Overview

8.0 Credits
ONLINE

Examine the core principles of the new lease standard, including identification, recognition, measurement, presentation and disclosure requirements. Review the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability, as well as the lessor accounting model, including transfer of risk, profit recognition, and collectability. Additional topics include short-term leases, purchase options, variable lease payments, and sale and leaseback transactions. Discuss the business context of implementing the new standard by identifying key factors for managing this significant change. 

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.

Major Topics

  • Lease classification
  • Amortization of the lease asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables
  • Lease Modifications
  • Sale and leaseback transactions
  • Presentation, disclosure, and transition requirements
  • Comparison of the requirements of U.S. GAAP and IFRS
  • Private company consideration
  • The business context for implementing the new standard

Prerequisite

Experience in application of accounting standards

Advanced Preparation

None

Sessions

Please select the appropriate session or option below to continue with your online purchase

Friday, October 9, 2020

General Sessions
Add to Cart