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21WI-0778: The Bottom Line on the New Lease Accounting Requirements (Webinar)

Date Tuesday, February 8, 2022
Time 8:00am - 12:00pm
Central Time
Location Online
CPE credits CPE 4.0
Field(s)
of study
Accounting - Technical (4.0)
Instructor Daryl Krause, CPA
American Institute of Certified Public Accountants
Fees
Standard Member Fee $179.00
Standard Nonmember Fee $219.00
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Description

Which leases are within the scope of FASB ASC 842, Leases and what are the basic accounting, financial re-porting and disclosure requirements? This course addresses those questions by focusing on the basic core prin-ciples of this new major standard. Discussion includes basic identification, recognition, measurement, presen-tation and disclosure requirements. Case study exercises are included to illustrate application of the standard. This course discusses the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also discusses the lessor accounting model, including profit recognition and collectability.

Who should take this program?

Accountants in practice and industry

Major subjects

  • Lease classification
  • Amortization of the lease asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables

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 presentation requirements for lessees and lessors under FASB ASC 842 · Recognize business factors to consider when implementing FASB ASC 842

Notes:

Course code Code 21WI-0778
Sponsor AICPA
NASBA ID#: 112891
Level Intermediate
Format Group Internet Based
Prerequisites Prereq. Experience in application of accounting standards
Advance
prep
None
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