Surgent's Examining ASC 842, Leases: More Than Meets the Eye
Available Anytime
Location:
Online
4Credits
Accounting and Auditing
Registration is Open
FICPA Members
Nonmembers
$189.00 Regular Price
Product Code: SU24-NLS4-SSWC
Level: Intermediate
Vendor: Surgent
Field of Study: Accounting
Overview:
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 now-effective changes to the lease accounting guidance. 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 remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and 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 recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842's effective date here, now is the time to get up to speed on this complex new standard.Objectives:
- 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
Major Topics:
- 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
- FASB guidance on accounting for COVID-19-related rent concessions
- 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 reviewPrerequisite:
Experience in financial accounting and reportingAdditional Info:
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For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.