Leases: Mastering the New FASB Requirements

Date: June 16, 2017 Time: 8:00 am - 3:30 pm EST Location: Columbia, MD CPE: 8 Format: In-Person + Simulcast
EVENT 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.

LEARNING OBJECTIVES
Upon completion of this seminar, participants will be able to:
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
MAJOR TOPICS
Lease classification
Differences between "Type A" and "Type B" leases
Amortization of the lease asset
Derecognition of the underlying asset
Recognition of lease receivables
EVENT DETAILS
PROFESSIONAL AREAS OF FOCUS
Accounting & Auditing Business & Industry
CPE FIELD OF STUDY
Accounting (8 Credits)
WHO SHOULD ATTEND
Accountants in practice and industry
INSTRUCTOR(S)
Gary Bulmash
PREREQUISITES
Experience in the application of accounting standards.
COURSE LEVEL
Intermediate
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