Leases - Mastering the New FASB Requirements
124 | Course | Intermediate | Scheduled
A Live Stream version of this event is available here.
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 with journal entries 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 short-term leases, purchase options, variable lease payments, and sale and leaseback transactions. In addition, this course addresses the business context of implementing the new standard by identifying key factors for managing this significant change.
|Number of Credits||Type of Credits|
Accountants in practice and industry
Experience in the application of accounting standards
- Lease classification
- Amortization of the lease asset
- Derecognition of the underlying asset
- Recognition of lease receivables
- Lease modifications
- Sale and leaseback transactions
- Presentation, disclosure and transition requirements
- Comparison of the requirements of U.S. GAAP and IFRS
- Private company consideration
- The business context for implementing the new standard
- 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
- Member (Early Bird)
- Non-Member (Early Bird)
John F. Georger, CPA, CIA
Jack F. Georger is the Partner-In-Charge of The Pun Group’s Las Vegas, Nevada Office and the Director of Assurance. By leveraging more than forty years of public accounting and auditing experience in the governmental, agribusiness, financial services, manufacturing, and non-profit sectors, Jack brings in-depth knowledge and practical expertise to each client engagement. Jack coordinates plans and manages financial-audit activities, consulting activities, federal- and state-compliance-audit activities, performance audits and numerous quality-control and internal-control reviews for a broad mix of governmental agencies and programs throughout the United States.
Jack is a continuing-professional-education-course instructor for the AICPA. Annually, he instructs over 300 hours on accounting and auditing subjects. He has co-authored training material in governmental accounting and auditing for the AICPA and is the technical reviewer of the CCH Knowledge-Based Audits™ of State and Local Governments with Single Audits.
Jack is licensed to practice as Certified Public Accountant in the states of California, New York, Virginia, Maryland, District of Columbia, Georgia, South Carolina, Connecticut (inactive), Missouri, Nevada, and Wyoming (inactive), and he is a Certified Internal Auditor (CIA).Back to Instructors