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Question regarding Migration of leases

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in Lease Accounting 2 comments

Summary:

Our client is using the GASB financial reporting standards and also as an SLA. Now, GASB was implemented in the year 2020.

Amortization till 2020 is different and these leases were converted to GASB in the year 2020.

Could you please help us with the migration process for these types of leases where amortization amount is different before implementing GASB and after implementation of GASB.

Content (required):

Our client is using the GASB financial reporting standards and also as an SLA. Now, GASB was implemented in the year 2020.

Amortization till 2020 is different and these leases were converted to GASB in the year 2020.

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