience, Melisa Galasso is an Audit Professional Practices Director at Cherry Bekaert LLP. In this role, she assists with technical issues and quality control of the Firm’s assurance services practice. She monitors regulatory bodies including the Financial Accounting Standards Board (FASB), Government Accounting Standards Board (GASB) and American Institute of Certified Public Accountants (AICPA) for changes in auditing and accounting guidance and assists the Firm in implementing the updated guidance.
- Mary Charles, Assurance Services | Cherry Bekaert LLP
An Audit Manager in our Tampa practice, Mary has over six years of accounting and auditing experience. Mary has extensive experience working with not-for-profit organizations, privately held businesses and local governmental agencies. She also has experience with federal and state compliance audits and single audits of federal and state grantees. Mary has performed all phases of financial audits, including engagement planning, performance of audit testing, supervision of other staff and report writing. Additionally, over the past two years, Mary has been involved in the transition of ten new clients to the Firm.
Prerequisites | None
Advanced Preparation | None
Hours of CPE | 1 Hour*
Delivery Method | Webinar
Program Level | Basic
CPE Category | Accounting (Governmental)
*Cherry Bekaert is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website. | www.learningmarket.org
Cherry Bekaert Continuing Professional Education: Statement of Administrative Policies
Complaint Resolution Policy
Cherry Bekaert will make every effort to provide the best training courses possible. In the event participants are not completely satisfied with the training course and wish to file a complaint, please contact Karen McManus at email@example.com or 804.673.5748 within 10 business days of the event. Information about the course such as date, location, instructor and nature of complaint must be provided. Complaints may also be made in writing to Cherry Bekaert LLP, 200 South 10th Street, Suite 900, Richmond, VA 23219, ATTN: Karen McManus
Record Retention Policy
Cherry Bekaert will retain all Continuing Professional Education (CPE) documents for five years from training course date. These records will include:
- Course outline
- Course content and handouts
- Sign in sheets
- Dates and locations of training courses
- Instructor credentials
- Course evaluations
- CPE certificates stating amount of recommended CPE credit
Refund and Cancellation Policy
Cherry Bekaert reserves the right to cancel or reschedule any training courses up to 10 business days prior to the date of the event. Full refunds will be provided to registered course participants if the course is canceled or if participants are unable to attend the rescheduled event.
Participants who must cancel their course registration 10 or more business days in advance of the event must contact Karen McManus to receive a full refund of all fees paid. Participants who must cancel their registration within 10 business days of the event, will not receive a refund.