Overview of the New Lease Accounting Standard Webinar (1 Hour)

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Overview of the New Lease Accounting Standard Webinar (1 Hour)

CPE Credit: 1 Hours

Price: $99.00

NASBA Field of Study: Accounting



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 an examination of the two transition methods, the implications beyond accounting, and accounting for relief under COVID-19 rent concessions.


•  Deferral of ASC 842 Adoption for Certain Entities
   – Public not-for-profits
   – Private companies

•  Lessee Model
   – Balance sheet
   – Classification
   – Additional items
   – Disclosures

•  Lessor Model 
   – Approach
   – Classification
   – Additional items
   – Disclosures

•  How it Works—5 Key Steps
   – Assess whether the contract is, or contains, a lease
   – Identify all lease and non-lease components
   – Allocate the consideration in the contract to each component
   – Classify the lease (only for lessor under IFRS)
   – Apply accounting model for recognition and measurement of the lease

• Two Transition Methods—Whether or Not to Restate Comparative Periods

•  Practical Expedients
   – Package of practical expedients
   – Hindsight
   – Easements
   – Index or rate at transition
   – Short term leases (lessee)
   – Portfolio approach
   – Lessee/lessor election to combine components
   – Lessor accounting for sales tax and certain other taxes
   – Lessor costs paid by lessee
   – Quantitative and qualitative disclosures
   – Implications beyond accounting

•  Implications Beyond Accounting
   – Accounting policy and financials
   – Data
   – Processes and controls
   – Systems
   – Equipment and real estate
   – Tax and treasury

•  COVID-19 Update
   – ASC 842 accounting for lease modification
   – Rent concessions—relief summary
   – Lessee/lessor examples
   – Reassessment of variable lease payment
   – Subleases
   – Sale-leaseback


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

DELIVERY METHOD  Group Internet-Based.



Ashima Jain, Managing Director, PwC


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