Course

The Bottom Line on the New Lease Accounting Requirements

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Event Details

Wednesday, August 8, 2018

12:30pm – 4:00pm
(Registration: 12:00pm)

Location

Billings Hotel & Convention Center

1223 Mullowney Ln

Billings, MT 59101-6301

406-248-7151

Field of Study

Accounting

CPE Credit

4 hours CPE credit

Course Code

CL4LEAS-09

Instructor

Level of Knowledge

Intermediate

Vendor

AICPA

Prerequisites

Experience in application of accounting standards.

Description

How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by focusing on the basic core principles of the new standard. Discussion includes basic identification, recognition, measurement, presentation and disclosure requirements. Case study exercises are included to illustrate application of the new standard. This course discusses the lessee accounting model, including lease classification, amortization of the right-of-use asset and interest on the lease liability. This course also discusses the lessor accounting model, including profit recognition and collectability.

Highlights

  • Lease classification
  • Amortization of the lease asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables

Objectives

  • Differentiate between requirements under the current and new leases standards.
  • Compare current lease recognition and measurement requirements to those of the new leases standard.
  • Identify presentation and disclosure requirements of the new leases standard.

Designed For

Accountants in practice and industry.

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