CCH Learning Center

Leases: GAAP Level A

Leasing is an important and complex financial area that has grown during the volatile economy of the past few decades. It is far less likely for a company to indefinitely own the real estate from which it operates, and more likely that a leasing agreement will exist, particularly during or after a merger or acquisition. GAAP for leases include the largest number of authoritative acounting pronouncments of any single subject in accounting literature.

This course will review pronouncements impacting accounting for leases. Practice pointers provide plain English pointers for applying standards just discussed. Observations enrich the discussion by presenting interesting aspects of GAAP, such as conflicts within the authoritative literature. Topics covered in this course include:

• Terminology
• Minimum lease payments
• Lease classification
• Changing a provision of a lease
• Accounting and reporting by lessees
• Accounting and reporting by lessors
• Leases involving real estate
• Sale-leaseback transactions
• Lease modifications
• Other lease accounting issues