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GASB 87, Leases

OnDemand Webinar (91 minutes)

Understand the new GASB 87 lease accounting requirements and how it differs from current GASB requirements.The new lease accounting requirements of GASB 87 will have a significant impact on the financial statements of virtually every government that is a party to a lease agreement. Preparers, users and auditors of governmental financial statements need to understand these requirements as the effort required for implementation will be very significant for most governments and should be planned for now. This topic will enable you to not only understand the scope of the new requirements, but also to be able to explain and interpret the new lease accounting information that will be provided in the financial statements.


Warren Ruppel, CPA, Marks Paneth LLP


Overview of the New GASB 87 Lease Accounting Requirements

• Major Differences With Current GASB Requirements

• How Do the Requirements Compare With the New FASB Lease Standard?

• Effective Date

How Does GASB 87 Define a Lease?

• Types of Agreements Within the Scope of GASB 87

• Types of Agreements Outside the Scope of GASB 87

Determining the Least Term

• Consideration of Lease Extension Options

• Consideration of Lease Termination Options

• Fiscal Funding Clauses

• Rules for Short Term Leases

Lease Accounting for Lessees

• Measurement and Recognition of Lease Liability

• Accounting for the Right to Use Asset

• Disclosure Requirements

Lease Accounting for Lessors

• Measurement and Recognition of a Lease Receivable

• Accounting for the Deferred Inflow of Resources

• Accounting for the Underlying Leased Asset

• Disclosure Requirements