GASB 87: A Detailed Example of Applying the New Lease Accounting Standard
Successful implementation of the new GASB 87 standard comes down to proper application of the concepts. During this webinar, our Technical Accountants will walk through a comprehensive example of the new standard – from lease commencement through subsequent journal entries for both lessees and lessors.
Recent Blogs
Lease Data for Accounting: How and What to Collect
Accurate and complete lease data is essential for several reasons. Firstly, it ensures compliance with lease accounting standards such as ASC 842, IFRS 16, and GASB 87. Secondly, lease data significantly impacts financial statements and key metrics, influencing a...
GASB 96 Explained: Accounting for Subscription-Based IT Arrangements with Calculations and a Full Example
1. Scope SBITA defined Exemptions 2. Recognition and measurement of a SBITA Subscription liability Subscription asset Outlays other than subscription payments Disclosure requirements 3. SBITA accounting example Terms Additional costs evaluation Calculation of...
GASB 87 Explained with a Full Example of the New Governmental Lease Accounting Standards
1. What is GASB 87? 2. GASB 87 vs. prior GASB guidance: Key differences GASB 87 lease classification What is considered a lease under GASB 87? 3. Key differences: GASB vs. FASB 4. Lessee vs. lessor accounting under GASB 87 5. Example: Accounting for a lease under GASB...
