The Bottom Line on the New Lease Accounting Requirements

FASB ASC 842, *Leases* explained

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:

- Contracts containing leases

- Lease classification

- Amortization of the right-of-use asset

- Impairment considerations

Lease presentation and disclosure requirements

Comprehensive examples and case studies will guide you through approaches to help you adopt accounting guidance for FASB ASU 2023-01. You’ll also review the presentation and disclosure requirements, and other topics, including:

- Lease versus non-lease components

- Sales-type lease

- Direct financing lease

- Operating lease

- Lease terminations

Learning Objectives:

· Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.

· Recognize accounting requirements for lease modifications under FASB ASC 842.

· Recognition presentation requirements for lessees and lessors under FASB ASC 842.

· Identify the recognition criteria for sales-type, direct financing, and operating leases.

Who will benefit:

· Accountants and finance professionals

THIS IS AN AICPA HOSTED WEBCAST. YOU WILL LAUNCH THE COURSE FROM YOUR OSCPA LEARNING PORTAL. AICPA WILL ISSUE AND MAINTAIN YOUR CREDITS. PLEASE MAKE SURE TO DOWNLOAD YOUR CPE CERTIFICATE FROM AICPA WEBCAST PORTAL AT THE CONCLUSION OF THE WEBCAST.