Key aspects of FASB ASC 842, Leases, including lease modifications, sale and leaseback transactions, and leveraged leases are covered for practitioners looking to understand FASB requirements. FASB ASC 842, *Leases*, standards decoded By learning essential information about lease accounting requirements, you’ll understand the core principles of the standards and how to apply them. You’ll explore topics such as: - Identification - Recognition - Measurement - Presentation and disclosure requirements Deliberate application of lessee accounting model You’ll also learn about classifying leases, the amortization of the right-of-use asset, and the interest on a lease liability. Additional topics include: - Short-term leases - Purchase options - Variable lease payments - Sale and leaseback transactions - Leveraged leases Who Will Benefit Accountants and finance professionals Key Topics - Lease classification - Amortization of the lease asset - Derecognition of the underlying asset - Recognition of lease receivables - Lease modifications - Sale and leaseback transactions - Presentation and disclosure requirements Learning Outcomes - Recognize arrangements that meet the scope requirements for lease accounting under FASB ASC 842. - Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842. - Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842. - Recognize accounting requirements for lease modifications under FASB ASC 842. - Recognize accounting requirements for sale and leaseback transactions under FASB ASC 842. - Recognize presentation requirements for lessees and lessors under FASB ASC 842.