The course, the first in a three-course series, concentrates on the identification of a lease and the classification of the lease as covered in ASC Topic 842-10. 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 a lease
• Classify the lease from both the lessee and the lessor's perspectives
• Determine the lease term and commencement date
• Calculate initial direct costs
• Review excerpts from a selection of public companies' lease disclosures
• FASB ASC 842, Leases
• All recently released updates to ASC 842, Leases