This course is the third course in the five-course Financial Reporting Specialization. This course begins with a discussion of current liabilities and contingencies and continues with long-term debt and bonds. The course next explores accounting model for leases, both lessees and lessors, and a discussion on deferred tax assets and liabilities. Participants will learn the latest accounting standards including the new accounting model for leases effective for public companies in 2019 and private companies in 2020.
Lessee: Finance Leases
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From the course by University of Illinois at Urbana-Champaign
Accounting Analysis II: Measurement and Disclosure of Liabilities
University of Illinois at Urbana-Champaign
Course 3 of 5 in the Specialization Financial Reporting
From the lesson
Module 4: Lease Accounting Part 1
In this module, you will be introduced to the recently issued lease accounting standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board). Starting with the definition of a lease, this module will discuss features of the new model common to both lessors and lessees and then illustrate the classification of leases, initial recognition and measurement and subsequent measurement by lessees.
Meet the Instructors
John HeppClinical Assistant Professor of Accountancy
Department of Accountancy
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