Table of Contents

Course Learning Objectives. 4

Course Description: 4

Chapter 1 - The New Lease Accounting Standards - Section 1. 7

Course Overview.. 7

Introduction. 7

What Drove the Change?. 7

The Final Revised Standard. 8

Standards Organization. 8

Chapter 1 - Section 1 Review Questions. 10

Chapter 1 - The New Lease Accounting Standards - Section 2. 11

Is an Arrangement a Lease?. 11

Illustrative Examples – Determining Whether a Contract Contains a Lease. 14

Lessee Lease Classification. 21

Chapter 1 - Section 2 Review Questions. 23

Chapter 1 - The New Lease Accounting Standards - Section 3. 24

Recognition and Measurement 24

Subsequent Measurement 25

Illustrative Example – Lessee Accounting. 26

Lessor Accounting. 27

Chapter 1 - Section 3 Review Questions. 30

Chapter 1 - The New Lease Accounting Standards - Section 4. 31

Lease Modifications. 31

Lease Modifications – Illustrative Examples. 33

Sale and Leaseback Transactions. 38

Sale and Leaseback – Illustrative Examples. 39

Chapter 1 - Section 4 Review Questions. 44

Chapter 1 - The New Lease Accounting Standards - Section 5. 45

Assets under Construction. 45

Presentation Requirements. 47

Disclosure Requirements. 48

Chapter 1 - Section 5 Review Questions. 52

Chapter 1 - The New Lease Accounting Standards - Section 6. 53

Transition Requirements. 53

IFRS Differences. 56

Private Company Considerations. 59

ASU No. 2018-11. 61

Chapter 1 - Section 6 Review Questions. 62

Solutions to Review Questions. 63

Chapter 1 - Section 1 Review Questions Feedback. 63

Chapter 1 - Section 2 Review Questions Feedback. 64

Chapter 1 - Section 3 Review Questions Feedback. 66

Chapter 1 - Section 4 Review Questions Feedback. 67

Chapter 1 - Section 5 Review Questions Feedback. 70

Chapter 1 - Section 6 Review Questions Feedback. 71

Glossary. 72

Index. 74

Final Examination. 76

CPASelfstudy.com Course Evaluation. 81