Leases: Mastering the New FASB Requirements

Presented by Daryl Krause

Presentation type = pre-record/rebroadcast

FASB ASC 842, *Leases*, standards decoded
By learning essential information about lease accounting requirements, you'll understand the core principles of the standards and how to apply them. You'll explore topics, such as:

Identification

Recognition

Measurement

Presentation and disclosure requirements

Deliberate application of lessee accounting model
You'll also learn about classifying leases, the amortization of the right-of-use asset, and the interest on a lease liability. Additional topics include:

Short-term leases

Purchase options

Variable lease payments

Sale and leaseback transactions

Leveraged leases

Accountants and finance professionals

• 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 accounting requirements for lease modifications under FASB ASC 842.
• Recognize accounting requirements for sale and leaseback transactions under FASB ASC 842.
• Recognize presentation requirements for lessees and lessors under FASB ASC 842.

Lease classification

Amortization of the lease asset

Derecognition of the underlying asset

Recognition of lease receivables

Lease modifications

Sale and leaseback transactions

Presentation and disclosure requirements