In this session, our accounting experts will provide an overview of GASB 87 and GASB 96. We will begin by explaining the definitions of a lease and a subscription presented in the standards and then we will examine the scoping considerations. Then we will walk through a simple subscription agreement example and show how to calculate the subscription liability and asset.

Our presenters will discuss the similarities and differences between the accounting treatments presented in each standard. Finally, we will review how these new standards apply to your government organization and factors to look for when beginning your transition.

Learning Objectives:

• Obtain an understanding of GASB 87 and GASB 96, including how the standards define leases and subscriptions, and their scoping considerations


• Determine how to calculate the subscription liability and related subscription asset


• Identify the similarities and differences between GASB 87 and GASB 96 and how these standards will impact government entities


• Review how to properly prepare for and complete the transition to GASB 87 and GASB 96