The latest update to the accounting standards for leases has significantly increased the complexity of the related accounting. Accounting for Leases focuses on the different components of leases, the types of leases that may be used by a lessee and lessor, and the accounting for each one. The course also addresses how lease liabilities and right-of-use assets are calculated and presented in the financial statements. A number of additional topics are addressed, including the treatment of initial direct costs, sale and leaseback transactions, and lease-related disclosures. This course can be considered essential reading, given the absurd intricacy of lease accounting.
Nature of a Lease. Lease Components. Initial Direct Cost. Lease Consideration. Lease Term. Initial Measurement of Lease Payments. Subsequent Measurement of Lease Payments. Types of Leases. Asset and Liability Recognition. Initial Measurement. Lease Recognition Topics. Variable Lease payments. Lease Modifications. Elections. Sale and Leaseback Transactions. Lease Presentation. Lease Disclosures.
CPAs, CFOs, controllers, financial professionals, and auditors.
Identify the reasons why a lease can be useful for a lessee. Specify the leasing rules related to asset substitution. Recognize the situations to which lease accounting does not apply. Recall the circumstances under which a separate lease component is considered to exist. Specify the different types of lease payments. Identify the special rules related to leases from government entities. Recall how the 12-month lease exception works. Identify the unique characteristics of sales-type and direct financing leases. Specify the restrictions on the use of the risk-free discount rate when deriving a lease present value.
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $67.00
Member Price $58.00