This course offers a concise overview of ASC 842 lease accounting standards, covering how to identify and classify leases. It also reviews the initial and subsequent measurement, as well as the presentation and disclosure requirements for leases.

Learning Objectives
  • Discover and determine whether an arrangement contains a lease as well as how to classify that lease.
  • Recognize the recognition and measurement requirements for both lessees and lessors.
  • Identify the classification criteria for sales-type, direct financing, and operating leases.
  • Identify the overall requirements for lease modifications.
  • Recognize the criteria used for sale and leaseback transactions.
  • Identify the presentation requirements for both lessees and lessors.
Last updated/reviewed: February 19, 2025
16 Reviews (75 ratings)

Reviews

5
Member's Profile
This course provided a good overview and refresher on the ASC842 lease standards. The examples were effective in elaborating on the material. As a Controller, this course was useful. Accounting managers/Controller level benefits from this course.
5
Anonymous Author
Well written material that I could use as a supplemental reference in addition to the actual text wording verbatim from the ASC standard that I could always go back to during my actual work as an accountant in the actual practice may it be professional service setting or in the industry.
5
Anonymous Author
I liked the nuanced detail included in the training materials. Calculating a liability and asset is not all that hard, but knowing exactly the pieces and parts that get us to the appropriate result is crucial. This course did a fine job at emphasizing that.
5
Anonymous Author
This course is useful with my company implementing the new lease standards. The PDF material is well organized. I found the review questions at the end of each topic are also helpful.
3
Member's Profile
There is no mention of economic growth companies and results of covid. It was great to have all of the examples, but as a text-based course, would expect it to be more comprehensive.
5
Member's Profile
Good topic. I would recommend this course to other fellow CPA's looking to complete CPE hours. Very effective at getting the point across.
4
Anonymous Author
This course was very helpful in understanding Lease Accounting and Reporting. I now have a basis to delve deeper into leases.
4
Anonymous Author
Gave a lot of good info on the basics but still had implementation material and we are past that.
5
Anonymous Author
Thorough course on lease accounting and reporting, not light subject matter. Very informational.
5
Anonymous Author
great outline with bullet points on how to measure the right-of-use asset and lease liability
4
Member's Profile
The course content is useful for reference in practical implementation of ASC 842
5
Anonymous Author
Very high level summary - good CPE, but wouldn't rely as definitive guidance.
5
Member's Profile
A straight-forward survey of the basics for ASC 842 reporting and adoption.
5
Member's Profile
this is a great resource to help me implement the standard
5
Anonymous Author
I enjoyed this course, and I found it very informative.
5
Member's Profile
Good course on the leasing standard. Good materials.
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Prerequisites
Course Complexity: Intermediate

No advanced preparation or prerequisites are required for this course.

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview CPE
Course Syllabus
SUPPORTING MATERIAL
  Lease Accounting Simplified – What You Need to Stay Compliant PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam