ELA: Question On paragraph 35 and 36 In GASB87 Documentation?
(Doc ID 2732468.1)
Last updated on NOVEMBER 28, 2020
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
GASB87, Sections 35 and 36 state the following:
Financial Statements Prepared Using the Current Financial Resources Measurement Focus
35. If a lease is expected to be paid from general government resources, the lease should be accounted for and reported on a basis consistent with governmental fund accounting principles.
36. An expenditure and other financing source should be reported in the period the lease is initially recognized. The expenditure and other financing source should be measured as provided in paragraphs 21–23. Subsequent governmental fund lease payments should be accounted
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