Understanding lease fundamentals is essential to applying FASB lease requirements appropriately. As such, you’ll delve into key concepts that define what a lease is, as well as basic lease accounting topics, such as:
DESIGNED FOR
accountants and finance professionals
BENEFITS
- Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.
- Recognize accounting requirements for lease modifications under FASB ASC 842.
- Recognition presentation requirements for lessees and lessors under FASB ASC 842.
- Identify the recognition criteria for sales-type, direct financing, and operating leases.
HIGHLIGHTS
Lease classification
Amortization of the leased asset
Derecognition of the underlying asset
Recognition of lease receivables
Lease modifications
Sale and leaseback transactionsCOURSE LEVEL
Intermediate
PREREQUISITES
Experience in application of accounting standards
ADVANCE PREPARATION
None