Accounting for the New Lease Standard - ASU 2016-02
| Title: | Accounting for the New Lease Standard - ASU 2016-02 |
| Category: | Accounting and Auditing |
| Field of Study: | Accounting |
| Course Code: | A017-0263 |
| CPE Credits: | 8.0 |
| Price: | $59.95 |
| Buy |
Description:
The purpose of this course is to review the changes made to lease accounting by ASU 2016-02, Leases, (as further amended by ASU 2018-01, Land Easement- Practical Expedient for Transition to Topic 842, and numerous other amendments), and to establish the principles that lessees and lessors shall apply to report useful information to users of financial statements about the amount, timing, and uncertainty of cash flows arising from a lease. Topics include a review of the new rules for lessees and lessors, the types of leases, how to account for the balance sheet, income statement and cash flows statement impacts of different types of leases, the implementation requirements, and more.
Delivery Method: Online Interactive Self Study
Level: Overview
Prerequisites: None
Advanced Preparation: None
Policies: Click here
Author: Steven C. Fustolo
Category: Accounting and Auditing
Field of Study: Accounting
Passing Score: 70%
Publication Date: 01/27/2020
Technical Details: Accounting is a technical field of study.
For More Detail: Click here
If you are unable to view PDF then right click the mouse and click save link as
Objectives:
Recognize a key change made to GAAP by the new lease standard
Identify a type of lease that exists for a lessee under ASU 2016-02
Recall a type of lease for which the ASU 2016-02 rules do not apply
Recognize some of the criteria that determine whether a contract is or is not a lease
Identify some of the types of economic benefits a lessee can obtain from a leased asset
Recognize a right that ASU 2016-02 states does not prevent a lessee from having the right to direct use of an identified asset
Identify a threshold for a lease term to be considered a major part of an asset's remaining economic life
Recognize who an entity might not want to use the risk-free rate to compute the present value of lease payments
Identify how a lessee should account for initial direct costs
Recognize items that are and are not components of a lease term
Recall the method a lessee should use to record interest expense on a lease obligation
For More Objectives:
Click here
If you are unable to view PDF then right click the mouse and click save link as
