Leases: Mastering the New FASB Requirements

Description

How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples are included to illustrate application of the new standard. This course explains the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition, and collectability. Additional topics include short- term leases, purchase options, variable lease payments, and sale and leaseback transactions. Topics Discussed • Lease classification. • Differences between “Type A” and “Type B” leases. • Amortization of the lease asset. • Derecognition of the underlying asset. • Recognition of lease receivables.

Learning Objectives
  1. Identify a lease under the new leases standard.
  2. Identify recognition and measurement requirements of the new leases standard.
  3. Identify presentation and disclosure requirements of the new leases standard.
Major Topics
  1. Lease classification. Differences between “Type A” and “Type B” leases. Amortization of the lease asset. Derecognition of the underlying asset. Recognition of lease receivables.
Provider
AICPA
Course Level
Intermediate
CPE Field of Study
Accounting
8.0
Who Should Attend
Accountants in practice and industry
Instructor(s)
Daryl Krause
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When
Apr 18, 2017
9:00 am - 5:00 pm
Location
Online
Total CPE Credits
8.0
Format
Webcast
Instructor
Daryl Krause

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Leases: Mastering the New FASB Requirements


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