PSV Nonprofit Group - Lease Accounting Made Easy | I2030919

Instructors

Date :
September 11, 2019 8:30 AM - 10:15 AM
Location :
San Francisco Peninsula
Facility :
Morton & Associates
Get Directions
Level of Difficulty :
Update
Member Price :
10.00
Nonmember Price :
40.00
CPE Credits :
CPE 2.00, AA 2.00
Show tabs
Organizations implementing the new lease standard can expect a complex transition and a substantial financial statement impact. Arm yourself with the knowledge you will need.
  • The guidance surrounding Topic 842 is extensive and includes hundreds of pages of mandated GAAP from the FASB.
  • Moving the measurements of operating leases from the footnotes of GAAP financial statements to the balance sheet may affect loan covenants due to potential significant changes in debt and related ratios.
Join us for this timely update.
 

Objectives:

  • Recognize lease accounting rules under ASU 2016-02 and ASU 2018-11.
  • Identify effective date, grandfathering, short term leases, intangible assets, renewal terms, finance leases and disclosures.
  • Determine action steps to comply with the new requirements.

Major Subjects:

Leases ASU 2016-02 and ASU 2018-11

Advanced Prep:

None

Misc. Information:

The Nonprofit Group generally meets every 1st Wednesday of the month (with some exceptions). All members are welcome and attendance at previous meetings is not a prerequisite. Free parking
Level of Difficulty:
Update
Field of Interest:
Accounting
Prerequisites:
Some knowledge of nonprofit accounting and financial statements preferred.
Designed For:
CPAs and other professionals working with nonprofit organizations

Instructors

John D Morton, CPA
Jack established Morton & Associates in 1980. A native of Canada, he received his BS from the University of Alberta, his MS from the University of Calgary, and his Ph.D. from the University of Toronto. Jack completed his American tax and accounting education at Golden Gate University, and taught preparatory courses for the CPA exam while building the firm. He has more than 30 years of experience providing personalized tax and accounting services. Jack is a member of the American Institute of Certified Public Accountants and the California Society of CPAs. A recognized expert in accounting for non-profit organizations, Jack’s professional activities include or have included: Co-Chair of the Non-Profit Audit Committee of the Peninsula Chapter of the California Society of CPAs, and service as a Board Member of Community Skating Inc., the Palo Alto Recreation Foundation, and the Morrissey-Compton Educational Center. He has also served as a Board Member of the Palo Alto Chamber of Commerce and past Chairman of the United Way Audit Advisory Committee. Jack was a member of the Palo Alto City Council from 2002 to 2009, taking a frequent leadership role on the City Finance Committee, including two times as the Chair.
No Agenda or Materials posted.