Course ID: LEAS

Leases: Mastering the New FASB Requirements

How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples are included to illustrate application of the new standard. This course explains the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition, and collectability. Additional topics include short-term leases, purchase options, variable lease payments, and sale and leaseback transactions.


LEARNING OBJECTIVES
  • Identify a lease under the new leases standard.
  • Identify recognition and measurement requirements of the new leases standard.
  • Identify presentation and disclosure requirements of the new leases standard.

MAJOR TOPICS
  • Lease classification.
  • Differences between “Type A” and “Type B” leases.
  • Amortization of the lease asset.
  • Derecognition of the underlying asset.
  • Recognition of lease receivables.

DESIGNED FOR
Accountants in practice and industry

FIELD OF STUDY
Accounting

PREREQUISITES
Experience in the application of accounting standards

COURSE PRODUCER
AICPA

CPE CREDITS
8.0

LEVEL
Intermediate

This course is available for your group as:

Group Internet Based: Webcast Group Live Webcast
 

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