Overview
With the effective date of Topic 842 now here, now is the time to get your hands around the details of the FASB’s new leases standard. Designed for accounting and auditing practitioners at all levels in both public accounting and business and industry, this course provides a thorough overview of the FASB’s new lease accounting standard (ASU No. 2016-02) that was released in February 2016 and all subsequent changes that have been made to ASC 842. You will learn about the long-awaited lease accounting standard for lessors and lessees, including transition accounting, as well as recent updates to the new lease accounting guidance. Plenty of practical application illustrations are used, including journal entries, to help in understanding this complex area of accounting.
Major Topics:
Leases (Topic 842)
Overall lease accounting guidance
Lessor Accounting 101
Lessee Accounting 101
Detailed review of accounting by lessees
Sale and leaseback transactions
Transition guidance
Recently released ASUs impacting Topic 842
Learning Objectives
Be familiar with the FASB's new lease accounting standards and guidance
Designed for:
Accounting and auditing practitioners at all levels desiring to be up-to-date on the FASB’s new lease accounting guidance
Prerequisite:
Experience in accounting and auditing
Advanced Preparation:
None