CPE Self-Study

Leases: Mastering the New FASB Requirements

  • $129.00-$169.00
    Leases: Mastering the New FASB Requirements Availability : Online Access Product #: 164932
    AICPA Member: $129.00
    Non-Member: $169.00
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    Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us Product #: GT-LEAS

Still mastering the latest FASB requirements? This CPE course can help by providing an in-depth look at the new leases standard released in ASU No. 2016-02, Leases (Topic 842), which requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about lease arrangements. This CPE course provides comprehensive coverage that includes identification, recognition, measurement, and presentation and disclosure requirements. We address both the lessee and lessor accounting models, as well as short-term leases, purchase options, variable lease payments and sale and leaseback transactions. For 2018, journal entry examples are added throughout the course. In addition, there is a new chapter that addresses the business context of implementing the new standard and the differences between ASU No. 2016-02 and IFRS 16.

Learning Objectives

  • 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.
  • Prepare journal entries

Key Topics

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

Who Will Benefit

  • Accountants in practice and industry

System Requirements

About the Authors

Daryl G. Krause, CPA

Daryl G. Krause, CPA is Manager & CEO of DG Krause LLC in Columbus, Indiana. He is also certified and practices in Illinois, Kentucky, Michigan, Ohio and Wisconsin. He previously spent 23 years with Ernst & Young where he served in their National Professional Development group as a Senior Manager for 5 years. Roles included designing, developing and delivering core curriculum Audit and Entrepreneurial Services training programs for the entire U.S. practice. He has served industries included manufacturing, construction, real estate and financial services. Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years, responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area's engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work. As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes.

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.