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The New Lease Accounting StandardsCode: 23-NEWLEASE
Price: $39.00
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Course Details
61 pages
Course description and objectives:
This course provides an in-depth overview
of the new lease accounting standards issued by the Financial Accounting Standards
Board (FASB) in
February 2016. This includes a
discussion of the primary reasons for the change as well as how to identify a
lease within a contract. This course also
provides an in-depth review of lease classification, initial measurement,
subsequent measurement, presentation & disclosure, as well as transition
requirements. The course concludes with
a discussion of some of the significant differences between IFRS 16 (the IASB’s new lease accounting standard) as well as private company
considerations.
Course Objectives:
·
Recognize how the
new leasing standard has evolved and how the new standard is organized
·
Determine whether
an arrangement contains a lease
·
Identify
considerations with respect to substitution rights and decision-making rights
·
Identify the
criteria for the new finance lease and short-term
leases
·
Recognize the new
recognition and measurement requirements for both lessees and lessors
·
Identify the
recognition criteria for sales-type, direct financing, and operating leases
·
Identify the overall requirements with respect
to lease modifications
·
Identify the
criteria used for sale and leaseback transactions
·
Identify the
considerations with respect to a lessee’s involvement in construction of a
leased asset
·
Identify the
presentation requirements for both lessees and lessors
·
Recognize both
qualitative and quantitative disclosure requirements for both lessees
and lessors
·
Identify the
effective date for the new lease accounting standards
·
Identify the
significant differences between ASC 842 and IFRS 16
·
Recognize
considerations of and alternatives provided to private companies
Presentation Method: Self-Study
Category: Accounting
CPE credit: 4 Hours
Program Level: Update
Prerequisites: None
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase

$39.00
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