After years of discussion, the Financial Accounting Standards Board (FASB) finalized a new revenue and lease standard that significantly changes revenue recognition and lease accounting recognition, measurement, presentation, and disclosure. This program will cover the new rules and discuss planning strategies that are necessary to successfully implement them before they become effective.
DESIGNED FOR
CPAs and other accounting professionals in industry and in public practice.
BENEFITS
- New lease terminology including two new types of leases
- The definition of a lease
- The recognition and measurement techniques for right-to-use intangible assets and lease liabilities
- Subsequent lease re-assessment
- The 5-step revenue recognition process and apply it to common situations
- The proper treatment of revenue under the new standard
HIGHLIGHTS
- Leasing and accounting
- New accounting standard, including 5-step revenue model
- Disclosure requirements
- Transition guidance
COURSE LEVEL
Intermediate
PREREQUISITES
Basic knowledge of U.S. GAAP.
ADVANCE PREPARATION
None