We’ve been getting questions on how the leasing requirements in the new standard differ from current GAAP. In this webcast, we’ll address your questions and concerns by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. We’ll even cover the business context of implementing this new standard and identify key factors for managing such a significant change.
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• Identify a lease under the new leases standard.
• Apply the recognition and measurement requirements.
• Identify presentation and disclosure requirements.
• Lessee accounting model • Amortization of the right • of • use asset
• Interest on the lease liability • Lessor accounting model
• Transfer of risk • Profit recognition
• Lease classification • Derecognition of the underlying asset • Recognition of lease receivables • Sale and leaseback transactions • Comparison of the requirements of U.S. GAAP and IFRS • Private company considerations • Short • term leases • Purchase options • Variable lease payments
• Accountants in practice and industry
Experience in application of accounting standards