The Bottom Line on the New Lease Accounting Requirements
- Lease classification
- Amortization of the lease asset
- Derecognition of the underlying asset
- Recognition of lease receivables
This course is intended to familiarize the learner with the key aspects of the new leases standard, FASB ASC 842. When you complete this course you will be able to:
- 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.
Experience in application of accounting standards