Leases: Mastering the New FASB Requirements

Description

We've been getting questions on how the leasing requirements in the new standard differ from current GAAP. In this webcast, we'll address your questions and concerns by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. We'll even cover the business context of implementing this new standard and identify key factors for managing such a significant change.

Highlights

You'll dig deeper into key topics:

Lessee accounting model

Amortization of the right-of-use asset

Interest on the lease liability

Lessor accounting model

Transfer of risk

Profit recognition

Collectability

Lease classification

Derecognition of the underlying asset

Recognition of lease receivables

Sale and leaseback transactions

Comparison of the requirements of U.S. GAAP and IFRS

Private company considerations

Short-term leases

Purchase options

Variable lease payments

Objectives

Identify a lease under the new leases standard.

Apply the recognition and measurement requirements.

Identify presentation and disclosure requirements.

Designed For

Accountants in practice and industry