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This course provides a high-level overview of the accounting and reporting requirements related to lease transactions as outlined in ASC Topic 842. This course addresses the process of determining whether an arrangement contains a lease and the resulting lease classification. This course also addresses recognition requirements as well as some high-level presentation & disclosure topics.

Learning Objectives

  • Explore and determine whether an arrangement contains a lease.
  • Discover and list the criteria for lease classification.
  • Identify how leases are initially and subsequently measured.
  • Recognize impacts from lease modifications.
  • Identify presentation and disclosure requirements for lease transactions.
Last updated/reviewed: May 5, 2022

4 Reviews (21 ratings)Reviews

5
Member's Profile
The course gives overview of Lease fundamentals. A more descriptive course with accounting entries from lessee & lessor perspective as well as practical examples on Lease modifications with increase duration of course could have made it even more intriguing.
5
Anonymous Author
Overall is great course that packs a great punch in covering lease materials. The material is well laid out and the course objectives are met. I would recommend to anyone looking to learn about ASC 842. Great job
4
Member's Profile
The presenter's explanations were well explained. we would like to suggest that in the next videos more examples can be given to make it easier for us to understand.
5
Anonymous Author
I enjoyed how the presenter outlined the material. He came across very knowledgeable and was able to present the information in a logical manner.

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
INTRODUCTION AND OVERVIEW
  1:54Introduction to Lease Accounting Fundamentals
  9:22What is Lease and Identification of An Asset
  5:50Final Lease Assessment and Lease Classification
  quizREVIEW QUESTIONS
  7:10Initial and Subsequent Measures of Leases
  5:54Lessor Accounting and Lease Modification
  5:29Presentation Requirements and Financial Statement Disclosures
  0:34Conclusion
  quizREVIEW QUESTIONS
CONTINUOUS PLAY
  36:13Lease Accounting Fundamentals
SUPPORTING MATERIAL
  PDFSlides: Lease Accounting Fundamentals
  PDFLease Accounting Fundamentals Glossary/ Index
REVIEW AND TEST
 examFINAL EXAM