This course provides an in-depth overview of the assessment of whether or not an arrangement is or contains a lease. This includes a discussion of specific guidance prescribed by ASC Topic 842 as well as additional interpretive guidance provided several of the Big 4 accounting firms. This course also addresses the short-term lease exception available in ASC Topic 842.
Course Publication Date:
January 20, 2022
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$10.00!
| Author: | Kelen Camehl |
| Course No: | ACT-LEASE-8241 |
| Recommended CPE: | 1.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | None |
| Advanced Preparation: | None |
| Recommended Field of Study: | Accounting
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Learning Objectives
- Determine whether an arrangement is or contains a lease.
- Determine whether an arrangement includes an identified asset.
- Identify considerations with respect to substitution rights and decision-making rights.
- Recognize the short-term lease exception prescribed by ASC Topic 842.