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Event 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 upcoming changes to lease accounting. 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 re-measurement events as well as address the other major provisions of the new standard, including 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.

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

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

Major Subjects

  • 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

Prerequisites

Experience in financial accounting and reporting

Instructions

When you purchase a Surgent CPE on-demand course, it must be taken by June 30, 2019, to receive credit.
Within 5 minutes after your purchase, you will receive an email from info@surgent.com that explains how to access your course and materials.
Once you complete a course, please allow up to 30 days to receive you certificate of completion.
If you have further questions, please email info@surgent.com or call 800.778-7436. Their help lines are staffed Monday-Friday from 8:30 am to 5 pm Eastern Time.