Creating finance enterprise groups for GASB 87 leases
According to GASB 87, all leases are considered finance leases unless they meet
certain exceptions and are reported on the balance sheet. A new right-of-use (ROU) asset and
lease liability is listed separately on the balance sheet
Use this procedure to set the lease accounting method on the accounting entity
Caution:
You can cannot change the lease accounting method
after it is used.