This course is a general overview of the lease accounting changes to Financial Accounting Standard (FAS) 13 and International Accounting Standards (IAS) 16 & 17. It describes the upcoming changes and how you will record a real estate lease on your financial statements. It explains how the changes affect the Balance Sheet, Income Statement, and Cash Flow Statement. Finally, this course offers tips on how you can minimize the impact of the new rules.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- Identify key changes in how leases are recorded on the financial statements.
- Discover key elements of the new lease accounting rules.
- Recognize how to classify a lease under the new rules.
Last updated/reviewed: July 11, 2025
(0) Reviews
(84 rating)Lesson Questions and Answers0 Questions
There are no questions.
Answers to Frequently Asked Questions (FAQs)
Gabe Burke
CA
INTRODUCTION AND OVERVIEW
- Introduction to Overview of Lease Accounting Change 1:36
- What are the FASB, IASB, GAAP & IFRS? 2:14
- Common Terms & Rule Changes 5:30
- Balance Sheet & Lease Example 5:00
- Calculating Liability & Assets 6:45
- How to Amortize Our Assets 3:50
- Income Statement & Net Rent vs. Expenses 4:29
- Cash Flow, TI & SEIs 5:51
- Opertaing vs. Finance Lease & Sublease Loss 3:17
- Sales Leaseback Transactions & Minimizing Balance Sheet Impact 4:53
- Minimizing Income Statement & Conclusion 2:56
CONTINUOUS PLAY
Supporting Materials
- Slides: Overview of Lease Accounting Change PDF
- Overview of Lease Accounting Change Glossary/Index PDF
REVIEW AND TEST
- REVIEW QUESTIONS quiz
- FINAL EXAM exam
Ask the instructor a question about this lesson