The Governmental Accounting Standards Board has released questions and answers about the recent standard on accounting and financial reporting for leases by state and local governments. Processing ...

The Governmental Accounting Standards Board posted a proposed implementation guide Thursday for its new standards on accounting and financial reporting for leases, with a set of questions and answers ...

GASB 87, new guidance for the accounting of lessee and lessor leases, was implemented for fiscal year 2022. Thank you to all departments who provided assistance and information in the implementation ...

GASB 87, a new lease accounting standard for governmental entities, requires leases to be reported on the face of the financial statements and eliminates distinction between operating and capital ...