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

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