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Technical Line - Navigating the requirements of the leases guidance for federal lessors and lessees


Our Technical Line highlights key implications of the new leases standard for U.S. federal entities. The FASAB’s guidance in SFFAS 54 requires federal lessees to recognize a lease asset and lease liability for certain leases at the commencement of the lease term. The guidance requires federal lessors to recognize a lease receivable and unearned revenue for certain leases. The guidance is effective for reporting periods beginning after 30 September 2023.

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