FASB's New Lease Accounting Standard (4 hours)

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Jul 26, 2021

Registration: 7:30 AM / Program: 8:00 AM - 11:58 AM Pacific Time

Fees

Member Fee: $129.00
Nonmember Fee: $159.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: None

Description

It’s a whole new world for lessees under ASC topic 842. Soon nearly all leases will need to be disclosed as a liability on the balance sheet—from buildings right down to autos and copiers. Although the greatest impact will be on large entities, this will affect the financial statements of small- and mid-sized entities as well. This program will dive into the new standard on leases and address what you need to know now. (Note: FASB has proposed delaying the effective date for private companies.)

Designed For

Practitioners and members in industry seeking a better understanding of the new lease accounting rules.

Objectives

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

  • Apply the new financial accounting concepts of leases
  • Gain a working knowledge of accounting rules as they relate to leases
  • Discuss planning and potential pitfalls

Major Subjects

  • Review of accounting standard 2016-02
  • What is a lease?
  • Recognition and measurement of lease assets and liabilities
  • Impact on Lessors and Lessees
  • Disclosures and transition rules