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Leases: Mastering the New FASB Requirements (102-16)
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How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples are included to illustrate application of the new standard.

8/23/2016
When: August 23, 2016
7:30 AM - 3:45 PM
Where: UACPA Training Room
136 S Main Street Suite 510
Salt Lake City, Utah  84101
United States
Contact: April Deneault
801-466-8022


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Acronym LEAS16
CPE 8 hours
Category
Accounting & Auditing
Level Intermediate
Vendor AICPA
Who should attend

Accountants in practice and industry

Prerequisite
 Experience in the application of accounting standards
Fees: Early Bird
(through 8/12)
Standard
(after 8/12)
Member $257 $285
Non-Member: N/A
$340
 

AICPA Members receive an additional $30 off the price of this course. Use promo code AICPA8 at checkout to receive the discount.

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples are included to illustrate application of the new standard. This course explains the lessee accounting model, including 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. Additional topics include shortterm leases, purchase options, variable lease payments, and sale and leaseback transactions. Specific topics include:

  • Lease classification.
  • Differences between “Type A” and “Type B” leases.
  • Amortization of the lease asset.requirements of the new leases standard.
  • Derecognition of the underlying asset.
  • Recognition of lease receivables.

Objectives

  • Identify a lease under the new leases standard.
  • Determination of Major Programs
  • Identify recognition and measurement requirements of the new leases standard.
  • Identify presentation and disclosure requirements of the new leases standard.

 

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