Lease Accounting Workshop

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Facility Name
Four Points by Sheraton Norwood
Facility Address
1125 Boston Providence Tpke
PO Box 9102
Norwood, MA 02062-5001
Field of Study
Accounting
Course Level
Basic
Vendor
Loscalzo Institute

Registration Fees

MSCPA-AICPA Member
$279.00
MSCPA Member
$279.00
AICPA Member
$379.00
Non-Member
$379.00
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Thursday, Nov 7, 2019
8:45am – 4:30pm

FASB's new lease standard (ASU 2016-02, Topic 842) makes significant changes in lessee accounting and disclosure. Lessor accounting only has minor changes from prior guidance. Effective in 2019 (or 2020 for nonpublic companies), most long-term leases will be capitalized on the balance sheet of lessees as right of use (ROU) assets and lease payment liabilities. This 8-hour program will take a deep dive into lease accounting based on the new guidance covering all aspects of lessee and lessor accounting and disclosures. It will also illustrate the accounting for finance and operating leases for both lessees and lessors and discuss related business implications of the new lease standard. A number of workshop cases are included for application and discussion purposes.

 

This seminar qualifies for the Workforce Training Express Fund program. The course code for this program is 1121337  Click here for more details: https://www.mscpaonline.org/cpe/training_fund

Designed For

CPAs, accountants, and financial professionals in companies that are lessees or lessors, as well as auditors with clients that are lessees or lessors.

Course Objectives

Participants will be able to:  Describe the new lease terminology including finance and operating leases  Define a lease contract  Identify and describe the recognition and measurement techniques for right of use (ROU) assets and lease payment liabilities  Through the use of workshop cases, develop the expertise necessary to account for finance leases and operating leases by both lessees and lessors following the new lease guidance

Major Subjects

MAJOR SUBJECTS  Definition of a lease  Searching for embedded leases in contracts  Operating leases  Finance leases including lease classification  Allocating consideration to lease components and non-lease components  Identifying the proper lease term  Interaction with revenue recognition rules  Lease modifications and terminations  Transition guidance  Disclosures

Prerequisites

Prior exposure to lease accounting as a lessee or lessor will be helpful

The start date for this course has passed. Registration is no longer available.