The last of a three-course series focused on ASC 842, Leases. Leasing is popular among companies for needs, including office space and equipment. This course addresses leasing from a lessor's perspective and the effective date and transition for both the lessor and lessee. Excerpts from public company disclosures will also be reviewed. Attendees should be familiar with the content from the first course, Leases: Is It a Lease?, and the second course, Leases: Lessees. ASC 842 Leases is now effective for most publicly traded entities. Private companies and nonprofit entities should be prepared as the effective date for annual reporting periods beginning after December 15, 2021. Early application is also permitted. Prepare your clients and entities for adoption.
Learning Objectives
- Recognize the lease at commencement under sales-type, direct financing, and operating leases, from the perspective of a lessor
- Calculate the subsequent measurement under sales-type, direct financing, and operating leases, from the perspective of a lessor
- Describe the presentation of the leases in the financial statements
- Identify the effective date for public and nonpublic entities
- Describe the transition requirements for both lessees and lessors
- Review excerpts from a selection of public companies' lease disclosures
Major Topics
- FASB ASC 842
- Leases and All recently released updates to ASC 842
- Leases
