Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the now-effective changes to the lease accounting guidance. In this course, we will review how to measure the lease liability and right-of-use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842’s effective date here, now is the time to get up to speed on this complex new standard.
<liComprehend and apply the FASB’s comprehensive new lease accounting guidance found in ASU No. 2016-02, <emLeases (Topic 842)</em </font
</li<liRecall operational issues in adopting the new lease accounting standard</font </li</ul</ul
<liASU No. 2016-02, Leases (Topic 842)</font
</li<liOverall lease accounting guidance</font
</li<liLessor Accounting 101</font
</li<liLessee Accounting 101</font
</li<liDetailed review of accounting by lessees and lessors</font
</li<liSale and leaseback transactions</font
</li<liOther operational issues</font
</li<liRecently issued updates to the lease accounting guidance</font
</li<liFeedback from the public company adoption of Topic 842</font </li</ul</ul
Practicing CPAs and their staffs, both in public accounting and business and industry — controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
Experience in financial accounting and reporting
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