Leases—Statement 87—Stage One

Leases—Statement 87—Stage One

PIR Topic: Statement No. 87, Leases
Background: Statement 87 was issued in June 2017. Subsequent to Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance, it is effective for fiscal years beginning after June 15, 2021, and all reporting periods thereafter.

History:
  • PIR initiated: May 2019
  • Stage 2 activities commenced: January 2021
Current Developments: Cost surveys for pre-implementation, implementation, and post-implementation years continue to be conducted and related reminders sent on a monthly basis, as applicable based on implementation dates provided by volunteers.

Work Plan:
 
Board Meetings Activities
May 2022–June 2023 Continue to conduct cost survey for volunteers that are implementing Statement 87 in accordance with the extended effective date and archival analysis for pre-implementation year.
June 2022–July 2023 Analyze pre-implementation year data.
October 2022–June 2024 Conduct cost survey for volunteers that are implementing Statement 87 in accordance with the extended effective date and archival analysis for Statement 87 implementation year.
June 2023–July 2024 Analyze implementation year data.
October 2023–June 2025 Conduct cost survey for volunteers that are implementing Statement 87 in accordance with the extended effective date and archival analysis for post-implementation year.
June 2024–December 2025 Analyze post-implementation year data; prepare final summary for initial archival and survey results.
June 2026 Resume stage two activities.
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