Leases: Mastering the New FASB Requirements

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Facility Name
Sheraton Framingham
Facility Address
1657 Worcester Rd
Framingham, MA 01701-5403
Fields of Study
Accounting, Auditing
Course Level
Intermediate
Vendor
American Institute of CPAs

Registration Fees

MSCPA-AICPA Member
$249.00
MSCPA Member
$279.00
AICPA Member
$349.00
Non-Member
$379.00
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Thursday, Jun 22, 2017
8:45am – 4:30pm

How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples are included to illustrate application of the new standard. This course explains the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition, and collectability. Additional topics include short-term leases, purchase options, variable lease payments, and sale and leaseback transactions.

This seminar qualifies for the Workforce Training Express Fund program. The course code for this program is 1112963 
Click here for more details:
https://www.mscpaonline.org/cpe/training_fund

Designed For

Accountants in practice and industry

Course Objectives

When you complete this course you will be able to:  Identify a lease under the new leases standard.  Identify recognition and measurement requirements of the new leases standard.  Identify presentation and disclosure requirements of the new leases standard.

Major Subjects

 Lease classification.  Amortization of the lease asset.  Derecognition of the underlying asset.  Recognition of lease receivables.

Prerequisites

Experience in application of accounting standards

The start date for this course has passed. Registration is no longer available.