Self-Study
28
Overview
Accounting
There are no prerequisites.

Course Description

Business accounting in the United States is largely governed by generally accepted accounting principles (GAAP). The source documents for GAAP cover thousands of pages, so their heft alone makes them difficult to research. This course lightens the research chore by presenting the essential elements of GAAP in a single volume, with an emphasis on key accounting requirements and disclosures. These essential elements are closely supported by several hundred examples and tips.

This course also offers answers to many accounting questions that might otherwise require extensive research in the original GAAP source documents:

  • What is the proper presentation of a balance sheet?
  • What does an indirect method statement of cash flows look like?
  • How do I calculate diluted earnings per share?
  • What information must be included in interim financial statements?
  • How do I use the equity method to account for investments?
  • How do I use a cost layering system to account for inventory?
  • What is the process for testing intangible assets for impairment?
  • How do I account for fixed assets acquired in a business combination?
  • What is the correct accounting for a stock split?
  • When can I recognize revenue?
  • How do I account for a defined benefit pension plan?
  • How do I account for a business combination?


Instructor

Steven M. Bragg, CPA

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.

Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).



Course Specifics

Accounting
Dec 12, 2016
There are no prerequisites.
SS1163339
611
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1

  • Cite the accounting principles that underlie Generally Accepted Accounting Principles.

Chapter 2

  • Note the transactions related to discontinued operations, as well as the disclosures required for certain accounting transactions.

Chapter 3

  • Identify the account classifications used in the balance sheet, as well as the structure of the balance sheet.

Chapter 4

  • State the transactions included in and excluded from other comprehensive income.

Chapter 5

  • Note the different formats in which the income statement can be presented.

Chapter 6

  • Cite the contents of the sections of the statement of cash flows, and the differences in presentation for the different types of statements of cash flows.

Chapter 7

  • Recognize the disclosures required by the Securities and Exchange Commission.

Chapter 8

  • Identify the situations in which accounting changes are allowed, and note the mechanics of retrospective application of changes.

Chapter 9

  • State the methods used to derive current cost.

Chapter 10

  • Note the calculations for basic earnings per share and diluted earnings per share.

Chapter 11

  • Identify the assumptions that underlie the integral view and discrete view of interim reporting.

Chapter 12

  • Recognize the situations that can cause reportable risks and uncertainties.

Chapter 13

  • State the segment test rules used to determine reportable segments.

Chapter 14

  • Note the accounting treatment for lending arrangements and loan origination fees.

Chapter 15

  • Identify the accounting for impairment losses on equity and debt securities, as well as the accounting for these investments in the different investment classifications.

Chapter 16

  • Recognize how the equity method is formulated and updated.

Chapter 17

  • Cite how the periodic and perpetual inventory methods are used to derive the cost of goods sold, and how the gross profit method and retail method are used to estimate ending inventory.

Chapter 18

  • Recognize the rules for recognizing and disclosing deferred advertising costs, as well as the accounting for insurance contracts.

Chapter 19

  • Identify the situations in which goodwill is associated with reporting units, and note the rules for conducting impairment testing.

Chapter 20

  • Note the valuation method used for acquired fixed assets, as well as the calculations for the various depreciation methods.

Chapter 21

  • Identify the assessments and surcharges associated with insurance activities.

Chapter 22

  • State the accounting rules for deferring and recognizing asset retirement obligations.

Chapter 23

  • Note the circumstances under which the cost of employee and other contractual terminations can be recognized.

Chapter 24

  • Cite the characteristics of and reporting obligations associated with commitments.

Chapter 25

  • State the circumstances under which loss contingencies are recognized, and when they are only disclosed.

Chapter 26

  • Identify the methods used to place valuations on guarantees.

Chapter 27

  • State the components of debt, as well as the circumstances under which a debt arrangement is considered to be a troubled debt restructuring.

Chapter 28

  • Note the circumstances under which a spinoff occurs, and when a dividend is in arrears.

Chapter 29

  • Identify the evaluation criteria for a contract, the components of the transaction price, and when a contract modification triggers treatment as a new contract.

Chapter 30

  • Recognize the circumstances under which the costs of compensated absences are recognized and disclosed.

Chapter 31

  • State the key elements of net periodic pension cost, and the accounting for defined benefit and defined contribution plans.

Chapter 32

  • Note how costs are derived for exercised and unexercised stock options.

Chapter 33

  • Identify the proper expense recognition for insurance contracts and business process reengineering.

Chapter 34

  • State the types of activities classified as research and development, and how research and development costs are to be recognized.

Chapter 35

  • Recognize which tax rate to apply to a reporting period.

Chapter 36

  • Identify the types of acquisitions, and the types of intangible assets that can be recognized as part of an acquisition.

Chapter 37

  • Identify the situations in which a controlling financial interest cannot be determined, as well as the types of eliminations used when conducting a consolidation.

Chapter 38

  • Note the accounting for derivative speculation, and the classifications for hedges and investments. Recognize the methods used to measure hedge effectiveness.

Chapter 39

  • State the concepts upon which fair value measurements are derived.

Chapter 40

  • Cite the circumstances in which the fair value option can be applied, and the disclosures related to financial instruments.

Chapter 41

  • Note the accounting for payments to suppliers in foreign currencies, as well as how to identify a functional currency.

Chapter 42

  • Identify the situations in which interest capitalization can be used, and when an interest rate should be imputed.

Chapter 43

  • Identify the depreciation methodology for certain leased assets.

Chapter 44

  • Note the valuation alternatives in a nonmonetary exchange, and the usage rules for boot.

Chapter 45

  • Cite the types of entities considered to be related parties, and what information should be disclosed about them.

Chapter 46

  • State the types of events classified as subsequent events, and note which of these events can alter the financial statements.


Table of Contents

Chapter 1 – Introduction

Learning Objectives

Introduction

What is GAAP?

How this Book is Organized

How to Use this Book

Accounting Principles

Summary

Chapter 1 – Review Questions

Chapter 2 – Presentation of Financial Statements

Learning Objectives

Introduction

Related Chapters

Overview of the Presentation of Financial Statements

Presentation Disclosures

Liquidation Basis of Accounting

Liquidation Basis Disclosures

Going Concern Disclosures

Discontinued Operations

Discontinued Operations Disclosures

Summary

Chapter 2 – Review Questions

Chapter 3 – Balance Sheet

Learning Objectives

Introduction

Overview of the Balance Sheet

The Common Size Balance Sheet

The Comparative Balance Sheet

How to Construct the Balance Sheet

Offsetting

Treatment of Negative Cash

Balance Sheet Disclosures

Summary

Chapter 3 – Review Questions

Chapter 4 – Comprehensive Income

Learning Objectives

Introduction

Related Chapters

Overview of Comprehensive Income

Comprehensive Income Disclosures

Summary

Chapter 4 – Review Questions

Chapter 5 – Income Statement

Learning Objectives

Introduction

Related Chapters

Overview of the Income Statement

The Single-Step Income Statement

The Multi-Step Income Statement

The Condensed Income Statement

The Contribution Margin Income Statement

The Multi-Period Income Statement

How to Construct the Income Statement

Income Statement Disclosures

Summary

Chapter 5 – Review Questions

Chapter 6 – Statement of Cash Flows

Learning Objectives

Introduction

Overview of the Statement of Cash Flows

The Direct Method

The Indirect Method

How to Prepare the Statement of Cash Flows

Disclosures for the Statement of Cash Flows

Summary

Chapter 6 – Review Questions

Chapter 7 – Notes to Financial Statements

Learning Objectives

Introduction

Overview of Notes to Financial Statements

Summary

Chapter 7 – Review Questions

Chapter 8 – Accounting Changes and Error Corrections

Learning Objectives

Introduction

Related Chapters

Changes in Accounting Principle

Changes in Accounting Estimate

Changes in Reporting Entity

Correction of an Error in Previously Issued Financial Statements

Corrections Related to Prior Interim Periods

The Materiality of an Error

Accounting Changes and Error Corrections Disclosures

Change in Accounting Principle

Change in Accounting Estimate

Change in Reporting Entity

Error Corrections

Historical Summaries

Summary

Chapter 8 – Review Questions

Chapter 9 – Changing Prices

Learning Objectives

Introduction

Overview of Changing Prices

Inventory and Fixed Assets

Specialized Assets

Recoverable Amounts

Income from Continuing Operations

Restatement of Current Cost Information

Translation Adjustments

Purchasing Power Gains and Losses

Restatement Steps

Changing Prices Disclosures

Five-Year Summary

Other Current Year Disclosures

Other Disclosures for Mineral Resources Assets

Summary

Chapter 9 – Review Questions

Chapter 10 – Earnings per Share

Learning Objectives

Introduction

Basic Earnings per Share

Diluted Earnings per Share

Treasury Stock and Reverse Treasury Stock Methods

Treasury Stock Method

Reverse Treasury Stock Method

Disclosure of Earnings per Share

Summary

Chapter 10 – Review Questions

Chapter 11 – Interim Reporting

Learning Objectives

Introduction

Related Chapters

Overview of Interim Reporting

General Interim Reporting Rule

Variations from the Interim Reporting Rule

Changes in Accounting Principle in Interim Periods

Changes in Accounting Estimate in Interim Periods

Error Correction in Interim Periods

Adjustments to Prior Interim Periods

The Integral View

The Discrete View

Comparison of the Integral and Discrete Views

Disclosures for Interim Reporting

Summary

Chapter 11 – Review Questions

Chapter 12 – Risks and Uncertainties

Learning Objectives

Introduction

Related Chapter

Overview of Risks and Uncertainties

Risks and Uncertainties Disclosures

Summary

Chapter 12 – Review Questions

Chapter 13 – Segment Reporting

Learning Objectives

Introduction

Overview of Segment Reporting

Segment Disclosure

Segment Disclosure

Products, Services, and Customer Disclosure

Geographic Area Disclosure

Summary

Chapter 13 – Review Questions

Chapter 14 – Receivables

Learning Objectives

Introduction

Related Chapter

Notes Receivable

Acquisition, Development, and Construction Arrangements

Nonrefundable Fees and Other Costs

Loans and Debt Securities Acquired with Deteriorated Credit Quality

Troubled Debt Restructurings by Creditors

Classification of Government-Guaranteed Loans

Receivables Presentation

Receivables Disclosures

Summary

Chapter 14 – Review Questions

Chapter 15 – Investments – Debt and Equity Securities

Learning Objectives

Introduction

Related Chapters

Overview of Investments – Debt and Equity Securities

Accounting for Investments

Impairment of Investments

Equity Securities without Readily Determinable Fair Values

Dividend and Interest Income

Investment Disclosures

Summary

Chapter 15 – Review Questions

Chapter 16 – Investments – Equity Method and Joint Ventures

Learning Objectives

Introduction

The Equity Method

Partnerships, Joint Ventures, and Limited Liability Entities

Investment Disclosures

Summary

Chapter 16 – Review Questions

Chapter 17 – Inventory

Learning Objectives

Introduction

Overview of Inventory

The Periodic Inventory System

The Perpetual Inventory System

Inventory Costing

The First In, First Out Method

The Last In, First Out Method

The Weighted Average Method

Standard Costing

The Retail Inventory Method

The Gross Profit Method

Overhead Allocation

The Lower of Cost or Market Rule

Work in Process Accounting

Accounting for Obsolete Inventory

Consignment Accounting

Goods in Transit

Inventory Disclosures

Summary

Chapter 17 – Review Questions

Chapter 18 – Other Assets and Deferred Costs

Learning Objectives

Introduction

Related Chapters

Overview of Other Assets and Deferred Costs

Prepaid Expenses

Preproduction Costs for Long-Term Supply Arrangements

Capitalized Advertising Costs

Insurance Contracts that Do Not Transfer Insurance Risk

Other Assets and Deferred Costs Disclosures

Preproduction Costs for Long-Term Supply Arrangements

Capitalized Advertising Costs

Insurance Contracts that Do Not Transfer Insurance Risk

Summary

Chapter 18 – Review Questions

Chapter 19 – Intangibles – Goodwill and Other

Learning Objectives

Introduction

Related Chapters

Goodwill

Goodwill Amortization

General Intangibles Other than Goodwill

Internal-Use Software

Website Development Costs

Intangibles Disclosures

Summary

Chapter 19 – Review Questions

Chapter 20 – Property, Plant, and Equipment

Learning Objectives

Introduction

Related Chapters

Overview of Fixed Assets

Initial Fixed Asset Recognition

Fixed Assets Acquired through a Business Combination

Nonmonetary Exchanges

Depreciation and Amortization

Straight-Line Method

Sum-of-the-Years’ Digits Method

Double-Declining Balance Method

Depletion Method

Units of Production Method

Land Depreciation

Land Improvement Depreciation

Depreciation Accounting Entries

Fixed Asset Impairment

Fixed Asset Disposal

Assets Held for Sale

Abandoned Assets

Idle Assets

Fixed Asset Disposal Accounting

Fixed Asset Disclosures

General Fixed Asset Disclosures

Change in Estimate Disclosures

Intangible Asset Impairment Disclosures

Intangible Asset Disclosures

Not-for-Profit Fixed Asset Accounting

Initial Recognition of Fixed Assets

Restrictions on Contributed Assets

Valuation of Contributed Assets

Valuation of Contributed Services

Valuation of Art, Historical Treasures, and Similar Items

Depreciation of Fixed Assets

Summary

Chapter 20 – Review Questions

Chapter 21 – Liabilities

Learning Objectives

Introduction

Related Chapters

Extinguishments of Liabilities

Joint and Several Liability Arrangements

Insurance-Related Assessments

Prepaid Stored-Value Products

Liabilities Disclosures

Summary

Chapter 21 – Review Questions

Chapter 22 – Asset Retirement and Environmental Obligations

Learning Objectives

Introduction

Overview of Asset Retirement Obligations

The Initial Measurement of an Asset Retirement Obligation

Subsequent Measurement of an Asset Retirement Obligation

Settlement of an Asset Retirement Obligation

Overview of Environmental Obligations

Measurement of Environmental Obligations

Recoveries Related to Environmental Obligations

Asset Retirement and Environmental Obligations Disclosures

Asset Retirement Obligations

Environmental Obligations

Summary

Chapter 22 – Review Questions

Chapter 23 – Exit or Disposal Cost Obligations

Learning Objectives

Introduction

Overview of Exit or Disposal Cost Obligations

Exit or Disposal Cost Obligation Disclosures

Summary

Chapter 23 – Review Questions

Chapter 24 – Commitments

Learning Objectives

Introduction

Overview of Commitments

Summary

Chapter 24 – Review Questions

Chapter 25 – Contingencies

Learning Objectives

Introduction

Loss Contingencies

Gain Contingencies

Contingency Disclosures

Summary

Chapter 25 – Review Questions

Chapter 26 – Guarantees

Learning Objectives

Introduction

Overview of Guarantees

Guarantee Disclosures

Summary

Chapter 26 – Review Questions

Chapter 27 – Debt

Learning Objectives

Introduction

Related Chapter

General Debt Topics

Sales of Future Revenues

Increasing Rate Debt

Debt with Conversion and Other Options

Debt Instruments with Detachable Warrants

Convertible Securities

Beneficial Conversion Features

Interest Forfeiture

Induced Conversions

Conversion by Exercise of Call Option

Convertible Instruments Issued to Nonemployees as Payment

Contingent Conversion Option

Own-Share Lending Arrangements

Participating Mortgage Loans

Product Financing Arrangements

Debt Modifications and Extinguishments

Troubled Debt Restructurings by Debtors

Debt Presentation

Callable Debt

Classification of Debt that Includes Covenants

Debt Issuance Costs

Due on Demand Loans

Increasing-Rate Debt

Revolving Debt Agreements

Short-Term Obligations to be Refinanced

Subjective Acceleration Clauses

Own-Share Lending Arrangements

Participating Mortgage Loans

Troubled Debt Restructurings by Debtors

Debt Disclosures

Long-Term Obligations

Short-Term Obligations to be Refinanced

Own-Share Lending Arrangements

Participating Mortgage Loans

Other Debt Disclosures

Troubled Debt Restructurings by Debtors

Summary

Chapter 27 – Review Questions

Chapter 28 – Equity

Learning Objectives

Introduction

Related Chapters

Overview of Equity

The Sale of Stock

Dividend Payments

Stock Dividends and Stock Splits

Stock Dividend

Stock Split

Treasury Stock

Purchase of Treasury Stock

Resale of Treasury Stock

Cost Method

Constructive Retirement Method

Equity-Based Payments to Non-Employees

Initial Recognition

Spinoffs and Reverse Spinoffs

Equity Disclosures

Rights and Privileges

Preferred Stock

Contingently Convertible Securities

Redeemable Securities

Treasury Stock

Changes in Shareholders’ Equity

Equity-Based Payments to Non-Employees

Spinoffs and Reverse Spinoffs

Summary

Chapter 28 – Review Questions

Chapter 29 – Revenue Recognition

Learning Objectives

Introduction

The Nature of a Customer

Steps in Revenue Recognition

Step One: Link Contract to Customer

Step Two: Note Performance Obligations

Step Three: Determine Prices

Variable Consideration

Possibility of Reversal

Sales Taxes

Time Value of Money

Noncash Consideration

Payments to Customers

Refund Liabilities

Step Four: Allocate Prices to Obligations

Allocation of Price Discounts

Allocation of Variable Consideration

Subsequent Price Changes

Step Five: Recognize Revenue

Measurement of Progress Completion

Output Methods

Input Methods

Change in Estimate

Progress Measurement

Right of Return

Consistency

Contract Modifications

Treatment as Separate Contract

Treatment as Continuing Contract

Entitlement to Payment

Bill-and-Hold Arrangements

Consideration Received from a Supplier

Customer Acceptance

Customer Options for Additional Purchases

Licensing

Nonrefundable Upfront Fees

Principal versus Agent

Repurchase Agreements

Unexercised Rights of Customers

Warranties

Contract-Related Costs

Costs to Obtain a Contract

Costs to Fulfill a Contract

Amortization of Costs

Impairment of Costs

Exclusions

Revenue Disclosures

Summary

Chapter 29 – Review Questions

Chapter 30 – Compensation – General

Learning Objectives

Introduction

Related Chapters

Overview of Compensation

Compensated Absences

Deferred Compensation Arrangements

Lump-Sum Payments under Union Contracts

Compensation Disclosures

Summary

Chapter 30 – Review Questions

Chapter 31 – Compensation – Retirement Benefits

Learning Objectives

Introduction

Related Chapters

Overview of Retirement Benefits

Defined Benefit Plans

Expense Attribution for Delayed Vesting

Discount Rates

Settlements and Curtailments

Termination Benefits

Combined Pension Plans

Defined Contribution Plans

Presentation of Retirement Benefit Information

Retirement Benefit Disclosures

Defined Benefit Plan Disclosures for Public Companies

Defined Benefit Plan Disclosures for Private Companies

Disclosures for Defined Benefit Plans in Interim Periods

Disclosures for Defined Contribution Plans

Summary

Chapter 31 – Review Questions

Chapter 32 – Compensation – Stock Compensation

Learning Objectives

Introduction

Related Chapters

Overview of Stock Compensation

The Volatility Concept

Fair Value Calculation Alternatives

Awards Classified as Equity

Award Measurement Problems

Contingent Features

Award Modifications

Income Tax Effects

Awards Classified as Liabilities

Employee Share Purchase Plans

Stock-Based Compensation Disclosures

Summary

Chapter 32 – Review Questions

Chapter 33 – Other Expenses

Learning Objectives

Introduction

Related Chapter

Startup Costs

Insurance Costs

Retroactive Contracts

Claims-Made Contracts

Multiple-Year Retrospectively Rated Contracts

Contributions Made

Real and Personal Property Taxes

Advertising Costs

Electronic Equipment Waste Obligations

Business and Technology Reengineering

Other Expenses Disclosures

Insurance Cost Disclosures

Real and Personal Property Tax Disclosures

Advertising Cost Disclosures

Summary

Chapter 33 – Review Questions

Chapter 34 – Research and Development

Learning Objectives

Introduction

Related Chapters

Overview of Research and Development

Research and Development Disclosures

Summary

Chapter 34 – Review Questions

Chapter 35 – Income Taxes

Learning Objectives

Introduction

Related Chapters

Overview of Income Taxes

Accounting for Income Taxes

Tax Positions

Deferred Tax Expense

Applicable Tax Rate

Interest and Penalties

Intraperiod Tax Allocation

Taxes Related to Undistributed Earnings

Interim Reporting

Income Taxes Presentation

Income Taxes Disclosure

Balance Sheet

Income Statement

Other

Summary

Chapter 35 – Review Questions

Chapter 36 – Business Combinations

Learning Objectives

Introduction

Related Chapters

Overview of Business Combinations

Identifiable Assets and Liabilities, and Noncontrolling Interests

Goodwill or Gain from Bargain Purchase

Goodwill Calculation

Bargain Purchase

Reverse Acquisitions

Related Issues

Acquisition of Assets

Transactions between Entities under Control of Same Parent

Pushdown Accounting

Income Taxes

Business Combination Disclosures

General Disclosures

Identifiable Assets and Liabilities, and any Noncontrolling Interest

Goodwill or Gain from Bargain Purchase

Reverse Acquisitions

Transactions between Entities under Control of Same Parent

Income Taxes

Summary

Chapter 36 – Review Questions

Chapter 37 – Financial Statement Consolidation

Learning Objectives

Introduction

Related Chapter

Overview of Consolidations

Recognition of a Consolidation

Consolidation Examples

Recognition of Noncontrolling Interest

Sale of Shares by Subsidiary

Share of Accumulated Other Comprehensive Income

Full Consolidation Example

Consolidation of Variable Interest Entities

Initial Consolidation

Subsequent Consolidation

Consolidation of Leasing Entities by Private Companies

Consolidation of Contractually-Controlled Entities

Control of Partnerships

Termination of a Consolidation

Consolidation Presentation

Consolidation Disclosures

Summary

Chapter 37 – Review Questions

Chapter 38 – Derivatives and Hedging

Learning Objectives

Introduction

Other Comprehensive Income

Derivative Accounting

Hedge Accounting - General

Hedge Accounting – Fair Value Hedges

Hedge Accounting – Cash Flow Hedges

Hedge Accounting – Net Investment Hedges

Embedded Derivatives

Derivative and Hedging Disclosures

General Disclosures

Fair Value Hedge Disclosures

Cash Flow Hedge Disclosures

Summary

Chapter 38 – Review Questions

Chapter 39 – Fair Value Measurement

Learning Objectives

Introduction

The Fair Value Concept

Fair Value Differences from Actual Prices Paid

Fair Value Measurement Approaches

The Net Asset Value Variation

Fair Value Measurements for Liabilities

Use of Multiple Measurements

Fair Value Disclosures

Summary

Chapter 39 – Review Questions

Chapter 40 – Financial Instruments

Learning Objectives

Introduction

Related Chapters

Off-Balance Sheet Credit Risk

Fair Value Option

Registration Payment Arrangements

Financial Instruments Disclosures

Fair Value of Financial Instruments

Concentrations of Credit Risk of Financial Instruments

Market Risk of Financial Instruments

Fair Value Option

Registration Payment Arrangements

Separate Presentation of Financial Assets and Financial Liabilities

Summary

Chapter 40 – Review Questions

Chapter 41 – Foreign Currency Matters

Learning Objectives

Introduction

Related Chapters

Foreign Currency Transactions

Financial Statement Translation

Determination of Functional Currency

Translation of Financial Statements

Use of Average Exchange Rates

Hyperinflationary Effects

Derecognition of a Foreign Entity Investment

Foreign Currency Disclosures

Summary

Chapter 41 – Review Questions

Chapter 42 – Interest

Learning Objectives

Introduction

Overview of Capitalized Interest

Assets on Which to Capitalize Interest

Assets on Which Interest is not Capitalized

The Interest Capitalization Period

The Capitalization Rate

Calculating Interest Capitalization

Overview of Imputed Interest

Interest Disclosures

Capitalized Interest Disclosures

Imputed Interest Disclosures

Summary

Chapter 42 – Review Questions

Chapter 43 – Leases

Learning Objectives

Introduction

Related Chapter

Overview of Leases

Capital Lease Criteria

Lease Classification by Lessor

Lease Reassessment

Accounting for Leasehold Improvements

Special Lease Terms

Operating Leases

Operating Lease Treatment by Lessee

Operating Lease Treatment by Lessor

Capital Leases

Capital Lease Treatment by Lessee

Capital Lease Treatment of Sublease by Lessee

Capital Lease Treatment by Lessor (Sales-Type Lease)

Capital Lease Treatment by Lessor (Direct Financing Lease)

Capital Lease Treatment by Lessor (Leveraged Lease)

Capital Lease Treatment by Lessor (Broadly Applicable)

Sale-Leaseback Transactions

Sale-Leaseback Treatment by Lessee

Sale-Leaseback Treatment by Lessor

Lease Disclosures

Lessee Disclosures

Lessor Disclosures

Summary

Chapter 43 – Review Questions

Chapter 44 – Nonmonetary Transactions

Learning Objectives

Introduction

Related Chapter

Overview of Nonmonetary Transactions

Purchases and Sales of Inventory with the Same Counterparty

Barter Transactions

Exchanges Involving Monetary Consideration

Exchanges of a Nonfinancial Asset for a Noncontrolling Ownership Interest

Nonmonetary Transaction Disclosures

Summary

Chapter 44 – Review Questions

Chapter 45 – Related Party Disclosures

Learning Objectives

Introduction

Overview of Related Parties

Related Party Disclosures

Summary

Chapter 45 – Review Questions

Chapter 46 – Subsequent Events

Learning Objectives

Introduction

Overview of Subsequent Events

Subsequent Event Disclosures

Summary

Chapter 46 – Review Questions

Review Question Answers and Rationales

Glossary

Index

Qualified Assessment

Answer Sheet

Course Evaluation



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