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Lease accounting for government entities (GASB 87)

In June 2017, the Government Accounting Standards Board (GASB) issued Statement No. 87, Leases. The changes required by these new rules will affect nearly all governmental entities and related GASB reporting organizations that operate as lessees, lessors, or both. GASB 87 will require a significant shift in how organizations account for leases for fiscal years beginning after June 15, 2021. 

To become compliant, state and local governments and related organizations will likely require system, administrative and organizational process enhancements to sustain compliance with the new standard.

How can we help you?

To discuss how our team can help your business, contact us by phone at 800.274.3978 or

RSM offers a comprehensive approach to adopting the new standard through a multiphased accounting and technology assessment followed by implementation of accounting policies, operational changes, lease abstraction and a supporting technology platform. Our solution is tailored specifically to align with the industry-specific needs of your organization and when necessary, applicable independence standards. 

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Lease Accounting Resource Center

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