Lease Accounting - ASC 842

Dive into a comprehensive understanding of ASC 842, the current US GAAP standard for leases. This course provides a solid foundation in lease accounting, covering everything you need to know.

Here's what you'll learn:

• Lease Fundamentals: Gain a basic understanding of what constitutes a lease under ASC 842.
• Lease Classification: Master the process of classifying different types of leases – finance vs. operating leases – a crucial step in proper accounting.
• Lessee Accounting: Learn how to accurately account for leases in the books of the lessee, with practical, hands-on examples using Excel.
• Transition from ASC 840: Understand the significant changes brought about by the shift from the previous lease accounting standard, ASC 840, to ASC 842. We'll walk through the transition process with practical Excel examples.
• Key Differences between ASC 840 & 842: Identify and analyze the major differences between the two standards, ensuring you're equipped to navigate the complexities of lease accounting.

This course equips you with the knowledge and practical skills to confidently handle ASC 842 compliance.