GASB 87

Lease accounting is getting more complicated. In June 2017, the Governmental Accounting Standards Board issued statement no. 87. The GASB, wanting to increase the usefulness of financial information, is now requiring the recognition of all lease assets and liabilities over 12 months in length to now be recorded as liabilities and right-of-use assets. 

Original source: https://www.leasecrunch.com/blog/gasb-87

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