Lessee & Lessor Accounting

Thursday, August 25 8:00am - 9:40am

(Check-In 7:30am)

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Hilton Garden Inn

2465 Grant Rd
Billings, MT 59102

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2.00 Credits

Member Price $69.50

Price will increase by $12.5 after 8/4

Non-Member Price $81.50

Price will increase by $12.5 after 8/4


All materials will be electronic only

This course explains the lessee accounting model, including lease and non-lease components, lease classification, amortization of the right-of-use asset and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition and collectability. Included in this course are detailed illustrated examples with amortization tables and journal


  • Lessee and lessor accounting models
  • Lease and nonlease components
  • Lease classifications
  • Initial and subsequent measurement of leases


Experience in application of accounting standards.

Designed For

Accountants in practice and industry.


When you complete this course you will be able to:

  • Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842
  • Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842




Leader Bios

Bruce Shepard

Bruce Shepard was most recently an assistant professor of accounting at George Fox University and an adjunct professor of accounting at the University of Oregon, prior to becoming an instructor for the AICPA in 2012. From 2006-2010, Mr. Shepard was the Chief Financial Officer of Las Vegas Gaming, Inc. in Las Vegas, Nevada, where he had full management responsibility for all financial affairs, daily business operations, administration and human resources. From 1985-2006, Mr. Shepard was in charge of the Middle Market Practice for PricewaterhouseCoopers, LLP in Portland, Oregon, where he served as an Assurance Partner from 1989-2006 focusing on providing proactive business advisory services to fast-growing companies. Bruce has many years of trusted business advisor experience around Portland, Oregon where he practiced for 33 years. In addition, Bruce has taught all of the accounting and auditing classes, fraud and forensics, pension auditing, SAARS, COSO, and governmental accounting and auditing classes for the AICPA for the last five years including being the lead instructor on GASB 68. Presently, Bruce is the author of the AICPA course, Audits of Banks and Other Financial Institutions.

At PricewaterhouseCoopers, LLP, Mr. Shepard spearheaded over 100 acquisitions and divestitures by leading in the financial structuring of the transactions. He worked with clients to develop strategic plans for short-term and long-term growth. He assisted both start-up companies and beyond start-up companies with attaining their needed growth capital. Mr. Shepard wrote an article, Financing Entrepreneurs, in 1999 for the Oregon Society of Certified Public Accountants. Mr. Shepard was awarded “Beta Alpha Psi Professional of the Year” in 2006 for sustained involvement with the University of Oregon.

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Non-Member Price $81.50

Member Price $69.50