Leases: Mastering the New FASB Requirements

*CAW Network USA member discounts applicable at checkout

FASB ASC 842 requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about lease arrangements. This self-study course provides an in-depth look at the new leases standard, FASB ASC 842, covering identification, recognition, measurement, and presentation and disclosure requirements.

Both the lessee and lessor accounting models, as well as short-term leases, purchase options, variable lease payments, and sale and leaseback transactions are addressed. Also included is a chapter that examines the differences between FASB ASU No. 2016-02 and IFRS 16. This course features examples that include journal entries and lease amortization schedules to illustrate a lessee’s accounting for finance and operating leases, as well as lease modifications.

CPE Credit: 9

Topics Discussed

• Lease classification
• Amortization of the lease asset
• Derecognition of the underlying asset
• Recognition of lease receivables

Learning Objectives

• Identify a lease under the new leases standard.
• Identify recognition and measurement requirements of the new leases standard.
• Identify presentation and disclosure requirements of the new leases standard.
• Prepare journal entries

Who will benefit

• Accountants in practice and industry