2017 FASB -ASU 2016-02: Leases (Topic 842)
SKU: CPE-07-048
Credit Hours: 4
Level: Basic
Field of Study: Accounting
Requires Prerequisites or Advanced Preparation: No
Delivery Method: Online Video
After reading this course material, you will be able to:
- Recognize a key change made to GAAP by the new lease standard
- Identify a type of lease that exists for a lessee under ASU 2016-02
- Recall a type of lease for which the ASU 2016-02 rules do not apply
- Recognize some of the criteria that determine whether a contract is or is not a lease
- dentify a threshold for a lease term to be considered a major part of an assett'remaining economic life
- Identify how a lessee should account for initial direct costs
- Recall how a lessor should initially account for initial direct costs for a lease in certain instances
- Identify how a lessor should account for lease payments received on the income statement for an operating lease
- Recognize how certain existing leases are accounted for on the implementation date of ASU 2016-02
- Recall the potential impact that the new lease standard might have on a lessee's EBITDA and debt-equity ratios.