What you'll learn:
- Understanding of leases
- Lease term
- Lease liability and Right of use of asset
- Discount rate
- Fixed and in-substance fixed lease payments
- Variable lease payments
- Guaranteed and Unguaranteed residual value
- Lessee accounting and disclosure
- Lease exemptions
- Lease classification
- Lessor accounting and disclosure
- Manufacturer and Dealer lessor
- Lease components
- Lease modification
- COVID - Rent concessions
- Sublease
- Sale and lease back
- Specific GAAP differences with ASC 842 and Ind AS 116
Hello and welcome to the course!
This course, on the new leasing standard, is designed for both beginners and professionals.
All the concepts and terms used in this standard are covered and explained right from scratch, so irrespective if you are familiar with lease accounting or not, this course will help you to gain full understanding from the very basics.
Concepts like lease definition, present value of lease payments, implicit rate of interest in the lease, etc. are explained very clearly.
Advance topics like understanding of multiple lease components, lease modification, Sublease, Sale and leaseback, Rent concession for COVID-19, etc. all are explained in a very simple and lucid manner.
Accounting entries for lessor and lessee along with disclosure in Statement of financial position, Statement of profit and loss, Statement of cash flow, and specific GAAP differences with ASC 842 and Ind AS 116, also form part of the learning objectives.
I have made this course so comprehensive that I can promise you that by the end of this course, you will have a clear understanding of all the terms and concepts used in this leasing standard.
