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