Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
This course provides participants with an in-depth review of the lease standard. The entire standard will be covered. The starting point will be the classification of a lease by the lessee and the lessor. The lessee coverage will include the method of accounting as operating or capital lease, presentation and disclosure. The lessor coverage will include the method of accounting as direct financing, sales-type or operating lease, impairment, presentation and disclosure. The topics of subleases, sale and leaseback transactions and leases involving land and buildings will be reviewed.
Participants will have the opportunity to review a number of exercises. In addition, the topics related to leases from the private entity advisory committee are reviewed. After attending this course, participants will have reviewed the classification of a lease, definitions, accounting and disclosure.
Topics Include:
- Introduction to Section 3065 - purpose and scope, definitions
- Classification of a lease
- Lessee capital or operating
- Lessor sales-type, direct financing or operating
- Lessee
- Method of accounting capital or operating
- Presentation
- Disclosure
- Lessor
- Method of accounting direct financing, sales-type or operating
- Impairment
- Presentation
- Disclosure
- Subleases
- Sale and leaseback transactions
- Leases involving land and buildings
- Current developments
- Relevant resources
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Key Takeaways
Upon completing this course, you will be able to:
- Explain the requirements of the lease standard Section 3065 for both lessee and lessor.
- Explain the impact of classification of lease and required note disclosure.
- Identify impact of rent concessions as a result of Covid-19.
- List relevant resources (with links).
Who Will Benefit
CPAs interested in understanding the implications of the lease standard including practitioners, financial analysts, and controllers responsible for lease accounting.
How to Access the Course
This is an online session. This course is available 24 hours a day, 7 days a week. Once registered, you can access the material at any time.
However, you will only have access to the course for 90 days after REGISTRATION.
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To access the course on your computer please visit our BlackBoard site, and log-in using the same login and password used for the Registration Portal.
Please allow up to 15 minutes after registration for the course to appear on your BlackBoard page.
Speaker(s)
Elizabeth J. Farrell, FCPA, FCA, is an Adjunct Professor at the Schulich School of Business. In recognition of her excellence in teaching she was selected as the winner of the Seymour Schulich Award for Teaching Excellence in 1999, 2003 and 2009 and nominated for the award in 2004, 2005, 2006, 2011 and 2015. She was selected as the winner of the John Peace Teaching Award in 2002 and 2012. Elizabeth served as assistant coordinator at CPA Ontario's School of Accountancy. She has taught executive development courses for the Schulich School of Business, professional development courses for CPA Ontario and firms. Elizabeth is a co-author of Intermediate Financial Accounting.