Accounting for Leases

2 Credits: Accounting


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Accounting for Leases

Course Level
CPE Credits

2 Credits: Accounting

Course Description

“Accounting for Leases” offers a detailed exploration of the latest lease accounting standards, tailored for finance professionals seeking to enhance their expertise in this complex area. The course’s features include an in-depth analysis of different lease components and types, comprehensive coverage of how to calculate and present lease liabilities and right-of-use assets, and insights into initial direct costs, sale and leaseback transactions, and essential disclosures. The benefits of this course extend beyond mere knowledge enhancement; it equips professionals with the skills to navigate the complexities of lease accounting confidently. Attendees will gain a profound understanding of lease accounting intricacies, ensuring accurate financial reporting and compliance with the latest standards, thereby enhancing their professional credibility and efficiency.

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Learning Objectives

Upon Completion of this course you will:
• Identify the reasons why a lease can be useful for a lessee.
• Specify the leasing rules related to asset substitution.
• Recognize the situations to which lease accounting does not apply.
• Recall the circumstances under which a separate lease component is considered to exist.
• Specify the different types of lease payments.
• Identify the special rules related to leases from government entities.
• Recall how the 12-month lease exception works.
• Identify the unique characteristics of sales-type and direct financing leases.
• Specify the restrictions on the use of the risk-free discount rate when deriving a lease present value.

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Course Specifics

Course ID
Revision Date
April 22, 2022

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. 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 …