This course provides an overview of the current lease accounting standard issued by the Financial Accounting Standards Board (FASB) prescribed within Accounting Standards Codification (ASC) Topic 842. This includes a discussion of the reasons for the change from the previous standard, how to correctly identify a lease within a contract, and the overall recognition, measurement, subsequent measurement, and disclosure requirements. This course also provides examples of real-world disclosures as well as challenges faced by entities post-adoption.
Course Publication Date:
March 13, 2024
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$40.00!
| Author: | Kelen Camehl |
| Course No: | ACT-LEASE-8144 |
| Recommended CPE: | 2.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Determine whether an arrangement contains a lease.
- Identify considerations with respect to substitution rights.
- Identify the criteria for the new finance lease and short-term leases.
- Recognize the recognition and measurement requirements for both lessees and lessors.
- Identify the requirements related to lease modifications.
- Identify presentation and disclosure requirements for both lessees and lessors.