"Accounting for Leases" offers a detailed exploration of the latest lease accounting standards, tailored for finance professionals seeking to enhance their expertise in this complex area. The course's features include an in-depth analysis of different lease components and types, comprehensive coverage of how to calculate and present lease liabilities and right-of-use assets, and insights into initial direct costs, sale and leaseback transactions, and essential disclosures. The benefits of this course extend beyond mere knowledge enhancement; it equips professionals with the skills to navigate the complexities of lease accounting confidently. Attendees will gain a profound understanding of lease accounting intricacies, ensuring accurate financial reporting and compliance with the latest standards, thereby enhancing their professional credibility and efficiency.
Learning Objectives
Upon Completion of this course you will:
• Identify the reasons why a lease can be useful for a lessee.
• Specify the leasing rules related to asset substitution.
• Recognize the situations to which lease accounting does not apply.
• Recall the circumstances under which a separate lease component is considered to exist.
• Specify the different types of lease payments.
• Identify the special rules related to leases from government entities.
• Recall how the 12-month lease exception works.
• Identify the unique characteristics of sales-type and direct financing leases.
• Specify the restrictions on the use of the risk-free discount rate when deriving a lease present value.
Major Topics
Nature of a Lease
Lease Components
Initial Direct Cost
Lease Consideration
Lease Term
Initial Measurement of Lease Payments
Subsequent Measurement of Lease Payments
Types of Leases
Asset and Liability Recognition
Initial Measurement
Lease Recognition Topics
Variable Lease payments
Lease Modifications
Elections
Sale and Leaseback Transactions
Lease Presentation
Lease Disclosures
