With an additional year to prepare for GASB 87 adoption, State and Local governmental entities are ready to begin the implementation of the New Leasing Standard, right?
Many entities are beginning the RFP process, but there is an underlying assumption to these RFPs: If you add the lease data into the end software, the software will do everything else. The problem is, this assumption is incorrect and extremely costly when auditors review the implementation approach.
While the adoption of GASB 87 and implementation of a leasing end software go hand in hand, they are complementary and not interchangeable. Entities need to know what a software can and cannot do before issuing an RFP, so that they can accurately estimate what it costs and the effort it will take to actually become compliant with the new standard. Governor Martin O’Malley, Grant Thornton, and Visual Lease are hosting this webcast to discuss what it takes to implement the standard and become GASB 87 compliant.
In this webcast we will cover the following learning objectives:
- What it takes to become GASB 87 compliant
- The role lease accounting software in the GASB 87 adoption process
- The impact of becoming and maintaining compliance with GASB 87
