Lease accounting under FASB ASC 842 is now fully effective for all entities. Transitioning to new GAAP always leads to implementation issues and concerns. This course will answer the most common questions asked related to the latest lease accounting and financial reporting requirements after adoption and transition.
Learning Objectives
Upon completion of this course, participants will be able to:
List significant requirements of Topic 842 lease accounting and reporting
Recall answers to FAQ related to lease accounting and reporting after adoption.
Major Topics
Alternatives to adopting Topic 842
Short-term lease and related-party leasing arrangements
Identifying lease agreements under the new rules
Proper treatment of lease incentives, leasehold improvements, and lease modifications
