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: August 5, 2023
13 Reviews (57 ratings)

Reviews

4
Anonymous Author
Good overview of the new lease standard and where the guidance has changed. Instructor presented the course in a very organized manner. Just wished he provided some examples of the Day 1 and subsequent period accounting entries to further illustrate the concepts.

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
Good course. It is a brief overview, but for the time, it was well done. I was more interested in the lessees portion, so the Lessors sections were not as interesting to me, but I'm sure they would be helpful to others.

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

5
Anonymous Author
Very concise albeit somewhat fast-paced presentation 101 of ASC842 - from an excellent instructor Mr Camehl! I think it is best to be used in conjuction with the text-based course from the same instructor.

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.

4
Anonymous Author
Excellent presentation of lease accounting fundamentals and ASC 842, as well as defining finance lease criteria vs. operating lease criteria.

4
Anonymous Author
Concise information given, but more examples should be provided to make it comprehensive and easier to apply.

5
Anonymous Author
The presenter needs to engage with his audience more, rather than seemingly just reading a script.

4
Anonymous Author
I though this was a good initial overview. Very helpful info for such a short amount of time.

5
Anonymous Author
good overview of basic principles of ASC 842 lease accounting

5
Anonymous Author
As normal guide of understanding lease basement. Thank you

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Lease Accounting Fundamentals1:54
  What is Lease and Identification of An Asset9:22
  Final Lease Assessment and Lease Classification5:50
  REVIEW QUESTIONSquiz
  Initial and Subsequent Measures of Leases7:10
  Lessor Accounting and Lease Modification5:54
  Presentation Requirements and Financial Statement Disclosures5:29
  Conclusion0:34
  REVIEW QUESTIONSquiz
CONTINUOUS PLAY
  Lease Accounting Fundamentals36:13
SUPPORTING MATERIAL
  Slides: Lease Accounting FundamentalsPDF
  Lease Accounting Fundamentals Glossary/ IndexPDF
REVIEW AND TEST
 FINAL EXAMexam