Prior to this self-study CPE course, the multifaceted aspects of lease accounting, from different lease types to the specifics of lease liabilities and disclosures, might seem overwhelming. "Lease Accounting: Core Concepts" serves as a bridge, transitioning you from uncertainty to clarity. The online CPE course provides comprehensive coverage of lease components, types, and accounting methods, as well as critical topics like lease liabilities, right-of-use assets, and lease-related disclosures. After completing this self-study CPE course, you will move from a state of apprehension to being well-versed in lease accounting, equipped to identify unique lease characteristics and apply the 12-month lease exception effectively. This newfound expertise will enable you to manage lease accounting with confidence, enhancing your value as a knowledgeable and reliable professional in the accounting and finance field.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Identify the reasons why a lease can be useful for a lessee.
Note 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.
Note the different types of lease payments and the costs associated with them.
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.
Note the restrictions on the use of the risk-free discount rate when deriving a lease present value.
Major Topics
Lease Components
Asset and Liability Recognition
Lease Recognition Topics
Variable Lease Payments
Lease Modifications
Elections
Sale and Leaseback Transactions
Lease Presentation
Lease Disclosures
