LEASE ACCOUNTING ESSENTIALS: LAE 2021

Description
  • Gain an understanding of how the transition from operating leases to capitalization will affect companies of all sizes.
  • Study the fundamental principles of the right-to-use model for capitalizing leases under ASC 842.
  • Distinguish which lease contracts are scoped into and out of the standard.
  • Become familiar with the right-of-use, present value model for capitalizing leases.
  • Learn practical strategies to deal with related party & informal leasing arrangements
  • Preview the transition and disclosure implications of the new standard.
  • Lease reassessment, termination & impairment
Learning Objectives
  • Gain an understanding of how the transition from operating leases to capitalization will affect companies of all sizes.
  • Study the fundamental principles of the right-to-use model of capitalizing leases under ASC 842.
  • Distinguish which lease contracts are scoped into and out of the standard.
  • Become familiar with the right-of-use, present vlaue model for capitalizing leases.
  • Learn practical strategies to deal with related party & informal leasing arrangements
  • Preview the transition and disclosure implications of the new standard.
  • Lease reassessment, termination & impairment
Major Topics
  • What was wrong with lease accounting?
  • The asset-liability approach to leases and its effect on the balance sheet
  • What have we learned from public company adoption?
  • Implementing the right-of-use approach model for lessees and lessors
  • Renewal, termination, and other lease specific issues
  • Practical strategies to reduce the burden of implementation
  • Transition and presentation
Provider
Maryland Association of CPAs
Course Level
Update
Professional Area of Focus
Accounting & Auditing
CPE Field of Study
Accounting
4
Who Should Attend

Preparers and accountants in public practice and industry who need to understand the logic and detail behind the new accounting rules.

Instructor(s)
Ray Thompson
Prerequisites

None

Advanced Preparation

None

Location
Online
Event Information
When
Nov 3, 2021
9:00 am - 1:00 pm EDT
Location
Online
Total CPE Credits
4
Format
Webcast Replay

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LEASE ACCOUNTING ESSENTIALS: LAE 2021


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