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This course provides an in-depth overview of the assessment of whether or not an arrangement is or contains a lease. This includes a discussion of specific guidance prescribed by ASC Topic 842 as well as additional interpretive guidance provided by several of the Big 4 accounting firms. This course also addresses the short-term lease exception available in ASC Topic 842.

Learning Objectives

  • Discover and determine whether an arrangement is or contains a lease.
  • Explore and determine whether an arrangement includes an identified asset.
  • Identify considerations with respect to substitution rights and decision-making rights.
  • Recognize the short-term lease exception prescribed by ASC Topic 842.
Last updated/reviewed: May 13, 2022

3 Reviews (13 ratings)Reviews

5
Anonymous Author
Interesting course about leases that is complementative to the other lease course previously offered.
5
Member's Profile
Leases are one of the toughest subjects to learn in accounting, but this course made it so easy!
4
Anonymous Author
Great summary of the new leasing standard and examples to illustrated different key points.

Prerequisites

Course Complexity: Foundational

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
COURSE MATERIAL
  PDFDo I Have a Lease? (Text Based Course)
REVIEW AND TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM