Leases – ASU 2016-03

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Location: Online

1Credits

Accounting and Auditing

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Product Code: FI20-AUS2016

Level: Update

Vendor: Florida Institute of CPAs

Field of Study: Accounting

Overview:

ASC Topic 842 requires a principles-based approach to account for leases. This session will cover guidance with the new revenue recognition guidance.

This presentation was previously recorded at the MEGA CPE Conference on 06/13/19.

Objectives:

After viewing this presentation, participants will be able to:

Discuss the amended guidance for the treatment of leases and the affect across industries
Define the term “lease” per Topic 842, Leases
Identify the five conditions for classifying a lease as finance or operating
Describe the major differences between the old and new standard
Discuss how the new standard applies to lessee accounting

Instructors:

J. Edward Grossman

Major Topics:

A deep dive into the new rules leases – ASU 2016-03

Where are we coming from Accounting for leases

How we got to where we are today

Leases – subsequent developments

A review of ASU2016-02

Review examples of lease accounting

Applying Topic 842

Designed For:

CPAs or accounting professionals.

Prerequisite:

Some knowledge of accounting for leases

Additional Info:

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