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Lease transactions are common in most businesses, and recent changes to the lease accounting standards may have a large impact on your balance sheet and company profitability. This course explains the most important lease accounting concepts. This course covers the following topics:

  • Defining a lease
  • Lessor and lessee accounting for leases
  • Financial vs. operating leases
  • Single and variable lease components
  • Lease classifications
  • Protective rights and lease guarantees

Learning Objectives

  • Discover and defining a lease.
  • Explore financial vs. operating leases.
  • Identify single and variable lease components.
  • Recognize protective rights and lease guarantees.
Last updated/reviewed: June 14, 2021

2 Reviews (9 ratings)Reviews

5
Anonymous Author
I liked the clear discussions. Would have liked for more examples as reference.
4
Anonymous Author
I really enjoyed the course and found it really informative.

Prerequisites

Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
  3:46Important Lease Terms
  6:20Income, Lease Agreement Basics
  3:43Questions Set One
Components and CLASSES OF LEASES
  4:17Single Components, Variable Components
  5:02Lease Components
  4:34Lease Classifications
  3:44Questions Set Two
  6:02Financing Lease Criteria
  4:20Estimated Economic Life
Lease Payments and GUARANTEES
  4:43Variable Lease Payments/Substance Fixed Payments
  5:37Protective Rights Lease Guarantees
  5:53Lease Guarantees
  6:07 Fair Value, Discount Rates, Borrowing Rates
  5:32Collectability, Alternative Uses
Accounting
  6:12Lease Accounting
  3:28Lessor Accounting Part 1
  4:26Lessor Accounting Part 2
CONTINUOUS PLAY
  1:16:19Important Lease Terms
SUPPORTING MATERIAL
  PDFSlides: Accounting for Leases
  PDFAccounting for Leases Glossary/ Index
  PDFHandout: Accounting Lease Guide
  PDFHandout: Accounting Lease FASB Update
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM