Understanding the New Lease Accounting Standard (PGLS)

Customer Rating
Field of Study
Accounting
Level
Intermediate
Credits
4
Qualifies For
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 now-effective changes to the lease accounting guidance. 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 remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842’s effective date here, now is the time to get up to speed on this complex new standard.

Additional information

year

2023

version

01

Credits

4

Company Code

Self Study

Format

On Demand

Yellow Book Approved

0

CFP Approved

0

IRS Approved

0

CTEC Approved

0

Field of Study Credits

Accounting (4)

Field of Study Department

Accounting

Course Version

2023-01

CPE Approved

1

Pre-requistes:

Experience in financial accounting and reporting

Knowledge Level:

Intermediate

Major Topics:

  • Recently issued updates to the lease accounting guidance
  • Lessee Accounting 101
  • Lessor Accounting 101
  • Transition guidance
  • ASU No. 2016-02, Leases (Topic 842)
  • Other operational issues
  • Detailed review of accounting by lessees and lessors
  • Feedback from the public company adoption of Topic 842
  • Sale and leaseback transactions
  • Overall lease accounting guidance
  • FASB guidance on accounting for COVID-19-related rent concessions

Learning Objectives:

  • An overview of 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