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Lessee Accounting: Identification, Classification and Recognition (Course Id 2018)

QAS / Registry
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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 :
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

Upon completion of this course, you will be able to:
  • Determine whether an arrangement contains a lease
  • Recognize considerations with respect to substitution rights and decision-making rights
  • Identify the criteria for lease classification
  • List the recognition requirements related to operating and finance leases
Course Contents :

Chapter 1 - Lessee Accounting: Identification, Classification and Recognition

Course Learning Objectives

Course Overview


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


Classification as a Finance Lease

Classification as an Operating Lease

Review Questions

Part III - Recognition

Subsequent Measurement

Illustrative Example Lessee Accounting

Review Questions


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