Checkpoint Learning

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Accounting for Leases  

CATEGORY: Accounting & Auditing
Online & Mobile, Download
10 CPE Credits
Level: Basic

Leveraged leases, real estate leases, lease classification. No matter what area of lease accounting you are involved with, this course offers expert guidance and instruction. A special section includes detailed presentation of accounting and reporting by lessees and lessors.

Also note that in February 2016, the FASB issued its standard on leases, ASC 842. For public companies, the new standard will be effective for fiscal years (and interim periods within those fiscal years) beginning after December 15, 2018; for private companies, the standard will be effective for annual periods beginning after December 15, 2019. Early adoption is permitted for all companies and organizations. Lessees and lessors are required to use a modified retrospective transition method for existing leases. Accordingly, they would apply the new accounting model for the earliest year presented in the financial statements.

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