Basic accounting, financial reporting, and disclosure requirements under FASB ASC 842, *Leases* are explained for accounting and finance profession...
5/14/2025 12:00pm - 4:00pm | Online | AICPA
Members: $225.00, Non-members: $269.00
CPE Categories: Accounting (4 CPE)
FASB ASC 842, *Leases* explained
Understanding lease fundamentals is essential to applying FASB lease requirements appropriately. As such, you’ll delve into key concepts that define what a lease is, as well as basic lease accounting topics, such as:
- Contracts containing leases
- Lease classification
- Amortization of the right-of-use asset
- Impairment considerations
Lease presentation and disclosure requirements
Comprehensive examples and case studies will guide you through approaches to help you adopt accounting guidance for FASB ASU 2023-01. You’ll also review the presentation and disclosure requirements, and other topics, including:
- Lease versus non-lease components
- Sales-type lease
- Direct financing lease
- Operating lease
- Lease terminations
- Accountants and finance professionals
- Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.
- Recognize accounting requirements for lease modifications under FASB ASC 842.
- Recognition presentation requirements for lessees and lessors under FASB ASC 842.
- Identify the recognition criteria for sales-type, direct financing, and operating leases.
- lease classification
- Amortization of the leased asset
- Derecognition of the underlying asset
- Recognition of lease receivables
- lease modifications
- Sale and leaseback transactions
Experience in application of accounting standards
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