Not every contract is a lease. You learn the identified-asset and control tests, and how to separate components. In this lesson Identified asset Right to control use Lease vs. non-lease components Put it into practice Test three sample contracts to decide if they contain a lease. Note: This is skills training. How the standards apply […]

Classification drives expense patterns. This lesson covers finance vs. operating lease classification under US GAAP and the single model for lessees under IFRS. In this lesson Classification criteria US GAAP vs. IFRS overview Impact on the income statement Put it into practice Classify three sample leases. Note: This is skills training. How the standards apply […]

Initial measurement sets the numbers. Learn lease term, payments, discount rates, and measuring the liability and right-of-use asset. In this lesson Lease term and options Discount rates Liability and ROU asset Put it into practice Calculate the lease liability for a sample lease. Note: This is skills training. How the standards apply to your entity […]

Leases change over time. You learn ongoing entries, modifications and remeasurement triggers. In this lesson Initial and ongoing entries Modifications Remeasurement events Put it into practice Prepare a year of journal entries for a sample lease. Note: This is skills training. How the standards apply to your entity depends on your facts, so confirm your […]

Reporting depends on good data. This lesson covers disclosure basics and building a lease inventory and controls. In this lesson Disclosure basics Lease inventory and abstracts Controls and review Put it into practice Design a lease inventory spreadsheet. Note: This is skills training. How the standards apply to your entity depends on your facts, so […]