myCPE
myCPE

All Courses, One Price. Unlimited Access and Many Benefits.

Subscribe $199

April Accelerate Sale 2024 : 67% Savings on Subscription. Offer Ends Soon! April Accelerate Sale 2024 :
67% Savings on Subscription. Offer Ends Soon!
00hrs : 00min : 00sec

View Offer

Lease Accounting Fundamentals 1 Credit

Lease Accounting Fundamentals 1 Credit

  • Rating

    4.5
  • Reviewed on

    February, 2024
  • Subject Area

    Accounting

Learning mode

  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Answer the polling questions
  • Get your certificate

Learning Objective

  • To analyze whether an arrangement contains a lease.
  • To list the criteria for lease classification.
  • To identify how leases are initially and subsequently measured.
  • To recognize impacts from lease modifications.
  • To identify presentation and disclosure requirements for lease transactions.

Course Overview

For many reporting entities, leasing is an important way to obtain access to the property. It allows lessees to finance the use of necessary assets, often simplifies the disposal of used property, and reduces a lessee’s exposure to the risks inherent in asset ownership. The accounting for leases is changing significantly. Thanks to the now required implementation of ASC 842, which demands that lessees record nearly all leases on their balance sheets, public businesses are now seeing their balance sheets “blowing up.”

In this CPE course speaker, Kelen Camehl provides a high-level overview of the accounting and reporting requirements related to leasing transactions as outlined in ASC Topic 842.

The new lease accounting standard, ASC 842 takes effect on December 15, 2021. This accounting standard aims to bring leases onto the balance sheet and increase transparency and visibility into an organization's lease assets. 

This online CPE accounting course is designed for addressing the process of determining whether an arrangement contains a lease and the resulting lease classification. It also addresses recognition requirements as well as some high-level presentation & disclosure topics.

  • 1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 1 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 1 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
  • 1 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 1 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 1 PL Credit of Accounting for Chartered Financial Analyst (CFA)
  • 1 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
  • 1 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
  • 1 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
  • 1 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
  • 1 CPE Credit of Accounting for Iowa Licensed Public Accountant (IA-LPA)
  • 1 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
  • 1 PL Credit of Accounting for CIPM
  • 1 CPE Credit of Accounting for Maine Licensed Public Accountant (ME-LPA)
  • 1 CPE Credit of Accounting for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Kelen is a recognized author and reviewer of CPE courses and has authored over 150 courses (370+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics.  His courses are available for purchase from many online CPE providers including the AICPA.  Kelen remained involved in CPA exam content development for nearly 10 years and authored more than a thousand multiple choice questions for various sections of the CPA exam.  He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".    

Kelen has nearly 20 years of progressive finance and accounting experience. He currently serves as a Principal in Accounting Policy with HP in Doha, Qatar.  Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

4.5

Excellent

Very Good

Average

Poor

Terrible

AM

Ann Murphy, CPA (US)

Overall, good summary of lease accounting

GM

George Mercuro, Accountant/Bookkeeper/Tax Professionals

The presentation and learning materials were concise and clear.

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

Exclusive
mobile app for
our unlimited access
subscribers

12 mins ago. Subscribed
Max purchased a subscription.
8 mins ago. Subscribed
Yuriy purchased a subscription.
8 mins ago. Subscribed
Alice purchased a subscription.
10 mins ago. Subscribed
Angela purchased a subscription.
5 mins ago. Subscribed
Ryan purchased a subscription.
9 mins ago. Subscribed
Jessica purchased a subscription.
6 mins ago. Subscribed
TOYOMI purchased a subscription.
10 mins ago. Subscribed
Sara purchased a subscription.
3 mins ago. Subscribed
Sandra purchased a subscription.
10 mins ago. Subscribed
Pavan purchased a subscription.
9 mins ago. Subscribed
Michael purchased a subscription.
8 mins ago. Subscribed
HEIDI purchased a subscription.
3 mins ago. Subscribed
Charles purchased a subscription.
4 mins ago. Subscribed
Francisco purchased a subscription.
9 mins ago. Subscribed
Krystal purchased a subscription.
10 mins ago. Subscribed
Rosa purchased a subscription.
9 mins ago. Subscribed
Jennifer purchased a subscription.
10 mins ago. Subscribed
Margot purchased a subscription.
10 mins ago. Subscribed
Nicole purchased a subscription.
10 mins ago. Subscribed
Michael purchased a subscription.
11 mins ago. Subscribed
Peter Wing Kit purchased a subscription.
4 mins ago. Subscribed
Kathy purchased a subscription.
8 mins ago. Subscribed
Melissa purchased a subscription.
13 mins ago. Subscribed
Malia purchased a subscription.
9 mins ago. Subscribed
Andy purchased a subscription.
2 mins ago. Subscribed
Ankit purchased a subscription.
9 mins ago. Subscribed
Stephanie purchased a subscription.
7 mins ago. Subscribed
Ryan purchased a subscription.
12 mins ago. Subscribed
BERT purchased a subscription.
14 mins ago. Subscribed
Whitley purchased a subscription.
7 mins ago. Subscribed
Kelly purchased a subscription.
4 mins ago. Subscribed
Carol purchased a subscription.
9 mins ago. Subscribed
Alli purchased a subscription.
7 mins ago. Subscribed
Niels Holger purchased a subscription.
4 mins ago. Subscribed
Rachelle purchased a subscription.
13 mins ago. Subscribed
Susan purchased a subscription.
8 mins ago. Subscribed
Shana purchased a subscription.
5 mins ago. Subscribed
Janet purchased a subscription.
12 mins ago. Subscribed
Lynette purchased a subscription.
4 mins ago. Subscribed
nashawna purchased a subscription.
11 mins ago. Subscribed
Larry purchased a subscription.
8 mins ago. Subscribed
Boyong purchased a subscription.
4 mins ago. Subscribed
Isis purchased a subscription.
14 mins ago. Subscribed
Merlyn purchased a subscription.
8 mins ago. Subscribed
Adrienne purchased a subscription.
4 mins ago. Subscribed
EDWARD purchased a subscription.
2 mins ago. Subscribed
Kimberly purchased a subscription.
4 mins ago. Subscribed
Amanda purchased a subscription.
10 mins ago. Subscribed
Betty purchased a subscription.
8 mins ago. Subscribed
Maria purchased a subscription.
5 mins ago. Subscribed
Fitsum Kebede purchased a subscription.
2 mins ago. Subscribed
Michael purchased a subscription.
8 mins ago. Subscribed
Tracee purchased a subscription.
7 mins ago. Subscribed
Eugene purchased a subscription.
9 mins ago. Subscribed
Doug purchased a subscription.
3 mins ago. Subscribed
Varsha purchased a subscription.
13 mins ago. Subscribed
MARSHA purchased a subscription.
3 mins ago. Subscribed
Austin purchased a subscription.
2 mins ago. Subscribed
santo purchased a subscription.
15 mins ago. Subscribed
Richard purchased a subscription.
4 mins ago. Subscribed
Joseph purchased a subscription.
6 mins ago. Subscribed
Shubham purchased a subscription.
6 mins ago. Subscribed
Daniel purchased a subscription.
4 mins ago. Subscribed
George purchased a subscription.
12 mins ago. Subscribed
Ross purchased a subscription.
7 mins ago. Subscribed
Eveline purchased a subscription.
4 mins ago. Subscribed
Jackie purchased a subscription.
9 mins ago. Subscribed
Nino purchased a subscription.
14 mins ago. Subscribed
Mackenzie purchased a subscription.
2 mins ago. Subscribed
June purchased a subscription.
7 mins ago. Subscribed
Cheryl purchased a subscription.
11 mins ago. Subscribed
Paz Coup Derek purchased a subscription.
13 mins ago. Subscribed
Anne purchased a subscription.
7 mins ago. Subscribed
Donna purchased a subscription.
8 mins ago. Subscribed
Judi purchased a subscription.
9 mins ago. Subscribed
Brett purchased a subscription.
3 mins ago. Subscribed
Aimee purchased a subscription.
13 mins ago. Subscribed
Katie purchased a subscription.
3 mins ago. Subscribed
Robert purchased a subscription.
11 mins ago. Subscribed
Christian purchased a subscription.
13 mins ago. Subscribed
Nathaniel purchased a subscription.
8 mins ago. Subscribed
Karla purchased a subscription.
6 mins ago. Subscribed
Kah Ann purchased a subscription.
14 mins ago. Subscribed
Jessica purchased a subscription.
7 mins ago. Subscribed
Lorrie purchased a subscription.
6 mins ago. Subscribed
Teresa purchased a subscription.
14 mins ago. Subscribed
Janice purchased a subscription.
7 mins ago. Subscribed
Misha purchased a subscription.
11 mins ago. Subscribed
Robyn purchased a subscription.
15 mins ago. Subscribed
Tilo purchased a subscription.
2 mins ago. Subscribed
Chaela purchased a subscription.
3 mins ago. Subscribed
Joel purchased a subscription.
11 mins ago. Subscribed
Jon purchased a subscription.
9 mins ago. Subscribed
Thomas purchased a subscription.
14 mins ago. Subscribed
Joe purchased a subscription.
8 mins ago. Subscribed
MAry Ellen purchased a subscription.
4 mins ago. Subscribed
CYNTHIA purchased a subscription.
4 mins ago. Subscribed
Jennifer purchased a subscription.
15 mins ago. Subscribed
David purchased a subscription.
3 mins ago. Subscribed
Bashir purchased a subscription.