Unless otherwise specified, pronouncements of the GASB apply to financial reports of all state and local governmental entities, including general purpose governments; public benefit …

GASB Statement No. 87, Leases Copyright © 2025 by Financial Accounting Foundation. All rights reserved. Certain portions may include material copyrighted by American Institute of Certified …

Jun 15, 2021 · Status of Statement No. 87 Statement No. 87 Leases Issued: June 2017 Effective Date: For fiscal years beginning after June 15, 2021, and all reporting periods thereafter …

Governmental Accounting Standards Series Statement No. 87 of the Governmental Accounting Standards Board

Paragraph 12 of Statement 87 requires that periods for which both the lessee and the lessor have an option to terminate the lease without permission from the other party be excluded from the …

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Aug 15, 2019 · The guidance is applicable to all state and local governments that follow GAAP when preparing their financial statements. Implementation Guide 2019-3 is available for …

The requirements related to the effective date of Statement 87 and Implementation Guide 2019-3, reinsurance recoveries, and terminology used to refer to derivative instruments are effective …

Paragraph 40 of Statement 87 indicates that a lease receivable and a deferred inflow of resources are recognized at the commencement of the lease term. Therefore, neither a lease receivable …

6 days ago · The GASB establishes accounting and financial reporting standards for U.S. state and local governments that follow generally accepted accounting principles (GAAP).