LEASE ACCOUNTING: ASC 842 AND GASB 87 IMPLEMENTATION GUIDANCE
For entities that have not yet adopted the guidance from FASB ASC 842, Leases, it is effective for reporting periods beginning after December 15, 2021.
For entities subject to GASB 87, the standard is effective for reporting periods beginning after June 15, 2021.
Download our lease accounting guide to get a better understanding of different lease types, clear instruction on identifying and classifying leases, and step-by-step instructions on how to adopt the applicable lease guidance.
Updated: November 2021