See Credit Details Below
CPE credit (NASBA QAS Self-Study) is available by completing and passing the program’s CPE Review & Exam.
While this program offers CPE (NASBA) credit, it has expired for CLE credit in many states. Please check the credit calculator below. No certificate will be issued if credit has expired in your state.
Lecture Topics [01:04:22]
Upon the successful completion of this program, the participant will be able to:
- Outline the FASB’s rational for changing lease accounting.
- Categorize the major changes to lease accounting in the new standard.
- Identify the potential steps to take now in the adoption process.
- Recognize how this change will affect financial statements and related matters.
- Understanding the effects of the new lease accounting standard:
- How all leases with terms over 12 months will be recorded with a liability on the balance sheet.
- How to measure lease terms.
- How to measure lease payments.
- How to initially record leases.
- Level expense recording for operating leases.
- Front-end loaded expense reporting for finance leases.
- Disclosures, including SAB 74 disclosure.
- Transition methods and implementation dates.
- Preparation for lawyers and accountants:
- Accounting and reporting changes.
- Potential debt covenant issues.
- Shareholder communication challenges.
- The less “dramatic” changes for lessors.
CPE Program Level: Overview
Intended Audience: For financial and legal professionals, particularly accountants, lawyers, and other allied professionals, who deal regularly in financial reporting and disclosure, seeking further guidance regarding FASB’s new lease accounting standard.
Prerequisites: A background in financial statement preparation, and financial reporting and disclosure.
Advance Preparation: None
Instructional Method: QAS Self-Study
Updated: June 2018