This course provides an in-depth overview of the lease accounting standards prescribed by ASC 842. This includes a discussion of how to identify a lease within a contract and how to classify a lease. This course also provides an in-depth review of the initial measurement, subsequent measurement, and presentation & disclosure of leases.
Course Publication Date:
April 15, 2025
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$40.00!
| Author: | Kelen Camehl |
| Course No: | ACT-LEASESTAND-8065 |
| Recommended CPE: | 4.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Determine whether an arrangement contains a lease.
- Identify considerations with respect to substitution rights and decision-making rights.
- Identify the criteria for finance lease and short-term leases.
- Recognize the 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 leaseback transactions.
- Identify the presentation requirements for both lessees and lessors.
- Recognize both qualitative and quantitative disclosure requirements for both lessees and lessors.
- Recognize considerations of and alternatives provided to private companies.