The Bottom Line on the New Lease Accounting Requirement

Description

How do the leasing requirements in the new standard differ from current GAAP?  This course addresses that question by focusing on the basic core principles of the new standard.  Discussion includes basic identification, recognition, measurement, presentation and disclosure requirements.  Case study exercises are included to illustrate application of the new standard.

This course discusses the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability.  This course also discusses the lessor accounting model, including profit recognition and collectively.

Highlights

Lease classification

Amortization of the lease asset

Derecognition of the underlying asset

Recognition of lease receivables

Objectives

Differentiate between requirements under the current and new leases standards.

Compare current lease recognition and measurement requirements to those of the new leases standard.

Identify presentation and disclosure requirements of the new leases standard.

Designed For

Accountants in practice and industry