The Bottom Line on the New Lease Accounting Requirements

Wednesday, January 15, 2025
Webcast or Webinar, Online
12:00PM - 4:00 PM (opens at 11:30AM) EST
4Credits
Accounting and Auditing

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$213.00 Regular Price
Non-Members
$261.00 Regular Price

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Course Type: Webcast
Course Code: 24/AI514724
Level: Intermediate
Vendor: AICPA CPE Division
Field of Study: Accounting

Overview:

FASB ASC 842, *Leases* explained
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:
  • Contracts containing leases
  • Lease classification
  • Amortization of the right-of-use asset
  • Impairment considerations

    Lease presentation and disclosure requirements
    Comprehensive examples and case studies will guide you through approaches to help you adopt accounting guidance for FASB ASU 2023-01. You'll also review the presentation and disclosure requirements, and other topics, including:
  • Lease versus non-lease components
  • Sales-type lease
  • Direct financing lease
  • Operating lease
  • Lease terminations
  • Objectives:

    • 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.

    Major Topics:

  • Lease classification
  • Amortization of the leased asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables
  • Lease modifications
  • Sale and leaseback transactions
  • Major Topics:

  • Lease classification
  • Amortization of the leased asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables
  • Lease modifications
  • Sale and leaseback transactions
  • Designed For:

  • Accountants and finance professionals
  • Prerequisites:

    Experience in application of accounting standards