GASB Issues Proposed Implementation Guide
March 1, 2019
The GASB has issued a proposed implementation guide, Leases, which contains Q&As related to GASB Statement 87.
Topics addressed in the proposed guide’s Q&As include:
- Scope and applicability of Statement 87.
- Lease term.
- Short-term leases.
- Contracts that transfer ownership.
- Lessee recognition and measurement for leases other than short-term leases and contracts that transfer ownership.
- Notes to financial statements — lessees.
- Lessor recognition and measurement for leases other than short-term leases and contracts that transfer ownership.
- Notes to financial statements — lessors.
- Lease incentives. Contracts with multiple components.
- Contract combinations. Lease modifications and terminations.
- Sale-leaseback transactions.
- Lease-leaseback transactions.
- Intra-entity leases.
Comments on the proposed implementation guide are due by April 30, 2019. For more information, see the press release and the proposed guide on the GASB’s Web site.