Surgent's Lease Accounting: The Impact of Changing Standards on Both Lessors and Lessees

Available Anytime

Location: Online

2Credits

Accounting and Auditing

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~~$89.00 Regular Price~~

Nonmembers

$119.00 Regular Price

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Product Code: SU24-AALL-SSWC

Level: Basic

Vendor: Surgent

Field of Study: Accounting

Overview:

The effective date for ASU 2016-02, Leases (Topic 842) is finally here. The new standard eliminates one of the largest forms of off-balance sheet accounting and requires most leases to be brought onto the balance sheet irrespective of their classification as either financing or operating. The new guidance in ASC 842 also makes other changes in lease accounting for both lessees and lessors. This course will discuss the impact of these changing standards on both lessees and lessors and discusses recently issued updates to ASC 842. Now is time to get up to date on all that is going on with regard to lease accounting.

Objectives:

Identify finance lease transactions, including both lessor and lessee perspectives
Understand the proper accounting and financial reporting treatment for operating and finance leases
Describe how lessor accounting is influenced by revenue recognition and measurement concepts
Explain important transition issues from the current to new standards

Major Topics:

Outcomes of the recent FASB and IASB Joint Project related to Leases
Differentiating between accounting and reporting requirements for operating and finance leases
Evaluating possible material misstatement related to lease recognition, measurement, presentation and disclosure

Designed For:

Practicing CPAs and accounting professionals in business and industry that prepare and review or audit financial statements

Prerequisite:

Basic understanding of U.S. generally accepted accounting principles

Additional Info:

You will receive an email from info@surgent.com with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.

For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email info@surgent.com. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.