This course provides an in-depth overview of the assessment of whether or not an arrangement is or contains a lease.  Many times, this assessment is straight forward, but often times, there are challenges in making this determination

This text includes a discussion of specific guidance prescribed by ASC Topic 842 as well as additional interpretive guidance provided several of the Big 4 accounting firms.

The short-term lease exception available in ASC Topic 842 is also discussed.

CPE Acceptance


CPE Course For:

CPAs in most states (chart)
Other Professionals (chart)

Not Valid For:

Tax Preparer

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Online Course Materials

Fully online PDF materials included in course.

Login to your course to read online / print / save to local drive

Materials include:

  • Clickable table of contents
  • Learning objectives--each section
  • Review questions--each section
  • Answers to review questions + explanations
  • Glossary of terms used
  • Worksheets, forms and examples
  • Index with page numbers

* Fully searchable *


Fun CPE Course #: KCX50422
Materials: Online materials
Format: Interactive self-study
Subject: Accounting
Exam questions:  Final-5 multiple choice
Document length:  25 pages
Passing score: 70% | Unlimited retakes
Prerequisites: None
Advance prep: None
Course level: Overview
Last reviewed/updated: 09/09/22
Expiration: One year from enrollment

Learning objectives

Upon completion of this course, you should be able to:

  • Determine whether an arrangement is or contains a lease
  • Determine whether an arrangement includes an identified asset
  • Identify considerations with respect to substitution rights and decision-making rights
  • Recognize the short-term lease exception prescribed by ASC Topic 842