Leases: Mastering the New FASB Requirements

Code: LEAS

Date Tuesday, July 24, 2018
Time 8:30am - 4:30pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
CPE credits CPE 8.0
of study
Accounting - Technical (8.0)
Instructor Jerome Reutzel, CPA, MBT
Boeckermann, Grafstrom & Mayer, LLC
Standard member fee $325.00
checkmarkStandard nonmember fee $375.00
AICPA member discount ($30.00)

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It's time to bridge your knowledge gap between current generally accepted accounting principles (GAAP) and the new Financial Accounting Standards Board (FASB) lease accounting requirements. Take an in-depth look at the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Using practical examples, sharpen your knowledge and gain helpful implementation tips to ensure a smooth transition.

Who should take this program?

CPAs and accountants in industry and public practice

Major subjects

  • Lease classification
  • Lessee accounting model, including lease classification, amortization of the right-of-use asset and interest on the lease liability
  • Lessor accounting model, including transfer of risk, profit recognition and collectability
  • Amortization of the lease asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables
  • Lease modifications
  • Sale and leaseback transactions
  • Presentation, disclosure and transition requirements
  • Comparison of the requirements of U.S. GAAP and international financial reporting standards (IFRS)
  • Private company considerations
  • Short-term leases
  • Purchase options
  • Variable lease payments

Learning objective(s)

  • 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


Course code Code LEAS
Sponsor MNCPA
NASBA ID#: 139884
Level Intermediate
Format Group Live
Prerequisites Prereq. Experience in the application of accounting standards recommended.