The GASB issued GASB No. 87 Leases in June 2017 to amend the guidance regarding the accounting and reporting related to leases. As is customary for new standards, the GASB provides additional guidance through implementation guides. The GASB recently released an Exposure Draft of the proposed implementation guidance for GASB No. 87 Leases. The implementation guide contains several questions and answers (Q&As) that provide additional guidance as well as background, illustrations and codification instructions on the following:

Issue 1: Lease Term
Issue 2: Short-Term Leases
Issue 3: Contracts That Transfer Ownership
Issue 4: Lease Recognition and Measurement for Leases Other Than Short-Term Leases and Contracts That Transfer Ownership
Issue 5: Notes to Financial Statements-Lessees
Issue 6: Lessor Recognition and Measurement for Leases Other Than Short-Term Leases and Contracts That Transfer Ownership
Issue 7: Notes to Financial Statements- Lessors
Issue 8: Lease Incentives
Issue 9: Contracts with Multiple Components 
Issue 10: Contract Combinations
Issue 11: Lease Modifications and Terminations
Issue 12: Sale-Leaseback Transactions
Issue 13: Lease-Leaseback Transactions 
Issue 14: Intra-Entity Leases 

The requirements of this implementation guide would be effective for financial reporting periods beginning after December 15, 2019. Earlier application is encouraged if GASB No. 87 has been implemented.
Comments are due by April 30, 2019.

The full text of the Exposure Draft is available here.

^{Readers should not act upon information presented without individual professional consultation.}