FASB's New Lease Accounting Standard

Friday, February 26, 2021
Webcast or Webinar, Online
11:00AM - 2:58 PM (opens at 10:30AM) EST
4Credits
Accounting and Auditing

Registration is Closed

Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.

Members
$129.00 Regular Price
Non-Members
$159.00 Regular Price
Course Type: Webcast
Course Code: 20/AC002833
Level: Basic
Vendor: ACPEN
Field of Study: Accounting

Overview:

It’s a whole new world for lessees under ASC topic 842. Soon nearly all leases will need to be disclosed as a liability on the balance sheet—from buildings right down to autos and copiers. Although the greatest impact will be on large entities, this will affect the financial statements of small- and mid-sized entities as well. This program will dive into the new standard on leases and address what you need to know now. (Note: FASB has proposed delaying the effective date for private companies.)

Objectives:

Upon completion of this course, you will be able to:

  • Apply the new financial accounting concepts of leases
  • Gain a working knowledge of accounting rules as they relate to leases
  • Discuss planning and potential pitfalls

Major Topics:

  • Review of accounting standard 2016-02
  • What is a lease?
  • Recognition and measurement of lease assets and liabilities
  • Impact on Lessors and Lessees
  • Disclosures and transition rules

Designed For:

Practitioners and members in industry seeking a better understanding of the new lease accounting rules.

Prerequisite:

None.