Description

FASB ASC 842, *Leases*, standards decoded

By learning essential information about lease accounting requirements, you’ll understand the core principles of the standards and how to apply them. You’ll explore topics, such as:

- Identification

- Recognition

- Measurement

- Presentation and disclosure requirements

Deliberate application of lessee accounting model

You’ll also learn about classifying leases, the amortization of the right-of-use asset, and the interest on a lease liability. Additional topics include:

- Short-term leases

- Purchase options

- Variable lease payments

- Sale and leaseback transactions

- Leveraged leases

Instructor: Daryl Krause

Target Audience

· Accountants and finance professionals

Course Objectives

· Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.

· Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842.

· Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842.

· Recognize accounting requirements for lease modifications under FASB ASC 842.

· Recognize accounting requirements for sale and leaseback transactions under FASB ASC 842.

· Recognize presentation requirements for lessees and lessors under FASB ASC 842.

Subjects

· Lease classification

· Amortization of the lease asset

· Derecognition of the underlying asset

· Recognition of lease receivables

· Lease modifications

· Sale and leaseback transactions

· Presentation and disclosure requirements

Prerequisites

Experience in application of accounting standard