Financial Reporting Issues

Topic 842, Leases, An Overview Of Lessee Accounting

This course provides an overview of Topic 842, Leases. This includes considerations for identifying whether a contract contains a lease, the transactions in the scope of Topic 842, as well as lessee classification and measurement principles. Additionally, the course provides a overview of the presentation and disclosure requirements for lessee transactions.

Learning Objectives:

  • Identify whether a contract contains a lease.
  • Identify transactions within the scope of Topic 842.
  • Differentiate between finance and operating lease classifications.
  • Determine the accounting for the initial and subsequent measurement of leases by the lessee.
  • Identify the presentation and disclosure requirements for lessees.
  • Identify the effective date of Topic 842.

Prerequisites/Advanced Preparation:


Speaker / Author:

John M. Fleming, CPA, MBA, is currently the Director, Content Development for SmartPros LTD, a division of Kaplan Professional Education. SmartPros is an international educational and training company specializing in accounting, finance and ethics educational programs. John previously served as President and Director of Accounting and Auditing for LOSCALZO ASSOCIATES, a division of SmartPros for twenty-eight years. John retired as President of Loscalzo Associates on January 1, 2014.

John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA) and currently serves as a member of the Institute’s Accounting and Auditing Technical Committee. In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

John and his wife Marge live in Medford, New Jersey.


Price (USD)

Standard: $49.90


Course Code : 99FLE32-V2

Release Date : 02/23/2021
Expire Date : 02/28/2023
Credits :
CPE 2.00
QAS 2.00

Course Level : Basic
Length : 1hr 40min
Course Type : QAS Self-Study

Passing Grade : 70%
Format Type : eLearning
Mobile Compatible
Field Of Study : Accounting
Theme : Financial Reporting Issues

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