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22WI-0022: Leases: Mastering the New FASB Requirements (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Friday, April 22, 2022
8:00am - 4:00pm Central Time
8 CPE (8 technical)

Alternate dates & more options

Do you know which leases are within the scope of FASB ASC 842, Leases and how to apply the new financial accounting, financial reporting and disclosure requirements of this new major standard? This course addresses those questions by examining the core principles of the standard, including identification, recognition, meas-urement, presentation and disclosure requirements. Examples with journal entries are included to illustrate ap-plication of the 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 op-tions, variable lease payments, and sale and leaseback transactions. In addition, this course addresses the busi-ness context of implementing the new standard by identifying key factors for managing this significant change.

Major subjects

  • Lease classification
  • 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
  • The business context for implementing FASB ASC 842

Learning objective(s)

  • · Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842 · 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

Who should take this program?

Accountants in practice and industry

Fees

Our records indicate you are a nonmember. If you register, you will be charged $339.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $279.00
checkmark Standard Nonmember Fee $339.00

More program information

Instructor Daryl Krause, CPA
Location Online
Area
of study
Accounting & audit
Field(s)
of study
Accounting - Technical (8.0)
Level Intermediate
Format Group Internet Based
Sponsor AICPA
NASBA ID#: 112891
Prerequisites Prereq. Experience in application of accounting standards
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.