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Overview:

This course explains the lessee accounting model, including lease and non-lease components, lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition, and collectability. Included in this course are detailed illustrated examples with amortization tables and journal entries.

Learning Objective:

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. 

Highlights:

Lessee and lessor accounting models Lease and non-lease components Lease classifications Initial and subsequent measurement of leases.

Who Should Attend: Accountants in practice and industry

Knowledge Required: Experience in the application of accounting standards

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