GASB issues lease accounting implementation guide

August 15, 2019

Published: Journal of Accountancy

GASB issued an implementation guide Thursday that contains questions and answers about the board’s new lease accounting standard for state and local governments.

Implementation Guide No. 2019-3Leases, provides guidance for preparers on how to apply the rules in GASB Statement No. 87, Leases, including:

– Scope and applicability.

– Determining the term of a lease.

– Determining if a lease qualifies for the short-term lease exception.

– Recognition, measurement, and disclosure by lessees.

– Recognition, measurement, and disclosure by lessors.

– Accounting for contracts with multiple components and contract combinations.

– Accounting for modifications and terminations of leases.

– Sale-leasebacks, lease-leasebacks, and intra-entity leases.

The questions and answers in the guide constitute Category B authoritative guidance under GAAP.


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