Understanding lease fundamentals is essential to applying FASB lease requirements appropriately. As such, you’ll delve into key concepts that define what a lease is, as well as basic lease accounting topics, such as:
DESIGNED FOR
accountants and finance professionals
BENEFITS
- Recognize arrangements which meet the scope requirements for
lease accounting under FASB ASC 842.
- Recognize lessee accounting requirements for operating leases and
finance leases under FASB ASC 842.
- Recognize lessor accounting requirements for sales-type, direct
financing, and operating leases under FASB ASC 842.
- Recognize presentation requirements for lessees and lessors under
FASB ASC 842.
HIGHLIGHTS
Lease classification
Amortization of the leased asset
Derecognition of the underlying asset
Recognition of lease receivables
PREREQUISITES
Experience in application of accounting standards
ADVANCE PREPARATION
None