Lease Accounting Implementation Webcast | 4204458H

Instructors

Date :
November 23, 2020 12:30 PM - 4:00 PM
Location :
Webcast
Facility :
Webcast Event
Level of Difficulty :
Basic
Member Price :
149.00
Nonmember Price :
199.00
CPE Credits :
CPE 4.00, AA 4.00
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Why Attend This Course? Private companies and other nonpublic reporting entities must soon adopt the new accounting standard for leases, FASB ASC Topic 842. This 4-hour program focuses on a lessee’s initial application of Topic 842 to existing leases, which will require the immediate attention of nearly every nonpublic reporting entity. In this practical, hands-on workshop, participants will learn how to apply “Day 1 accounting” under Topic 842 to their identified transition population of leases. (This is a shortened version of our longer 8 hour Lease Accounting Practice Guide course.)

Objectives:

Participants will be able to:
·Determine the term of each transition-population lease
·Determine the relevant remaining payments associated with each lease in the transition population
·Calculate the initial liability for each operating lease in the transition population
·Determine the initial accounting adjustments for each transition-population lease
·Document a lessee’s initial application of Topic 842

Major Subjects:



·Managing the risks of material misstatement
·Time-saving practical expedients
·Calculating present value for a lease’s remaining payments
·Examples of documentation that will avoid internal-control deficiencies and maximize audit efficiency
·Managing the risks of material misstatement
·Time-saving practical expedients
·Calculating present value for a lease’s remaining payments
·Examples of documentation that will avoid internal-control deficiencies and maximize audit efficiency

Advanced Prep:

None

Misc. Information:

None.
Level of Difficulty:
Basic
Field of Interest:
Accounting
Prerequisites:
Prior exposure to lease accounting as a lessee as well as an understanding of how to determine the transition population of leases under the new standard will be helpful.
Designed For:
CPAs, accountants, and other financial professionals in industry who have a role in helping their organizations transition to Topic 842.

Instructors

Bruce Pounder

Materials:

  • Materials - eBook