2026 Leases Update

This online update course provides accounting and finance professionals with a clear, practical overview of the latest lease accounting and financial reporting requirements under ASC Topic 842. Designed as an annual update, the course focuses on common implementation challenges, recent clarifications, and ongoing application issues that continue to impact organizations across industries.

Participants will revisit the core framework of lease identification, classification, recognition, measurement, and disclosure for both lessees and lessors. Emphasis is placed on understanding the differences between operating and finance leases, evaluating contract terms that can significantly affect accounting outcomes, and properly presenting lease activity in the financial statements. The course also highlights differences between U.S. GAAP and IFRS lease guidance and reviews recent standard-setting updates and effective-date considerations. This program equips professionals with the knowledge needed to confidently apply lease accounting standards, evaluate financial statements containing leases, and remain compliant with current reporting requirements.

Who Should Attend
This course is designed for professionals who prepare, review, or rely on financial statements affected by lease accounting and want an up-to-date, practical refresher on current requirements.

Topics Covered

• Identifying lease arrangements and assessing control of an underlying asset
• Classification of leases: finance vs. operating leases
• Initial and subsequent measurement of lease assets and liabilities
• Financial statement presentation and disclosure requirements under ASC 842
• Accounting considerations for lessors and complex lease arrangements
• Differences between U.S. GAAP and IFRS lease standards
• Common implementation challenges, judgments, and practical issues

Learning Objectives

• Identify arrangements that meet the definition of a lease under ASC Topic 842
• Distinguish between finance and operating leases for both lessees and lessors
• Record lease transactions in accordance with applicable recognition and measurement requirements
• Apply financial statement presentation and disclosure requirements related to lease activity
• Evaluate the impact of lease accounting on financial statements and key financial metrics
• Compare key differences between U.S. GAAP and IFRS lease accounting guidance

Level
Update

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
General knowledge of U.S. GAAP and financial reporting concepts

Advance Preparation
None