The Bottom Line on the Lease Accounting Requirements  (CL4LEAS)

4.00 CPE Credit Hours

Which leases are within the scope of FASB *Accounting Standards Codification* 842, *Leases*, and what are the basic accounting, financial reporting, and disclosure requirements? This course addresses those questions by focusing on the basic core principles of this major standard and by clarifying the essential topics such as the identification, recognition, measurement, presentation, and disclosure requirements for leases. Participants will learn to apply the standard by completing engaging case studies incorporated throughout the course. Additionally, they'll explore the lessee accounting model, lease classification, amortization of the right-of-use asset, and the calculation of interest on the lease liability. Participants will also examine the accounting model for lessors and key considerations, such as pro"t recognition and the assessment of collectability.

Accountants and finance professionals

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 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

• Lease classification
• Amortization of the leased asset
• Derecognition of the underlying asset
• Recognition of lease receivables
• Lease modifocations
• Sale and leaseback transactions