Lease Accounting - Making Sense of the Standard WEBCAST

Overview

This program makes sense of the controversial lease standard. The subtleties of the standard make it difficult to implement and monitor. There will be a detailed discussion on what constitutes a lease, how to monitor them, and ongoing challenges.

Highlights

What control of assets constitute a lease. Embedded leases. Fixed and variable consideration. Determining the lease term. Modifications and assessments. Related party leases. Presenting leases on financial statements. Components of calculating liabilities and rights of use.

Prerequisites

Working knowledge of the topic.

Designed For

CPAs and other financial professionals in public and private practice.

Objectives

Understanding of application of the new lease standard. Recognize the differences between the old standard in Topic 840 and the new standard in Topic 842. Recognize the applicability of the standard and the challenges in identifying when a lease exists. Calculate and report lease liabilities and right-of-use assets. Determine how to calculate the lease term, lease payments, and lease reclassifications. Identify the financial statement presentation of leases on the balance sheet, income statement, and statement of cash flow.

Preparation

None.

Notice

None.