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CPE Self-Study
Leases: Mastering the New FASB Requirements
NASBA FIELD OF STUDY
Accounting
LEVEL
Intermediate
CPE CREDITS
Online: 8.0
An in-depth look at the new leases standard, FASB ASC 842, covering identification, recognition, measurement, and presentation and disclosure requirements.

CPE On-Demand
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Product details

Master the latest FASB requirements.

Who Will Benefit?

  • Accountants in practice and industry

Key Topics

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

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.

FASB ASC 842 requires organizations to recognize lease assets and liabilities on the balance sheet and to disclose key information about lease arrangements.

This self-study course provides an in-depth look at the new leases standard, FASB ASC 842, covering identification, recognition, measurement, and presentation and disclosure requirements.

Both the lessee and lessor accounting models, as well as short-term leases, purchase options, variable lease payments, and sale and leaseback transactions are addressed. Also included is a chapter that examines the differences between FASB ASU No. 2016-02 and IFRS 16.

Updates in 2019

This 2019 edition includes lease amortization schedules to illustrate existing examples of a lessee's accounting for finance and operating leases, as well as lease modifications. Other changes for 2019 include conforming updates in response to FASB's issuance of ASU No. 2018-11, which amended requirements for transition and separating components of a contract.

Ratings and reviews
Author(s)

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.

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.

Price:
$189.00
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Estimated total:
$189.00
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CREDIT INFO
CPE credits
Online
: 8.0
NASBA Field of Study
Accounting
Level
Intermediate
Prerequisites
Experience in the application of accounting standards
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
LEAS
GROUP PRICING
Contact a representative for group pricing.
Telephone: 800.634.6780 (Option 1)
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