Lease Accounting Deep Dive - Unlocking the Key Principles of ASC 842 (Text Based Course) 4 CPE

This course provides an in-depth overview of the lease accounting standards prescribed by ASC 842. This includes a discussion of how to identify a lease within a contract and how to classify a lease. This course also provides an in-depth review of the initial measurement, subsequent measurement, and presentation & disclosure of leases.

Prerequisites

No advanced preparation or prerequisites are required for this course.

Learning Objective

• Recognize how the new leasing standard has evolved and how the new standard is organized.
• Discover and determine whether an arrangement contains a lease.
• Identify considerations with respect to substitution rights and decision-making rights.
• Identify the criteria for the new finance lease and short-term leases.
• Recognize the new recognition and measurement requirements for both lessees and lessors.
• Identify the recognition criteria for sales-type, direct financing, and operating leases.
• Identify the overall requirements with respect to lease modifications.
• Identify the criteria used for sale and leaseback transactions.
• Identify the considerations with respect to a lessee’s involvement in construction of a leased asset.
• Identify the presentation requirements for both lessees and lessors.
• Recognize both qualitative and quantitative disclosure requirements for both lessees and lessors.
• Identify the effective date for the new lease accounting standards.
• Identify the significant differences between ASC 842 and IFRS 16.
• Recognize considerations of and alternatives provided to private companies.

Last updated/reviewed: March 04, 2025