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| Author : | Kelen Camehl, CPA, MBA |
| Course Length : | Pages: 14 ||| Word Count: 8429 ||| Review Questions: 3 ||| Final Exam Questions: 5 |
| CPE Credits : | 1.0 |
| IRS Credits : | 0 |
| Price : | $12.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - Technical - NASBA Registry |
| Primary Subject-Field Of Study: | Accounting - Accounting for Course Id 2018 |
| Description : | This course provides an overview of the accounting for lease transactions, specifically from the standpoint of a lessee. This includes a discussion of how to determine if an arrangement/contract is a lease, how to classify the identified lease (e.g., operating vs. finance) , as well as how to recognize and measure the various components of the lease. |
| Usage Rank : | 0 |
| Release : | 2022 |
| Version : | 1.0 |
| Prerequisites : | None. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
What Is a Lease?
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| Advance Preparation : | None. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 12-Dec-2022 |
| 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 - Text - Technical - NASBA Registry - 2018 |
| Keywords : | Accounting, Lessee, Identification, Classification, Recognition, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives
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| Course Contents : | Chapter 1 - Lessee Accounting: Identification, Classification and Recognition Course Learning Objectives Course Overview Introduction Part I - Identification Do I Even Have a Lease? Has an Asset Been Identified in the Contract? What About Substitution Rights? Review Questions Right to Substantially All of the Economic Benefits Right to Control Use of the Asset Evaluation of Decision-Making Rights What About Short-Term Leases? Examples from ASC 842 – Determining Whether a Contract Contains a Lease Part II - Classification Introduction Classification as a Finance Lease Classification as an Operating Lease Review Questions Part III - Recognition Subsequent Measurement Illustrative Example – Lessee Accounting Review Questions Glossary |
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