Courses

Surgent's Examining the New Lease Accounting Standard: More Than Meets theEye

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Member Price: $0.00 Non-Member Price: $0.00

Date/Time:: Apr 21, 2021, 1:00pm–4:30pm
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
Level:: Intermediate

Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the upcoming changes to lease accounting. In this course, we will review how to measure the lease liability and Right of Use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease re-measurement events as well as address the other major provisions of the new standard, including transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recently issued updates to the lease accounting guidance in Topic 842.

Objective

Comprehend and apply the FASB’s comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842)
Recall operational issues in adopting the new lease accounting standard

Highlights

ASU No. 2016-02, Leases (Topic 842)
Overall lease accounting guidance
Lessor Accounting 101
Lessee Accounting 101
Detailed review of accounting by lessees and lessors
Sale and leaseback transactions
Transition guidance
Other operational issues
Recently issued updates to the lease accounting guidance
Feedback from the public company adoption of Topic 842

Designed For

Practicing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review

Prerequisite

Experience in financial accounting and reporting

Advanced Preparation

None