Higher Education Transition Guide: 12 Steps to Help You Comply with Confidence
As a college or university, your organization may already have an idea as to the volume of leases, as well as the span of the departments and locations involved.
This step-by-step guide will walk you through the process of adopting ASC 842 and/or GASB 87 – including ensuring compliance with the legacy accounting standards and help you avoid potential pitfalls along the way.
ASC 842 and GASB 87 represent the first change to lease accounting regulations in decades.
The FASB and GASB have warned that the implementation is more challenging than expected, and the balance sheet disruption caused by the increase in lease liabilities alone is proof.
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