Lease Accounting: Core Concepts

2 Credits: Accounting


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Lease Accounting: Core Concepts

Course Level
CPE Credits

2 Credits: Accounting

Course Description

Prior to this self-study CPE course, the multifaceted aspects of lease accounting, from different lease types to the specifics of lease liabilities and disclosures, might seem overwhelming. “Lease Accounting: Core Concepts” serves as a bridge, transitioning you from uncertainty to clarity. The online CPE course provides comprehensive coverage of lease components, types, and accounting methods, as well as critical topics like lease liabilities, right-of-use assets, and lease-related disclosures. After completing this self-study CPE course, you will move from a state of apprehension to being well-versed in lease accounting, equipped to identify unique lease characteristics and apply the 12-month lease exception effectively. This newfound expertise will enable you to manage lease accounting with confidence, enhancing your value as a knowledgeable and reliable professional in the accounting and finance field.

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Learning Objectives

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

  • Identify the reasons why a lease can be useful for a lessee.
  • Note 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.
  • Note the different types of lease payments and the costs associated with them.
  • 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.
  • Note 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
October 5, 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 …