How to simplify GASB and FASB lease accounting for the Education sector

Were you, or are you, prepared for the new GASB 87/FASB ASC 842 audits? Many universities, colleges, and school districts have found the recent transition both time and resource intensive and struggled with the challenge of presenting accurate and complete reporting and transparent financial statements to achieve compliance. If you underestimated the preparation and manual effort involved, as well as the level of data integrity and verification required for audit purposes, MRI can help you simplify the process!

In this 45 minute MRI hosted webinar, we explored:

• The challenges and nuances of managing a lessee and lessor portfolio with inter-company leases
• Why and how properly classifying your leases for ASC 842 and GASB 87 reporting will meet audit requirements
• The importance of obtaining complete and accurate lease data for lease accounting calculations and ensuring a full audit trail
• Best practices and lessons learned from MRI’s 500+ successful lease accounting implementations
• The value of technology and professional services during implementation