Course

Lessee & Lessor Accounting

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Event Details

Thursday, August 25, 2022

8:00am – 9:40am
(Registration: 7:30am)

Location

Hilton Garden Inn

2465 Grant Rd

Billings, MT 59102

406-655-8800

Field of Study

  • Accounting

CPE Credit

2 hours CPE credit

Course Code

CL2LLA-11

Instructor

Level of Knowledge

Intermediate

Vendor

AICPA

Prerequisites

Experience in application of accounting standards.

Description

All materials will be electronic only

This course explains the lessee accounting model, including lease and non-lease components, lease classification, amortization of the right-of-use asset and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition and collectability. Included in this course are detailed illustrated examples with amortization tables and journal
entries.

Highlights

  • Lessee and lessor accounting models
  • Lease and nonlease components
  • Lease classifications
  • Initial and subsequent measurement of leases

Objectives

When you complete this course you will be able to:

  • Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842
  • Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842

Designed For

Accountants in practice and industry.

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