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Course Details

Accounting for Leases - v06 (Course Id 1172)

New / QAS / Registry
Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 3.5
IRS Credits : 0
Price : $31.45
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 1172

Description :

Many U.S. companies have become heavily involved in leasing assets rather than owning them. For example, according to the Equipment Leasing Association (ELA), the global equipment-leasing market is a $1 trillion business, with the U.S. accounting for about one-third of the global market. Any type of equipment can be leased, such as railcars, helicopters, bulldozers, barges, CT scanners, computers, and so on. The largest group of leased equipment involves information technology equipment, followed by assets in the transportation area (trucks, aircraft, rail), and then construction and agriculture. This online accounting CPE course discusses the accounting, reporting, and disclosures of leases by lessees and lessors. It includes a discussion of sale-leasebacks, subleases, renewals and extensions, terminations, leveraged leases, and other issues.

Usage Rank : 0
Release : 2016
Version : 999
Prerequisites : Basic Accounting.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method :
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 04-Jan-2017
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 1172

Keywords : Accounting, Accounting, Leases, v06, cpe, cpa, online course
Learning Objectives :

Accounting for Leases Course Learning Objectives

After completing this course, you should be able to:
    1. Recognize the advantages and disadvantages of leasing.
    2. Recognize the most material difference between ASC 842 and current practice.
    3. Differentiate between the operating and capital lease method.
    4. Distinguish between operating, direct financing, and sales-type method.
    5. Recognize the key terms and costs included when accounting for leases.
    6. Compute leased asset and depreciation expense entries.
    7. Recognize differences between GAAP and IFRS when accounting for leases.
Course Contents :

Chapter 1 - Accounting for Leases

Course Learning Objectives



The Leasing Market


Operating Method

Capital Lease Method

Review Questions - Section 1

Capital Leases - Continued

Review Questions - Section 2


Operating Method

Direct Financing Method

Sales-Type Method

Residual Value Considerations

Transfer of Lease Receivable

Review Questions - Section 3


Subleases and Similar Arrangements

Modifications and Terminations

Renewals and Extensions

Leveraged Leases

Related Parties

Third Parties

Wrap Leases

Business Combinations

Disposal of a Business Segment

Real Estate Leases

Land Only

Land and Building

Land, Building, and Equipment

Portion of a Building

Sale-Leaseback Involving Real Estate


ASC, FASB, and Difference between GAAP and IFRS

A Snapshot of Key Differences between ASC 842 and IFR 16

Review Questions - Section 4

Appendix:  Present Value Tables


Accounting Course 1172 Home: https://www.cpethink.com/accounting-cpa-courses
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