Leases: Mastering the FASB Requirements
Leases: Mastering the FASB Requirements provides a comprehensive overview of ASC 842 lease accounting, including recognition, measurement, and financial reporting requirements. This course helps accounting professionals understand lease classification, right-of-use assets, and lease liabilities while offering practical insights to confidently navigate complex lease transactions.
CPE Credit
9.0 Hours
DELIVERY METHOD
Self-Study (On Demand)
LEVEL
Intermediate
PREREQUISITES
None
PRICING
$119.50 per year
Course Description
Leases: Mastering the New FASB Requirements is designed to help accounting professionals understand and apply the updated lease accounting guidance under FASB ASC 842. The course breaks down the standard into clear, actionable concepts, including identification, recognition, measurement, and disclosure requirements.
Through hands-on examples and journal entries, participants will explore both lessee and lessor accounting models, along with key transaction types such as lease modifications and sale-leaseback arrangements. This course equips professionals with the practical tools needed to implement and maintain compliance with current lease accounting standards.
What You’ll Learn
By the end of this course, you will be able to:
- Understand the core principles of lease accounting under FASB ASC 842
- Identify leases and determine appropriate recognition and measurement approaches
- Apply lessee and lessor accounting models, including operating and finance leases
- Analyze lease classification and the treatment of right-of-use assets and liabilities
- Evaluate accounting for lease modifications and sale-leaseback transactions
- Interpret presentation and disclosure requirements for financial reporting
Who This Course Is For
This course is designed for:
- CPAs working in public accounting or industry
- Accountants responsible for financial reporting and compliance
- Auditors evaluating lease accounting and disclosures
- Financial professionals managing lease transactions and reporting
- Internal auditors assessing lease-related controls and risks
- Controllers and finance managers overseeing implementation of ASC 842
Key Topics Covered
- Lease identification, recognition, and measurement under ASC 842
- Lease classification (operating, finance, sales-type, and direct financing leases)
- Lessee accounting model, including right-of-use assets and lease liabilities
- Lessor accounting model, including revenue recognition and collectability
- Amortization of lease assets and interest on lease liabilities
- Lease modifications and reassessment requirements
- Sale and leaseback transactions and leveraged leases
- Presentation and disclosure requirements for lease reporting
- Short-term leases, purchase options, and variable lease payments
- Derecognition of underlying assets and recognition of lease receivables
Why This Course Matters
Lease accounting under FASB ASC 842 significantly impacts financial statements, disclosures, and compliance requirements. Understanding how to apply recognition, measurement, and reporting standards is essential for maintaining accurate financial reporting and avoiding regulatory risk.
A strong grasp of ASC 842 helps professionals improve audit readiness, enhance financial transparency, and make better-informed decisions when evaluating lease transactions. For additional guidance on lease accounting standards, professionals may refer to resources published by the Financial Accounting Standards Board (FASB).
Explore additional Accounting CPE Courses to further develop your expertise in financial reporting and lease accounting.
Pricing & Access
$119.50 per year — Unlimited CPE Access
When you enroll, you receive full access to all courses in our catalog for one full year, including this course and every other available offering.
Unlike many CPE providers, we do not charge by the credit hour and we do not impose course expiration dates. Once you’re enrolled:
- All courses are included — no per-course or per-credit fees
- Your access lasts for a full year from your enrollment date
- Your completed course certificates remain available in your portal
- You can complete courses at your own pace, on your own schedule
This single annual enrollment gives you the flexibility to earn CPE hours when you need them — without worrying about expiring credits or additional costs.
Frequently Asked Questions
Is this course NASBA-compliant?
Yes. This course meets NASBA CPE requirements.
How is the course delivered?
On-demand, self-study format with quizzes for knowledge checks.
Can I complete this course at my own pace?
Yes. You may start, stop, and resume the course as needed.
