Leases: Mastering the New FASB Requirements
Tuesday, February 12, 2019
How do the leasing requirements in the new standard differ from current GAAP? This webcast addresses that by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. In this webcast, we provide you with examples to illustrate application of the new standard. We will also explain the lessee accounting model, so you understand lease classification, amortization of the right-of-use asset and interest on the lease liability. Likewise, you will explore the lessor accounting model, including transfer of risk, profit recognition and collectability. Additional topics include short-term leases, purchase options, variable lease payments and sale and leaseback transactions.
LEARNING OBJECTIVES When you complete this webcast, you will be able to:
Identify a lease under the new leases standard.
Identify recognition and measurement requirements of the new leases standard.
Identify presentation and disclosure requirements of the new leases standard.
Amortization of the lease asset
Derecognition of the underlying asset
Recognition of lease receivables