DESCRIPTION
This module prepares participants to audit leases accounted for under ASC 842. In addition to covering the key concepts in ASC 842, participants will work through several case studies related to determining whether a contract contains a lease, as well as a lessee- and a lessor-focused case study.
LEARNING OBJECTIVES
- Explain how to analyze simple leases and verify the proper accounting treatment from the lessee’s perspective
- Identify appropriate lease disclosures for operating and capital leases
- Apply key concepts in ASC Topic 842
- Analyze leases and verify the proper accounting treatment from the lessee and lessor perspectives
