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.

Learning Objectives
  1. Upon completion of this seminar, participants will be able to:
  2. Identify a lease under the new leases standard
  3. Identify recognition and measurement requirements of the new leases standard
  4. Identify presentation and disclosure requirements of the new leases standard
Major Topics
  1. Lease classification
  2. Differences between "Type A" and "Type B" leases
  3. Amortization of the lease asset
  4. Derecognition of the underlying asset
  5. Recognition of lease receivables
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Accounting & Auditing
Business & Industry
CPE Field of Study
Accounting
8
Who Should Attend
Accountants in practice and industry
Instructor(s)
Gary Bulmash
Prerequisites
Experience in the application of accounting standards.
Location

MACPA Columbia Center, 10280 Old Columbia Road Suite 245, Columbia, MD, United States

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When
Jun 16, 2017
8:00 am - 3:30 pm
Location
MACPA Columbia Center, 10280 Old Columbia Road Suite 245, Columbia, MD, United States
Total CPE Credits
8
Format
In-Person + Simulcast
Instructor
Gary Bulmash

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Leases: Mastering the New FASB Requirements


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