Deep Dive into Lessee & Lessor Accounting under the New Lease Accounting Standard Webinar (3.5 Hours)

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Deep Dive into Lessee & Lessor Accounting under the New Lease Accounting Standard Webinar (3.5 Hours)

CPE Credit: 3.5 Hours

Price: $269.00

NASBA Field of Study: Accounting

 

Overview

This information-packed webinar, drawn from our popular Lease Accounting Conference, will give you an in-depth understanding of lessee and lessor accounting under the New Lease Accounting Standard, including the classification of all leases and their impact on your balance sheet.
 

AGENDA HIGHLIGHTS


•  Lease Scope

•  Evolution of the Leasing Standard

•  Why Fix Lease Accounting?
   – Historical context

•  Lease Classification Criteria

•  Revenue & Measurement for Operating & Finance Leases

•  Lease Payments
   – Fixed
   – Variable

   – Residual value guarantees
   – Purchase and termination options

•  Operating & Capital Leases under ASCs 840 & 842

•  Lease Term
   – Initial determination and reassessment

•  ASC 360 Impairment & ASC 420 Liabilities

•  Discount Rates (Lessee & Lessor)

•  Targeted Improvements (ASU 2018-11)
   – Transition and lessor relief

•  Combining Lease & Non-Lease Components

•  Tomorrow’s ASC 842 Requirements
    Lessor Model
      – Sales-type, direct financing and operating leases

    Lessee Model
      – Initial and subsequent measurements

      – Lease obligations and ROU assets

•  Understanding the Implications of the Guidance
    – Real Estate 4-step illustrative example
  
    – Step 1: Separate lease and non-lease components
  
    – Step 2: Allocate considerations between lease/non-lease components
  
    – Step 3: Assess lease classification
  
    – Step 4: Calculate ROU asset and lease liability
    – Lessor lease 5-step illustrative example
  
    – Step 1: Identify terms of lease
  
    – Step 2: Determine rate implicit in lease
  
    – Step 3: Determine lease classification
  
    – Step 4: Record lease commencement date journal entries
  
    – Step 5: Record return of underlying asset

•  Implementing the New Lease Standard
    – Lessons learned from public companies
    – Identifying an embedded lease

•  Lessor Accounting Commencement Loss

•  Required Disclosures for Practical Expedient

•  Effective Date & Transition

•  Three Issues Addressed in ASU 2018-20
   – Sales and other similar taxes collected from lessees
   – Lessor costs
  
– Variable payments for contracts with lease and non-lease components

•  Improvements to ASC 842 Addressed in ASU 2019-01
   – Cash flow statements involving sales and direct financing leases
   – Application of Fair Value to lessors that are not manufacturers or dealers

 

LEARNING OBJECTIVE  To ensure that financial professionals will be able to successfully handle both lessee and lessor issues under
the New Lease Accounting Standard.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.    NASBA FIELD OF STUDY  Accounting.
DELIVERY METHOD  Group Internet-Based.

 

This live webinar is also available as a self-study webinar
Deep Dive into Lessee & Lessor Accounting under the New Lease Accounting Standard Self-Study Webinar (4 Hours)

Speakers

SPEAKERS


Emily Hache, Senior Manager, Deloitte

Sallie Nold, VP of Accounting Policy, Bank of America

Allison Patti Oliviera, Partner, Deloitte

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