The Bottom Line on the New Lease Accounting Requirements

FASB ASC 842, Leases explained
Understanding lease fundamentals is essential to applying FASB lease requirements appropriately. As such, you'll delve into key concepts that define what a lease is, as well as basic lease accounting topics, such as:

Contracts containing leases Lease classification
Amortization of the right-of-use asset
Impairment considerations

Lease presentation and disclosure requirements
Comprehensive examples and case studies will guide you through approaches to help you adopt accounting guidance for FASB ASU 2023-01. You'll also review the presentation and disclosure requirements, and other topics, including:
Lease versus non-lease components Sales-type lease Direct financing lease
Operating lease
Lease terminations

Objectives

• Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.
• Recognize accounting requirements for lease modifications under FASB ASC 842.
• Recognition presentation requirements for lessees and lessors under FASB ASC 842.
• Identify the recognition criteria for sales-type, direct financing, and operating leases.

Highlights

Lease classification Amortization of the leased asset Derecognition of the underlying asset Recognition of lease receivables Lease modifications Sale and leaseback transactions

Who Will Benefit

Accountants and finance professionals

Credits

Category	Amount
Accounting	4.00