Self-Study

Surgent's Examining ASC 842, Leases: More Than Meets the Eye

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Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the now-effective changes to the lease accounting guidance. In this course, we will review how to measure the lease liability and right-of-use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842's effective date here, now is the time to get up to speed on this complex new standard.

Major subjects

• ASU No. 2016-02,Leases (Topic 842)
• Overall lease accounting guidance
• Lessor Accounting 101
• Lessee Accounting 101
• Detailed review of accounting by lessees and lessors
• Sale and leaseback transactions
• Transition guidance
• Other operational issues
• Recently issued updates to the lease accounting guidance
• FASB guidance on accounting for COVID-19-related rent concessions
• Feedback from the public company adoption of Topic 842

Learning objectives

• FASB's comprehensive new lease accounting guidance found in ASU No. 2016-02,Leases (Topic 842)
• Recall operational issues in adopting the new lease accounting standard

Who should take this program?

• Practicing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants and other financial accounting personnel involved in financial statement preparation and review

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $129.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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Related programs

Dec. 7, 2024 | Topic 842: Understanding the New Lease Accounting Standard | Webinar

Dec. 12, 2024 | The Bottom Line on the New Lease Accounting Requirements | Webinar

Dec. 12, 2024 | Topic 842: Implementing Leases Workshop | Webinar

Dec. 13, 2024 | Accounting for Leases | Webinar

Dec. 20, 2024 | Topic 842: Understanding the New Lease Accounting Standard | Webinar

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Related products

ASC 842, Leases: Implementation Issues and Lessons Learned | Self-Study (On-Demand)

Surgent's Accounting for and Auditing Leases | Self-Study (On-Demand)

Surgent's Lease Accounting: The Impact of Changing Standards on Both Lessors and Lessees | Self-Study (On-Demand)

Surgent's Lease Accounting: Exploring the New Standard | Self-Study (Downloadable PDF)

Surgent's Applying Lessons Learned to Assure a Successful ASC 842 Adoption | Self-Study (On-Demand)

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