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Taxation & Financial Planning

New Developments in Lease Accounting
Rod Redding
Copyright© 2010

Course: 1103166   Version 1203

NASBA Category:     Accounting     CPE Credits 3
Level: Update    Run Time: 2.0 Hours
Prerequisite: Previous experience with Lease Accounting.
Advance Preparation: None.



Course Description
DROPPED 2/19/2013

Could it possibly be that most leases will soon be reported as capital leases and the debt shown on the balance sheet of the lessees?  In March, 2009, the FASB issued a discussion paper entitled “Leases:  Preliminary Views.”  Since then, the Board has continued development of new guidance on lease accounting and has recently released a proposed Accounting Standard Update with expected final guidance in the first quarter of 2011.  All indications are that most, if not all, lease agreements will be reported on the balance sheet at the inception of the lease.  Some studies have estimated that the result will be $5 trillion dollars of debt reported for leases that is presently off the balance sheet.  This course will provide an overview of the leasing project to assist preparers and users of financial statements for the anticipated new look for leases.

Table of Contents

Learning Objectives
Upon successful completion of this course, participants will be able to:
    • Understand and apply the historical lease accounting under FAS 13.
    • Utilize the proposed FASB accounting requirements in order to appropriately account for leases by lessees.
    • Utilize the proposed FASB accounting requirements in order to appropriately account for leases by lessors.
    • Apply the disclosure and transition guidelines in order to appropriately reflect lease transactions in the financial statement.
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