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This course provides an overview of the new lease accounting standard issued by the FASB within ASC Topic 842. This includes a discussion of the reasons for the change, 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.
Learning Objectives
- Discover and 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 new 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.
Last updated/reviewed: March 6, 2024
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Prerequisites
Course Complexity: Basic
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
.

Kelen CamehlCPA, MBA