Daryl G. Krause, CPA


    Credit Info
  • NASBA Field of Study

  • Format

    On demand

  • Level


  • CPE Credit


  • Course acronym

  • Prerequisites

  • Course duration

    9 Hours

Leases: Mastering the New FASB Requirements

SKU: LEAS_19A_2 Category: Tags: , , , ,
FASB ASC 842 requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about lease arrangements. This self-study course provides an in-depth look at the new leases standard, FASB ASC 842, covering identification, recognition, measurement, and presentation and disclosure requirements. Both the lessee and lessor accounting models, as well as short-term leases, purchase options, variable lease payments, and sale and leaseback transactions are addressed. Also included is a chapter that examines the differences between FASB ASU No. 2016-02 and IFRS 16.

Updates in 2019

This 2019 edition includes lease amortization schedules to illustrate existing examples of a lessee's accounting for finance and operating leases, as well as lease modifications. Other changes for 2019 include conforming updates in response to FASB's issuance of ASU No. 2018-11, which amended requirements for transition and separating components of a contract.
Hurry up, special offer for a limited time only.
Topics discussed

Lease classification
Amortization of the lease asset
Derecognition of the underlying asset
Recognition of lease receivables

Learning objectives

Identify a lease under the new leases standard.
Identify recognition and measurement requirements of the new leases standard.
Identify presentation and disclosure requirements of the new leases standard.
Prepare journal entries

Who will it benefit?

Accountants in practice and industry