The past few years have seen the issuance of significant new accounting standards by the FASB, which to a certain degree will have a long-lasting effect on virtually all companies. The new guidance on revenue (ASC 606), leases (ASC 842), and financial instruments (ASCs 321, 326, and 815) can be complex to apply and may have significant impact on companies. Collectively, we call these the FASB’s Big 3 new standards.
In this course, we will do a detailed review of the new accounting and disclosure requirements of ASC 842, which will see virtually all leases being recorded by companies. The course will cover all aspects of ASC 842 from the perspectives of both the lessor and lessee, including lease classification, liability calculation, and initial and subsequent recording and transition.
While the implementation date of ASC 606 has passed for most companies, many are still wrestling with mastering the finer points of the FASB’s new revenue recognition guidance and fine-tuning their disclosures. The course
| Credits | 8 |
|---|---|
| Format | Self-Study Download |
| Company Code | Self Study |
| Yellow Book Approved | 0 |
| CFP Approved | 0 |
| IRS Approved | 0 |
| CTEC Approved | 0 |
| Field of Study Credits | Accounting (8) |
| Field of Study Department | Accounting |
| Course Version | 2021-01 |
| CPE Approved | 1 |
