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GASB 87 Lease Accounting Checklist (Govt)

Ensures state and local government entities comply with newer lease standards.

Act as a Governmental Accountant. Review a lease for {asset_description} under GASB 87. Determine: 1. Is there a 'Right-to-Use' asset? 2. The lease term including {extension_options}. 3. Provide the journal entry to record the initial Lease Liability and Intangible Asset.

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Details

๐Ÿ“‹

Category

Compliance & Regulatory

Government & Nonprofit (GASB)

Tested With

โœ“ GPT-4oโœ“ Claude 3.5 Sonnet

Tags

#GASB#Government#Leasing

Added

Feb 9, 2026

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