The Impact of Lease Changes: ASU 2016-02

Authored by Pat Patterson
About this Course
Upon completion of this course, you should be able to: Identify the FASB pronouncements that may impact entities with leases or that expect to have or issue leases; Evaluate the new Accounting Standards Codifications issued as ASU 2016-02 and other updates; Recognize ideas for implementation plans for compliance with the new requirements; Differentiate the new leasing standards and which ASC Topics are superseded; Recognize the sequence of questions need to be considered when determining whether an arrangement contains a lease; Identify principal differences from previous lease guidance; Describe the requirements a transaction must meet within ASC Topics; Identify the steps in getting started with a lease project; Differentiate whether to apply a strategic or tactical approach when getting started with your lease project; Recognize who is excluded from the new guidance prescribed by ASC 842; Identify the assessments to be performed when determining whether or not a contract contains a lease; Define the duration of a short-term lease; Recognize what a lessee is required to report at the commencement date of a lease; Differentiate the types of leases utilizing a single lease cost for income statement recognition; Identify when the new lease accounting standards are effective for various entities; Recognize the transition method applied under the new lease accounting standards.
$ 45.00
Course is unavailable for purchase.
NASBA Field of Study
Accounting
Level
Update
CPE Credits
2.0
Prerequisites
Familiarity with Generally Accepted Accounting Principles and Leases.
Last Updated
10/03/2017
11569