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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: November 4, 2020

4 Reviews (8 ratings)Reviews

1
Member's Profile
This is the worse course I've taken on this platform so far. Very poorly organized and makes the subject even more complex than it is. Even review and exam questions have errors. Do not recommend.
1
Member's Profile
Absolute worst course. DO NOT TAKE. Exam questions have errors. Do not recommend!!!!
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