Lease Accounting – ASC 842
Learn about ASC 842 lease accounting standard with practical examples in Excel. Understand lease classification, accounting treatment, and transition from ASC 840. Ideal for accounting professionals and graduates.
1. Understanding of lease – ASC 842 (Including exclusions and exemptions)2. How to classify a lease?3. Overview of lease accounting in the books of lessee4. Calculation of Right of use asset, lease liability, initial direct costs and Lease advance payments5. Accounting treatment for sales tax involved in lease payments.6. Presentation of items in balance sheet, Income statement and Cash Flow7. Finance lease example – Preparation of schedules for Right of use asset and lease liability, Journal entries and ledger impact8. Operating lease example – Preparation of schedules for Right of use asset and lease liability, Journal entries and ledger impact9. Comparison of Finance lease and Operating lease based on above examples10. Transition from ASC 840 to ASC 842, Transition methods , Practical expedients and Effective dates11. Practical example on how to do transition from ASC 840 to ASC 842, Deferred rent, Preparation of schedules for Right of use asset and lease liability, Journal entries and ledger impact12. Major differences from ASC 840 to ASC 842Show moreShow lessThis course is all about the standard ASC 842 (US GAAP). In this course we covered about the basic understanding of lease, classification of lease, accounting of lease with practical examples in excel in the books of lessee, Transition from ASC 840 to ASC 842 along with example in excel and finally we covered the major differences from ASC 840 to ASC 842.Who this course is for:Accounting graduates, CPA, Accountants, CA, ICAEW, CWA, CMA, MBA
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