GFOA recently presented a series of two webinars on the topic of the Governmental Accounting Standards Board Statement No. 87, Leases (GASB 87). The second of the two sessions was built primarily around detailed examples of some of the more complex aspects of lease accounting. The process of developing the examples, which illustrate the calculations and journal entries that would be used to account for a variety of leases and circumstances, highlighted a few key points that are worth discussing.

• Journal Entry Examples: Leases