On-Demand

2 CPE Credits

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

On-Demand
2 CPE Credits

This course is delivered as a recorded video. After completing all sessions, you must pass the final exam with a minimum score of 70% to receive credit.

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.

Learning 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

CPE Credits Available

2 CPE Credits
2
Accounting

Things to Know About This Course

Course Level

  • Basic

Professional Area of Focus

  • Accounting

Prerequisites

Basic understanding of U.S. generally accepted accounting principles

Advanced Preparation

None

Intended Audience

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

Provider

Surgent CPE

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