Accounting for Leases

Navigate the expanded lease accounting rules and apply the standard correctly. This course explains lease components, distinguishes among lease types for lessees and lessors, and walks you through the recognition and measurement of lease liabilities and right-of-use assets. Learn how to present these amounts in the financial statements and address initial direct costs, sale and leaseback transactions, and required disclosures. Build the technical expertise needed to manage complex lease arrangements under current standards.
Format

PDF Course

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Duration

2 Hours

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Course Information

Author: Steven Bragg
Course Number: AC1103

Learning Objectives
  • Identify the reasons why a lease can be useful for a lessee.
  • Specify the leasing rules related to asset substitution.
  • Recognize the situations to which lease accounting does not apply.
  • Recall the circumstances under which a separate lease component is considered to exist.
  • Specify the different types of lease payments.
  • Identify the special rules related to leases from government entities.
  • Recall how the 12-month lease exception works.
  • Identify the unique characteristics of sales-type and direct financing leases.
  • Specify the restrictions on the use of the risk-free discount rate when deriving a lease present value.

Level: Overview
Instructional Method: QAS Self-Study
NASBA Category: Accounting
Prerequisites: None
Advance Preparation: None
Latest Review Date: April 2025
Program Registration Requirements: Click on the Enroll button to pay for and access the course. You will then be able to download the course as a PDF file, then take an on-line examination, and then download a certificate of completion if you pass the examination.
Program Refund Policy: For more information regarding administrative policies concerning complaints, refunds, and other matters, see our policies page.

AccountingTools, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
The NASBA sponsor identification number for Accountingtools, Inc. is 115881.

AccountingTools is an IRS Approved Continuing Education Provider. We are compliant with the requirements for continuing education providers (as described in sections 10.6 and 10.9 of the Department of Treasury’s Circular No. 230 and in other IRS guidance, forms, and instructions). Our IRS Approved Continuing Education Provider number is 72821.