An Introduction to GASB 87 Lease Accounting
Our latest webinar includes a comparison between GASB 87 and the standards that previously governed lease accounting for state and local governments. The webinar also covers an example of how to implement the new lease guidance from the perspective of both a lessee and lessor, as well as asset types and contracts that may be scoped out of the new standard requirements. Lastly, disclosure requirements under the legacy and GASB 87 guidance will be compared 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...
