Description

What you need to know about the lessee and lessor accounting models This course explains the lessee accounting model, including

- Lease and non-lease components

- Lease classification

- Amortization of the right-of-use asset

- Interest on the lease liability

This course also explains the lessor accounting model, including

- Transfer of risk

- Profit recognition

- Collectibility

Included in this course are detailed and illustrated examples with amortization tables and journal entries.

Target Audience

- Accountants and finance professionals

Course Objectives

- 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.

Subjects

- Lessee and lessor accounting models

- lease and non-lease components

- lease classifications

- Initial and subsequent measurement of leases

Prerequisites

Experience in application of accounting standard