The New Lease Accounting Standards

Price: $39.00

CPE Credits: 4.0

Category:

Course Number: AALSTDKC

new lease accounting standard

Description:
This course provides an in-depth overview of the new lease accounting standards issued by the Financial Accounting Standards Board (FASB) in February 2016.  This includes a discussion of the primary reasons for the change as well as how to identify a lease within a contract.  This course also provides an in-depth review of lease classification, initial measurement, subsequent measurement, presentation & disclosure, as well as transition requirements.  The course concludes with a discussion of some of the significant differences between IFRS 16 (the IASB’s new lease accounting standard) as well as private company considerations. Table of Contents

Delivery Method:  Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

AuthorKelen F. Camehl, CPA, MBA

Publication: December 2018

Format: PDF
Pages: 82

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Recognize how the new leasing standard has evolved and how the new standard is organized
  • Determine whether an arrangement contains a lease
  • Identify considerations with respect to substitution rights and decision-making rights
  • Identify the criteria for the new finance leaseand short-term leases
  • Recognize the new recognition and measurement requirements for both lessees and lessors
  • Identify the recognition criteria for sales-type, direct financing, and operating leases
  • Identify the overall requirements with respect to lease modifications
  • Identify the criteria used for sale and leasebacktransactions
  • Identify the considerations with respect to a lessee’s involvement in construction of a leased asset
  • Identify the presentation requirements for both lessees and lessors
  • Recognize both qualitative and quantitative disclosure requirementsfor both lessees and lessors
  • Identify the effective date for the new lease accounting standards
  • Identify the significant differences between ASC 842 and IFRS 16
  • Recognize considerations of and alternatives provided to private companies

 

Description:
This course provides an in-depth overview of the new lease accounting standards issued by the Financial Accounting Standards Board (FASB) in February 2016.  This includes a discussion of the primary reasons for the change as well as how to identify a lease within a contract.  This course also provides an in-depth review of lease classification, initial measurement, subsequent measurement, presentation & disclosure, as well as transition requirements.  The course concludes with a discussion of some of the significant differences between IFRS 16 (the IASB’s new lease accounting standard) as well as private company considerations. Table of Contents

Delivery Method:  Online QAS Self Study.

Level: Overview.

Prerequisites: None

Advanced Preparation: None

AuthorKelen F. Camehl, CPA, MBA

Publication: December 2018

Format: PDF
Pages: 82

Passing Grade: 70%

Exam Policies: Exam may be retaken. Course must be completed within one year of purchase.

CPE Sponsor Info : NASBA/QAS #109234. Click here to view specific state approvals.

By the end of the course participants should be able to:

  • Recognize how the new leasing standard has evolved and how the new standard is organized
  • Determine whether an arrangement contains a lease
  • Identify considerations with respect to substitution rights and decision-making rights
  • Identify the criteria for the new finance leaseand short-term leases
  • Recognize the new recognition and measurement requirements for both lessees and lessors
  • Identify the recognition criteria for sales-type, direct financing, and operating leases
  • Identify the overall requirements with respect to lease modifications
  • Identify the criteria used for sale and leasebacktransactions
  • Identify the considerations with respect to a lessee’s involvement in construction of a leased asset
  • Identify the presentation requirements for both lessees and lessors
  • Recognize both qualitative and quantitative disclosure requirementsfor both lessees and lessors
  • Identify the effective date for the new lease accounting standards
  • Identify the significant differences between ASC 842 and IFRS 16
  • Recognize considerations of and alternatives provided to private companies

 

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