What you need to know about GASB 87 & GASB 96

Are you GASB 87 & GASB 96 compliant?

With the introduction of the GASB 87 lease accounting standard, organizations must now recognize almost all contracts that are considered leases on the statement of net position within their annual fiscal statements.

In addition, the GASB 96 statement now provides accounting and financial reporting guidance for subscription-based information technology arrangements (SBITAs).

All governmental and public higher education organizations must be compliant with the GASB 96 standards for reporting periods beginning after June 15, 2022.

Planon provides a validated and audit-ready solution for lease accounting to support your organization achieve compliance with GASB 87, as well as GASB 96.

Fill out the form on the right to download our GASB Fact Sheet for tips on how to prepare your organization.