GASB 87 Lease accounting standard handbook

Get ahead of the GASB 87 lease accounting deadlines with the right approach.

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What is GASB 87?

GASB 87 replaces operating and capital lease categories with a single model for lease accounting based on the concept that leases are a means to finance the right to use an asset. Under the new rules, a lessee recognizes a lease liability and an intangible asset while the lessor recognizes a lease receivable and a deferred inflow of resources. However, in order to properly implement this standard, there are some key definitions and concepts to understand first.

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