by Jason Parker | Sep 27, 2019
The new lease accounting standard for governmental organizations, GASB Statement No. 87, goes into effect for all reporting periods that begin subsequent to December 15, 2019. Just over a month ago, GASB released the final implementation guide to provide additional...
by Jason Parker | Aug 9, 2019
GASB 87 vs. the current guidance: Key differences Scope of the new GASB lease accounting standard Step-by-step GASB 87 example using Excel Calculate the initial lease liability Calculate the initial lease asset value Record the opening journal entry under GASB 87 Book...
by Jason Parker | Jun 14, 2019
Similar to the FASB and IASB, the Governmental Accounting Standards Board released guidance updating the accounting for lease agreements. GASB No. 87, Leases, is effective for applicable governmental entities for reporting periods that begin subsequent to December 15,...
by Jason Parker | Mar 14, 2019
The FASB just released an important update, ASU 2019-01, that simplifies the implementation process to ASC 842. The updates are based on learning from companies that have transitioned to the new standard. Here’s what you need to know: Issue 1: Determining the Fair...
