Lease Accounting & Reporting -- What You Need to KnowCode: 23-LEASEACC

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Course Details

41 pages

Course description and objectives:

This course provides an overview of the new lease accounting standard issued by the Financial Accounting Standards Board (FASB) prescribed within Accounting Standards Codification (ASC) Topic 842. This includes a discussion of the reasons for the change, how to correctly identify a lease within a contract, and the overall recognition, measurement, subsequent measurement, and disclosure requirements. This course also provides examples of real-world disclosures as well as challenges faced by entities post-adoption.

Course Objectives:

Upon completion of this course, you will be able to:

  •  Determine whether an arrangement contains a lease
  •  Identify considerations with respect to substitution 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 requirements related to lease modifications
  •  Identify presentation and disclosure requirements for both lessees and lessors

  

Presentation Method:  Self-Study

 

Category:  Accounting

CPE credit:  2 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

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