This course provides a high-level overview of the accounting and reporting requirements related to lease transactions as outlined in ASC Topic 842. This course addresses the process of determining whether an arrangement contains a lease and the resulting lease classification. This course also addresses recognition requirements as well as some high-level presentation & disclosure topics.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- Explore and determine whether an arrangement contains a lease.
- Discover and list the criteria for lease classification.
- Identify how leases are initially and subsequently measured.
- Recognize impacts from lease modifications.
- Identify presentation and disclosure requirements for lease transactions.
Last updated/reviewed: March 27, 2024
(0) Reviews
(66 rating)Lesson Questions and Answers0 Questions
There are no questions.
Answers to Frequently Asked Questions (FAQs)
Kelen Camehl
CPA, MBA
INTRODUCTION AND OVERVIEW
- Introduction to Lease Accounting Fundamentals
- What is Lease and Identification of An Asset 9:22
- Final Lease Assessment and Lease Classification 5:50
- REVIEW QUESTIONS quiz
- Initial and Subsequent Measures of Leases 7:10
- Lessor Accounting and Lease Modification 5:54
- Presentation Requirements and Financial Statement Disclosures 5:29
- Conclusion 0:34
- REVIEW QUESTIONS quiz
CONTINUOUS PLAY
SUPPORTING MATERIAL
REVIEW AND TEST
- FINAL EXAM exam
Ask the instructor a question about this lesson