Governmental Accounting and Auditing Update: Building on the Leases Framework

Author: Eric S. Berman

The framework for analyzing contracts in accordance with GASB Statement No. 87, Leases was just the start. Hear how GASB Statement No. 94, Public-Private and Public-Public Partnerships and Availability Payment Arrangements (P3’s) and GASB Statement No. 96, Subscription-Based Information Technology Arrangements(SBITAs) build on the framework. Also hear the changes made by GASB Statement No. 99 Omnibus 2022.

Publication Date: September 2022

Designed For
Preparers of state and local government annual financial reports.

Topics Covered

• Basic provisions of GASB-94 and how some agreements may need to be recognized as leases
• Basic provisions of GASB-96 and how some agreements may need to be recognized as leases
• Basic provisions of GASB-99 that change GASB-87, 94 and 96
• Recognition and measurement provisions for GASB-94 and 96
• Presentation and disclosure
• Implementation provisions

Learning Objectives

• Identify the basics of GASB-94, 96 and 99
• Recognize the differences in recognition and measurement of P3's and SBITAs
• Recognize how to have a plan to implement the standards
• Identify the GASB standard that addresses Public-Private and Public-Public Partnerships and Availability Payment Arrangements
• Identify an example of an exchange transaction
• Identify the GASB standard that prescribes guidance relating to subscription-based information technology arrangements
• Identify an activity that is included in the preliminary project stage

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Accounting (Governmental) (1 hour), Auditing (Governmental) (1 hour)

Program Prerequisites
Basic Knowledge of GAAP for state and local governments.

Advance Preparation
None