An Overview of Lease Accounting
Gain an overview of lease accounting to gain competence in working with contracts.
NASBA Field of Study
Daryl G. Krause
Leases overview Implementation
Get a bird’s-eye view of FASB ASC 842, Leases, and learn how a lease contract is identified, recognized, initially measured, subsequently measured, presented in the financial statements, and disclosed in the notes to the financial statements.
Also gain a high-level view of lease modifications, sale and leaseback transactions, and tips on implementing FASB ASC 842.
- Accountants and finance professionals as well as legal staff and other stakeholders from procurement, IT, and anyone who enters into contracts.
- Identifying a lease
- Classifying a lease
- Lessee accounting
- Lessor accounting
- Lease modifications
- Sale and leaseback transactions
- Financial statement and disclosure requirements
- Implementing FASB ASC 842
- Recognize arrangements that meet the requirements for lease accounting under FASB ASC 842, Leases.
- Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842.
- Recognize lessor accounting requirements for sales-type, direct financing, and operating leases under FASB ASC 842.
- Recognize accounting requirements for lease modifications under FASB ASC 842.
- Recognize accounting requirements for sale and leaseback transactions under FASB ASC 842.
- Recognize presentation requirements for lessees and lessors under FASB ASC 842.
- Recognize business factors to consider when implementing FASB ASC 842.
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