The second course, in a three-course series, concentrates on leasing from the perspective of the Lessee, as covered in ASC Topic 842-20. Since ASC Topic 842, Leases, has been adopted by most entities, it is time to review the topic, including any recently issued updates. The course also includes pertinent note disclosures from several publicly traded companies across several industries.
• Identify short-term leases
• Calculate initial measurement of ROU asset and a lease liability
• Calculate the subsequent measurement of both finance and operating leases
• Describe the presentation of the leases in the financial statements
• Review excerpts from a selection of public companies' lease disclosures
• FASB ASC 842, Leases
• All recently released updates to ASC 842, Leases