1-Day Program

See Credit Details Below

Overview

Why You Should Attend

The FASB’s new lease accounting standard presents complex accounting, internal control, system and implementation challenges. In this interactive Workshop, you will learn the conceptual underpinnings, overall structure, and details of this new standard as it applies to both lessees and lessors. Implementation considerations, including issues being experienced by different companies and industries, will be discussed in detail. Concepts will be reinforced by working examples and a case study.

What You Will Learn

  • Key objectives and scope of the new standard, including the new definition of a lease
  • Analyzing issues such as substitution clauses and related specified asset questions
  • How to evaluate and account for contracts that may contain an embedded lease
  • Dealing with lease and non-lease components in a contract
  • How to measure the lease liability and right-of-use asset
  • Journal entries for the initial recording and subsequent measurement of leases
  • The classification of leases as operating versus financing and subsequent expense recognition
  • Accounting for lease modifications
  • Presentation and disclosure requirements and practices
  • Lessor accounting
  • Implementation accounting challenges, including observations from early adopters
  • System implications and internal controls over financial reportin

What You Should Bring

To customize your Workshop experience and gain the most benefit from this interactive learning experience we recommend you bring examples of lease accounting transactions from your company or a client along with the related disclosures.

Who Should Attend

This Workshop is geared to financial reporting professionals who are involved in lease accounting, review such accounting, or need to understand how lease accounting affects their financial reporting.  In addition, professionals in other areas such as treasury, analysis and operations who need to understand how lease accounting changes will affect financial statements will benefit from this Workshop.

Program Level: Overview

Intended Audience: Financial reporting professionals who are involved in lease accounting, review such accounting, or need to understand how lease accounting affects their financial reporting. In addition, professionals in other areas such as treasury, analysis and operations who need to understand how lease accounting changes will affect financial statements.

Prerequisites: A background in financial reporting and accounting.

Advanced Preparation: None

Credit Details

Schedule & Location