- NY Credits : 2.0
- TX Credits : 2.0
This course discusses the authoritative pronouncements for leases, the advantages and disadvantages of leasing, lease terminology, classification and accounting for leases, the disclosure requirements of the lessee, and sale-leaseback transactions. The guidance issued in ASU 2016-02 and codified in ASC 842 is covered in these materials.
Upon successful completion of this course, the user should be able to:
describe the advantages and disadvantages of leasing,
summarize lease terminology,
classify and account for leases from the standpoints of the lessee and lessor,
describe disclosure requirements for lessees, and
discuss sale-leaseback transactions.