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This course is a general overview of the lease accounting changes to Financial Accounting Standard (FAS) 13 and International Accounting Standards (IAS) 16 & 17. It describes the upcoming changes and how you will record a real estate lease on your financial statements. It explains how the changes affect the Balance Sheet, Income Statement, and Cash Flow Statement. Finally, this course offers tips on how you can minimize the impact of the new rules.
Learning Objectives
- Identify key changes in how leases are recorded on the financial statements.
- Discover key elements of the new lease accounting rules.
- Recognize how to classify a lease under the new rules.
Last updated/reviewed: November 6, 2019
14 Reviews (64 ratings)Reviews
Wendy Jones
( at Harry and David)
I enjoyed the presentation. Although the topic was dry the presenter had quick little quips that would make you laugh. This was actually the best presentation I had on the subject. I feel much better about my understanding of the changes. Even the though it is at a basic level it provided enough informatin for me to be to understand more advanced lessons on the subject.
Andrew Smith
(Assistant Controller at Rothschild &Co US Inc.)
Every once in a while you strike gold. As an Assistant Controller at my firm, this course provided perfect examples of how to effectuate the lease transition (operating vs. financing, IFRS vs. US GAAP, calculating interest expense, what to do with the existing deferred rent liability etc.). Gabe is fantastic and I look forward to taking his other courses.
Erin Galyean
(Controller at A-dec)
This was the best lease accounting training I've had since the standard changed. It was the perfect level of depth and I appreciated the examples and the suggestions for how to minimize the impact on the different statements.
Anonymous
(Controller)
The course provides an excellent detailed explanation of the differences between the two types of leases, as well as explain how leases should be treated before and after the changes are implemented.
Anonymous
(Sr. Director of Cost Management and Comp..)
Very detailed course that completely covers the lease scenarios for office space leasing. The course is high level, but the concepts can get seemingly complex and difficult to understand.
Joyce Holiday
(Consultant at DLC)
Great overview of the changes to leases. The layout of the course was easy to follow and able to quick identify the key changes between the two types of leases.
Anonymous
(Consultant)
This is a thoughtfully designed course that explains the changes as well as the differences in treatments between operating leases and finance leases
Anonymous
()
Decent overview of the new lease accounting rules. More explanation of the historical rules to provide context would be helpful.
Bette Shepherd
(CFO at D&S Green Services)
Course material was well written and the instructor's explanations were clear and understandable
Anonymous
(Accounting Manager)
Presenter did avery good job explaining the new changes. Charts used were extremely helpful
Brian Eldred
(Controller at URM Stores, Inc.)
This was a very good overview of the new lease accounting process with excellent examples.
Emily Sherman
(Lead Sr Accountant at A-dec)
Very good explanation of the changes as well as provided great examples.
Anonymous
()
Class was very informative and helpful for understanding the new rules.
Anonymous
(Financial Controller, GBUs and Real Esta..)
This was a very helpful overview of the new Lease guidance.
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 .