With GASB 87 lease accounting now effective for fiscal years beginning after June 15, 2021, this transition is proving very time and resource intensive for many governmental organizations as the need to ensure accuracy and completeness of reporting as well as greater transparency of financial statements are key to compliance. Whether you have opted to extend the use of existing spreadsheets, or are using a separate software approach to meet the new requirements, you may have underestimated the preparation and manual effort involved as well as the level of data integrity and verification required for audit purposes.
In this 40-minute MRI hosted webinar, we explored:
- The challenges and nuances within the GASB 87 standard for government entities
- The importance of obtaining complete and accurate lease data to calculate your lease accounting figures and ensure a full audit trail
- Best practices and the lessons learned from MRI’s 500+ successful lease accounting implementations
- The value of technology and professional services for GASB 87 implementation