2025 Leases Update
Author: Pat Patterson
| CPE Credit: |
2 hours for CPAs |
This course is designed to provide professional accountants with insight on how to implement the changes for lease transactions under the Financial Accounting Standards Board’s (FASB) new leasing standards of ASU 2016-02 and other lease related changes in ASUs are explored. Participants will learn the accounting and financial reporting requirements to agree with the requirements of the revised new standards for Lessees and Lessors. Further, the course will update the professionals with the newly revised effective dates of the standard.
Publication Date: November 2025
Designed For
Professionals who must implement, update, account for, and/or understand the new and updated multiple leasing standards from the FASB under ASC Topic 842, Leases.
They should be aware of the latest changes in the new standards.
The revised effective date for the new standards is for periods ending after December 15, 2001, effectively, January 1, 2022. Professionals include CPAs in public practice, managers in industry, government, NFPs, and education, internal auditors, and users of financial information.
Topics Covered
- Selected ASUS for Lease Changes
- Important Examples About Leases
- Introductions for Reassessments
- Lease Remeasurements and Changes
Learning Objectives
- Identify types of leases
- Recognize how to record lease transactions according to their type
- Recognize how to disclose lease activity
- Recognize the nuances in types of leases for both lessees and lessors
- Identify and evaluate financial reports with leases
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
Participants should have a general knowledge of US GAAP and GAAS.
Advance Preparation
None
