Accounting for Leases
Field of Study:
Many U.S. companies have become heavily involved in leasing assets rather than owning them. For example, according to
the Equipment Leasing Association (ELA), the global equipment-leasing market is a $600-$700 billion business, with
the U.S. accounting for about one-third of the global market. Any type of equipment can be leased, such as railcars,
helicopters, bulldozers, barges, CT scanners, computers, and so on. The largest group of leased equipment involves
information technology equipment, followed by assets in the transportation area (trucks, aircraft, rail), and then
construction and agriculture. This course discusses the accounting, reporting, and disclosures of leases by lessees
and lessors. It includes a discussion of sale-leasebacks, subleases, renewals and extensions, terminations, leveraged
leases, and other issues.
After completing this course you will be able to:
- Recognize the advantages and disadvantages of leasing.
- Differentiate between the operating and capital lease method.
- Distinguish between operating, direct financing, and sales-type method.
- Recognize the key terms and costs included when accounting for leases.
- Compute leased asset and depreciation expense entries.
- Recognize differences between GAAP and IFRS when accounting for leases.
Basic to Intermediate
Type of delivery method:
Recommended CPE credits:
Final examination expiration date:
The program participant will have one year from the date of purchase to complete the course and final examination.
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