Live Stream: Examining ASC 842, Leases: More Than Meets the Eye
207 | Livestream | Intermediate | Scheduled
Description
Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the now-effective changes to the lease accounting guidance. In this course, we will review how to measure the lease liability and right-of-use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842's effective date here, now is the time to get up to speed on this complex new standard.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Accounting |
Designed For
Practicing CPAs and their staffs, both in public accounting and business and industry - controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
Prerequisites
Experience in financial accounting and reporting
Highlights
- ASU No. 2016-02, Leases (Topic 842)
- Overall lease accounting guidance
- Lessor Accounting 101
- Lessee Accounting 101
- Detailed review of accounting by lessees and lessors
- Sale and leaseback transactions
- Transition guidance
- Other operational issues
- Recently issued updates to the lease accounting guidance
- FASB guidance on accounting for COVID-19-related rent concessions
- Feedback from the public company adoption of Topic 842
Objectives
- Comprehend and apply the FASB's comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842)
- Recall operational issues in adopting the new lease accounting standard
Prices
- Member (Early Bird)
- $179.00
- Non-Member (Early Bird)
- $229.00
- Member
- $179.00
- Non-Member
- $229.00
Instructors
Robert W. Wells, CPA, CFE
Robert "Wayne" Wells has 51 years of experience in public accounting and annually instructs numerous continuing education seminars and in-firm training classes for continuing education providers in the areas of accounting, auditing, fraud, and taxation.
Wells began his career in public accounting in 1970 with the national firm of what was then Touché, Ross & Co. in Nashville, Tennessee. In 1974, he joined a local firm in Nashville and provides accounting, auditing, fraud investigations, and tax services to small- and medium-sized businesses as well as extensive tax services to individuals.
Wells graduated from Austin Peay State University in Clarksville, Tennessee in 1970 with a Bachelor of Science degree in accounting and economics. He holds a certified public accountant certificate in Tennessee, and is also a Certified Fraud Examiner. He is a member of the Tennessee Society of Certified Public Accountants, the Association of Certified Fraud Examiners, and the American Institute of Certified Public Accountants. He is a recipient of the Outstanding Discussion Leader Award presented by the Tennessee Society of Certified Public Accountants, the Outstanding Discussion Leader Award presented by the AICPA, and an Outstanding Discussion Leader Award presented by Surgent..
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