Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases- Examples and Practical Approaches

Description

The recently issued lease standard represents a radical departure from previous lease guidance. Many financial statements will recognize potentially significant assets and liabilities for the first time,. The impact will be uneven depending on the business and the reaction of their creditors. This course aims to guide participants in understanding how the new standard will affect their company or clients and the practical implementation strategies which might ease the burden of transition

Learning Objectives
  1. Identify how the transition from operating leases to capitalization will affect companies of all sizes
  2. Explain the fundamental principles of the right to use model for capitalizing leases
  3. Distinguish which lease contracts are scoped into and out of the standard.
  4. Recognize how the balance sheet treatment of leases will alter financial statement numbers, ratios, and loan covenants
  5. Identify the right of use, present value model for capitalizing leases
  6. Review the transition and disclosure implications of the new standard
Major Topics
  1. What was wrong with lease accounting?
  2. The asset-liability approach to leases and its effect on the balance sheet
  3. The effect of lease changes on covenants and likely lender reaction
  4. Implementing the right of use, approach model for lessees and lessors
  5. Renewal, termination and other lease specific issues
  6. Implementation and transition considerations
Provider
Business Learning Institute
Course Level
Update
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
2
Auditing
2
Instructor(s)
Ray Thompson
Prerequisites
Prior learning or experience in lease accounting
Location
Online Course
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When
Jan 10, 2018
10:00 am - 2:00 pm
Total CPE Credits
4
Format
Webcast
Instructor
Ray Thompson

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Implementing FASB’s New Lease Standard: ASU 2016-02 Accounting for Leases- Examples and Practical Approaches


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