Description
Learn the core principles of FASB ASC 842, Leases, including identification, recognition, measurement, presentation and disclosure requirements.
Designed For
- Accountants and finance professionals
Objectives
- Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842
- 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
- Recognize presentation requirements for lessees and lessors under FASB ASC 842
- Recognize business factors to consider when implementing FASB ASC 842
Highlights
- Lease classification
- Amortization of the lease asset
- Derecognition of the underlying asset
- Recognition of lease receivables