[CAFR-Contacts-News] GASB 87 - Leases Implementation Guide

[HAMILTON Robert W * DAS]

Hello CAFR Contacts,

To start, thank you all for your efforts to complete your accounting entries and submit your disclosures these last two weeks; we very much appreciate it. However, there is no rest for the weary, as GASB has issued the final Implementation Guide for GASB 87 Leases, which is effective July 1, 2020, and agencies will need to be ready to implement the standard by then. SARS continues to work through the implementation challenges with the implementation team, but in the meantime, I wanted to share a link to an article in the Journal of Accountancy on the GASB 87 Implementation Guide, which itself includes a link to the actual guide: https://www.journalofaccountancy.com/news/2019/aug/gasb-lease-accounting-implementation-guide-201921838.html?utm_source=mnl:cpald&utm_medium=email&utm_campaign=16Aug2019

For additional references:

FY 2019 SARS Year-end Training on Leases (starting on pdf page 32): https://www.oregon.gov/das/Financial/Acctng/Documents/2019%20Year-end%20Close%20Training.pdf

FY 2018 SARS Year-end Training on Leases (starting on pdf page 38): https://www.oregon.gov/das/Financial/Acctng/Documents/2018%20Year-end%20Close%20Training.pdf

Draft Lease Data Matrix: https://www.oregon.gov/das/Financial/Acctng/Documents/GASB%2087%20Lease%20Data%20matrix.xlsx

If you have any questions about GASB 87, please contact Stacey Chase at Stacey.A.Chase at oregon.gov<mailto:Stacey.A.Chase at oregon.gov> or 503-947-8567.

Thanks,

Rob

Robert W. Hamilton, CPA
Statewide Accounting and Reporting Services Manager
Chief Financial Office
Department of Administrative Services
Phone:  (503) 373-0299
http://www.oregon.gov/DAS/financial/acctng

Data Classification: Level 1 - Published

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