Skip to main content
General Accounting Office Logo
  • Home
  • Publications
    • State of Arizona Accounting Manual (SAAM)
    • Technical Bulletins
    • Forms
    • All Agency Memoranda
    • CFO Meetings
  • AFIS
    • AFIS Information
    • Web Portal
    • Purchasing Cards
  • Payroll / RASL
    • Payroll Guide
    • RASL
  • Financials
    • AFR
    • CAFR
    • Single Audit
    • SWCAP
  • Travel
    • Travel Information
    • Travel Cards
  • Resources
    • Employment
    • Links
    • Tax Certificates
    • News
    • ICSA Surveys
    • Leases (GASB 87)
  • Systems
    • AFIS Production
    • APP
    • Openbooks
    • TraCorp
    • TRIRIGA Production
    • VenPay
    • YES
  • Training/Events
    • Training Registration
    • Training Resources
    • AFIS Training
    • Facilities Management Training (TRIRIGA)
  • Federal/Cost Accounting

Leases (GASB 87)

The Governmental Accounting Standards Board (GASB) Statement No. 87, Leases, establishes a single model for lease accounting based on the principle that leases are financings of the right to use an asset.  There is no longer an operating vs capital classification. Lessees will recognize a lease liability and an intangible right-to-use asset, and lessors will recognize a lease receivable and a deferred inflow of resources.

GASB 87 is effective for fiscal year 2022, and applies to leases of tangible capital assets—including buildings, land, and equipment. In addition, GASB has issued an exposure draft that would expand the requirements to subscription-based information technology arrangements.

 

IMPLEMENTING GASB 87

Coming Soon

 

GAO GUIDE & RESOURCES

Leases Introduction

GASB 87 Overview     -- CBT version is available in TraCorp under GASB87_GAO

Lease Accounting Decision Tree

GASB 87 Scope Guide

 

GASB LITERATURE & RESOURCES

GASB Statement No. 87, Leases

GASB Implementation Guide No. 2019-3, Leases

GASB Statement No. 96, Subscription-Based Information Technology Arrangements

GASB Statement No. 96, Postponement of the Effective Dates of Certain Authoritative Guidance

 

QUESTIONS

If you have questions or comments, please contact [email protected]

Resources

  • Employment
  • Links
  • Tax Certificates
  • News
  • ICSA Surveys
  • Leases (GASB 87)
Arizona State Seal
Contact Us
General Accounting Office
100 N. 15th Ave Suite 302
Phoenix AZ, 85007
Find in Google Maps
Phone: 602-542-5405
Map Image

Footer Utility

  • Statewide Policies
  • Site Map
  • Privacy Policy