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New Lease Accounting Standards: GASB 87 and SFFAS 54

Government lease accounting transformation

New lease accounting standards for state/local governments and public higher education institutions regulated by GASB (GASB 87) and for the federal government (SFFAS 54).

Start early. Start now. The journey towards GASB 87 and SFFAS 54 compliance.

With pressing timelines, the countdown has already begun. Deloitte has extensive experience working with commercial organizations to help them prepare and comply with new lease accounting regulations. We can collaborate with your organization to incorporate lessons learned when navigating your transformation. We think about early preparation in the following key areas:

Implementing the new government lease accounting standards

Start now! Allow us to collaborate with you to plan ahead for the new challenges and managing the processes of complying with the leasing accounting changes. Deloitte stands ready to advise and help design an implementation strategy best suited to your organization. We can tailor our services to directly meet your unique organizational structure.

The Deloitte Difference: End-to-end lease standard implementation approach

Learn more about:

GASB 87 Deferral POV Paper

GASB 87 Countdown to Compliance Placemat

GASB 87 Placemat

SFFAS 54 Placemat

Deloitte has a unique perspective of financial processes and technology across government and higher education institutions. Connect to our subject matter leaders who can collaborate with you to plan and leverage leading practices for managing the new leasing standard. Let’s work together to proactively address concerns and challenges while also looking at opportunities for program and data enhancement. Contact us today.

Get in touch

Jennifer Ahn

Jennifer Ahn

Partner | Deloitte Risk & Financial Advisory

Jennifer is a Deloitte Risk & Financial Advisory partner in Deloitte & Touche LLP and leads the Government & Public Services (GPS) Advisory Higher Education subsector and is the Lead Business Partner ... More

Christopher (Chris) Stewart

Christopher (Chris) Stewart

Partner | Deloitte & Touche LLP

Christopher is a partner in Deloitte & Touche LLP’s Deloitte Risk & Financial Advisory practice and serves as a leader in the Financial Risk, Transactions, and Restructuring (FRTR) offering portfolio ... More

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