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Webcast: Leases: Mastering the New FASB Requirements (WBLEAS416)
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11/1/2016
When: 11/1/2016
8:00 AM until 4:00 PM
Where: Webcast
AICPA
1193231:11166C785359DAFA967A249A56A38E8F
United States
Presenter: Daryl G. Krause, CPA


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Acronym WBLEAS416
CPE 8 hours
Vendor AICPA
Category
Accounting & Auditing
Level Intermediate
Yellow Book No
Prerequisite Experience in the application of accounting standards
Who should attend Accountants in practice and industry
Members $249
CPA Non-Members $319

The Member rate applies to LCPA members, reciprocal state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Description

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 shortterm leases, purchase options, variable lease payments, and sale and leaseback transactions.

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.

Topics

  • Lease classification.
  • Differences between “Type A” and “Type B” leases.
  • Amortization of the lease asset.
  • Derecognition of the underlying asset.
  • Recognition of lease receivables.

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