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Understanding the New Lease Accounting Standard (PGLS)

Customer Rating
Field of Study
Accounting
Level
Intermediate
Credits
4
Qualifies For
IRS CPE



Price:  $39.99
Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the upcoming changes to lease accounting. In this course, we will review how to measure the lease liability and Right of Use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease re-measurement events as well as address the other major provisions of the new standard, including transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors.

Additional information

Credits

4

Format

Self-Study Download

Company Code

Self Study

Yellow Book Approved

0

CFP Approved

0

IRS Approved

1

CTEC Approved

0

Field of Study Credits

Accounting (Technical) (4)

Field of Study Department

Accounting (Technical)

Course Version

2019-01

CPE Approved

1

Pre-requistes:

Experience in financial accounting and reporting

Knowledge Level:

Intermediate

Major Topics:

  • Lessor Accounting 101
  • Lessee Accounting 101
  • Overall lease accounting guidance
  • Detailed review of accounting by lessees and lessors
  • Sale and leaseback transactions
  • Other operational issues
  • Transition guidance
  • ASU No. 2016-02, Leases (Topic 842)

Learning Objectives:

  • Recall operational issues in adopting the new lease accounting standard
  • Comprehend and apply the FASB’s comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842)

Designed For:

Practicing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
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