Quad Cities Finance Lunch Crunch - Impact of GASB Statement No. 87, Leases

Presented by the Downstate chapter

Downstate chapter

Wednesday, June 27, 2018, 11:45 AM–1:00 PM

Johnny's Italian Steakhouse, 1300 River Drive, Moline, IL Map »

  • Members $20.00 Before Jun 27, 2018
  • Government staff members $20.00 Before Jun 27, 2018
  • Non-members $25.00 Before Jun 27, 2018

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Description

Quad Cities Finance Lunch Crunch - Impact of GASB Statement No. 87, Leases

In June of 2017, the Govermental Accounting Standards Board (GASB) issued Statement No. 87, Leases to improve accounting and financial reporting for leases by governments. The guidance in this Statement is based on the principal that leases are financings in which a lessee receives the right to use an underlying asset, and in exchange, promises to make payments over the time for the right to use that underlying asset. On the other hand, a lessor receives payments over time for transferring the right to the underlying asset to the lessee. The requirements of this Statement are effective for reporting periods beginning after December 15, 2019 with earlier application encouraged. This session will look at the various requirements under the new lease standard and its impact on governments’ financial accounting and reporting.  Earn about 1.0 hours CPE credit

Speaker: Brent Lake, CPA, Manager, Sikich, LLP

Learning Objectives:  Participants completing this session will be able to:  
- Define what a lease is under the new standard
- Understand the impact the new lease standard will have on governments’ financial accounting and reporting
- Understand how governments’ existing leases will be handled under the new standard

Delivery method:               Group-Live 
Program Level:                    Overview
Prerequisites:                       No prerequisites required 
Advanced Preparation:    No advanced preparation required 
Field of Study:                     Accounting (Governmental) - Technical
CPE Credit:                            Earn about 1.0 hours CPE credit

Menu Selections (Select one and enter in the "Special Notes" section of the registration form)

1. Harvest Salad - Frenched chicken breast, spring mix, candied pecans, sliced apples, goat cheese crumbles, dried cranberries, honey cider vinaigrette

2. Teriyaki Salmon - Petite fillet of Atlantic salmon, char-broiled teriyaki style, served with broccolini

3. Johnny’s Steakhouse Burger - Cheddar cheese, bacon, fried onion strings and house-made steak sauce

4. Crispy Crab Cake Burger - Johnny’s homemade lump crab cake topped with julienne lettuce and tomato and our own remoulade sauce, piled high on a toasted brioche bun (served with chips, garlic fries or coleslaw)

5. The Johnny - Grilled chicken breast and sliced tomato topped with Johnny’s own Caesar salad and crisp prosciutto on grilled sourdough. This sandwich is worthy of the namesake (served with chips, garlic fries or coleslaw)

CPE hours: 1.00

For more information

Gloria Osborn
gosborn@ci.galesburg.il.us

Registration and cancellation policy

Registrations are accepted on a first-in, first registered basis. Payments by check should be mailed in advance or made at time of registration by credit card. Payments will not be accepted the day of the event.

IGFOA Members are those Public Sector and Associate individuals specifically listed in the IGFOA Membership Application or Renewal. IGFOA Government non-member rate applies to staff, appointed officials, and elected officials of a government with a current IGFOA membership.  The IGFOA reserves the right to apply the non-member fee to any individual or government that has not paid dues for the current year.  If you have questions about your membership, contact IGFOA at 630-942-6587.

If you are unable to attend, please contact IGFOA at 630-942-6587 or info@igfoa.org as soon as possible.  A $20 cancellation fee will be charged for cancellations up to June 20, 2018. Cancellations after June 20, 2018 and no-shows are responsible for the full fee.

IGFOA reserves the right to modify the agenda, cancel the event due to low enrollment, or to close registration if full. Should IGFOA Downstate Chapter cancel an event, cancellation notice will be sent to the email address provided by each registrant and prominently posted at the IGFOA website page announcing the event. By submitting this registration, the applicant agrees to the registration and cancellation policy above.

Approved by the National Registry of CPE Sponsors

CPE RegistryIllinois Government Finance Officers Association is registered with the National Association of State Boards of Accountanc (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.nasbaregistry.org.

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