Leases: Mastering the New FASB Virtual Seminar

You Pay: $379.00
MSCPA Members save $100.00 on this course. Login or Join to take advantage of these savings.
This course is 8.00 credits
Instructor
Leah Donti
Fields of Study
Accounting, Auditing
Course Level
Intermediate
Vendor
American Institute of CPAs

Instructor

Leah Donti

Leah Donti, CPA, CMA, MBA is the founder and president of Advantage Montreal Seminars Inc. An internationally recognized leader and speaker in accounting and auditing, she has led seminars for 29 years through her seminar business. She conducts in-house trainings at CPA firms and various multinationals and does CPE courses through CPA state societies. In addition, Donti speaks at numerous conferences across North America each year, discussing topics such as Financial Accounting Standards Board (FASB) updates, private company Generally Accepted Accounting Principles (GAAP) developments, International Financial Reporting Standards (IFRS), variable interest entities, accounting and auditing updates, U.S. Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) updates, revenue recognition, stock-based compensation, business combinations, compilation and review and fair value accounting. For the last 10 years, she has received the AICPA Outstanding Discussion Leader Award for her passion, energy and ability to speak at all levels of professionals, which has made her a most sought-out speaker.
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Registration Fees

MSCPA-AICPA Member
$249.00
MSCPA Member
$279.00
AICPA Member
$349.00
Non-Member
$379.00
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Friday, Nov 13, 2020
8:45am – 4:30pm

Due to the ongoing COVID-19 (coronavirus) pandemic, the MSCPA has made the difficult decision to make our scheduled live seminars in 2020 virtual-only events. The topics, dates, times and CPE credits will remain the same, and you will learn from the same top-level speakers that you expected to see at our live programs

How do the leasing requirements in the new standard differ from current GAAP? This course addresses that question by examining the core principles of the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples with journal entries are included to illustrate application of the new standard. This course explains the lessee accounting model, including lease classification, amortization of the right-of-use asset, and interest on the lease liability. This course also explains the lessor accounting model, including transfer of risk, profit recognition, and collectability. Additional topics include short-term leases, purchase options, variable lease payments, and sale and leaseback transactions. In addition, this course addresses the business context of implementing the new standard by identifying key factors for managing this significant change.

Designed For

Accountants in practice and industry

Course Objectives

When you complete this course you will be able to:  Identify a lease under the new leases standard.  Identify recognition and measurement requirements of the new leases standard.  Identify presentation and disclosure requirements of the new leases standard.

Major Subjects

 Lease classification  Amortization of the lease asset  Derecognition of the underlying asset  Recognition of lease receivables - Lease Modifications - Sale and leaseback transactions - Presentation, disclosure, and transition requirements - Comparison of the requirements of U.S. GAAP and IFRS - Private company consideration  The business context for implementing the new standard

Prerequisites

Experience in application of accounting standards

Registrants

+ $379.00

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