Description
Gain an overview of lease accounting to gain competence in working with contracts.
Designed For
- Accountants and finance professionals as well as legal staff and other stakeholders from procurement, IT, and anyone who enters into contracts.
Objectives
- Recognize arrangements that meet the requirements for lease accounting under FASB ASC 842, Leases.
- 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.
Highlights
- Identifying a lease
- Classifying a lease
- Lessee accounting
- Lessor accounting
- Lease modifications
- Sale and leaseback transactions
- Financial statement and disclosure requirements
- Implementing FASB ASC 842