Leases: Mastering the New FASB Requirements
Joann Noe Cross,
University of Wisconsin-Oshkosh
How do the leasing requirements in the new standard differ from current GAAP? This course examines the core principles of the new standard, with examples to illustrate its application. Learn about the lessee accounting model, including lease classification, amortization of the right-of-use asset and interest on the lease liability. We’ll also discuss 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.