US GAAP ASC 842 Lease Accounting






What you'll learn
 Leases – ASC 842 Overview
 Lease Accounting and Guidance
 Lease Classification
 Determination of Lease
 Lease Measurement
 Lease Modification
 Lease Contract Components
 Sale and leaseback Transaction
 Contract Combination
 Short Term lease
 Sub Lease
 Lease on Land Easement
 Statement of Financial Position
 Lease Disclosures
Requirements
Any person with basic accounting knowledge
Description
ASC 842 Lease Accounting: An In-Depth GuideMaster the principles of lease accounting under US GAAP ASC 842 with this comprehensive course. Whether you're an accountant, financial analyst, or business leader, this course provides the essential knowledge and practical insights to navigate lease accounting with confidence and ensure compliance with the latest standards.ASC 842 is a significant update to the way leases are accounted for and reported in financial statements. This course breaks down the complexities of the standard, helping you understand its impact on lease classification, measurement, disclosures, and more. By the end of the course, you'll gain a deep understanding of ASC 842 and how to apply it effectively in real-world scenarios.What You'll LearnOverview of ASC 842: Understand the key principles of lease accounting under the new standard.Lease Classification: Learn to distinguish between finance leases and operating leases based on criteria such as lease term, ownership transfer, and present value of lease payments.Lease Measurement: Get a step-by-step guide to calculating lease liabilities, right-of-use (ROU) assets, variable lease payments, and initial direct costs.Lease Modifications: Understand how to handle changes in lease terms, periods, and scope, along with accounting for modifications from both the lessee and lessor perspectives.Sale and Leaseback Transactions: Learn how to account for transfers of assets in sale and leaseback transactions under ASC 842.Lease Contract Components: Gain insights into how to separate lease and non-lease components and the impact on accounting.Special Topics: Explore complex scenarios such as short-term leases, subleases, and land easements.Explore Related TopicsAccounting, Finance & Accounting, Financial ReportingThis course includes detailed explanations, real-world examples, and practical exercises to ensure a thorough understanding of ASC 842. You'll also gain insights into how these lease accounting changes affect financial statements, including the statement of financial position, statement of comprehensive income, and cash flow statements.With this course, you'll be well-equipped to navigate the changes introduced by ASC 842 and ensure your financial reporting is accurate and compliant. Whether you're working in accounting, finance, or consulting, the knowledge gained here will help you stay ahead of the curve in lease accounting.Enroll now to build your expertise in ASC 842 and elevate your financial reporting skills!
Who this course is for
Any person with basic accounting knowledge
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https://www.udemy.com/course/us-gaap-asc-842-lease-accounting/

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