Proposed Future Changes to Operating Leases

The Governmental Accounting Standards Board (GASB) issued a proposal last month that may change the way state and local governments report operating leases. The proposal is based on the concept that leases are a method of financing that gives governments the right to use an underlying asset. Even though there currently are disclosures in the …

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Straight-line expense recognition of leases

Update: The guidance below will be superseded upon the new lease accounting standard becoming effective for most private companies in 2020. For further information on the upcoming changes to lease accounting, click here. Sometimes operating leases aren’t as straightforward as they seem to be and there are a couple of situations that create a deferred …

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