Deep Dive into Lessee & Lessor Accounting under the New Lease Accounting Standard Self-Study Webinar (4 Hours)

Deep Dive into Lessee & Lessor Accounting under the New Lease Accounting Standard Self-Study Webinar (4 Hours)

CPE Credit: 4 Hours

Price: $229.00

NASBA Field of Study: Accounting



Join our panel of the nation's foremost authorities to learn all you need to know to about tackling the challenges of implementing the New Lease Accounting Standard.

Moderator Ashima Jain (PwC Managing Director, a lease accounting specialist with over 10 years of experience) heads a panel of top industry specialists, including Barry Berkowitz, Technical Accounting, Google; Sima Basher, Director of Accounting & Reporting, Otsuka America Pharmaceutical, Inc.; Sallie Nold, VP of Accounting Policy, Bank of America; and other leading experts. 

Together, they will discuss real-world experiences and the latest success strategies for dealing with the New Standard, and show you step-by-step how to effectively handle the changes.


•  Implementation at Bank of America
   – Lease population and transition impact
   – Processes, considerations and challenges
   – Alphabet approach to ASC 842 implementation
      – Alphabet by the numbers
      – New Leases Standard—lease accounting change journey
      – Challenges with our population

• ASC 842 Leases—planning, replanning and coping
   – Cisco lease numbers and ROU assets by category
   – The marathon timeline
   – Learnings from practical approach to design for the future

• Practical implementation matters, including systems, IT and software

• Future state vision for leasing

• Leasing target operating model

• Challenges presented by the New Leasing Standard
   – Gathering a full inventory of all leases
   – Data requirements and common challenges

   – Selecting the right software
   – Dealing with a decentralized organization

   – System implementations
   – EQ leasing data

• Establish completeness of the lease population

• Approach: assess, gather and validate required data elements

• Four common challenges clients are facing with software selection

• Key considerations per phase
   – Assess
   – Design
   – Transform


LEARNING OBJECTIVE  To show financial professionals how to handle the challenges of implementing the New Lease Accounting Standard
by providing the latest, proven success strategies from a panel of top industry leaders. 




Sima Basher, Director of Accounting & Reporting, Otsuka America Pharmaceutical, Inc.

Barry Berkowitz, Technical Accounting, Google

Kristine Deringer, Assistant Corporate Controller, Emergent BioSolutions

Ashima Jain, Managing Director, PwC

Timothy Kocses, Director, Techincal Accounting, Bristol-Meyers Squibb

Sallie Nold, VP Manager, Accounting Policy, Bank of America

Detailed Learning Objectives

• Identify leases scoped out of ASC Topic 842

• Recognize the overall effect of the new leasing standard on lessees

• Recognize the COVID-related extended effective dates of the New Lease Accounting Standard

• Identify those leases for which a lessee must establish a right-of-use asset and a lease liability

• Recognize the conditions under which a lessee will recognize a financing lease on the balance sheet

• Recognize examples of incremental initial direct costs

• Recognize the components of a lessee’s opening balance lease liability

• Identify the appropriate lease term

• Identify the circumstances under which a lessee would reassess the lease term

• Recognize the common rate used by the lessee in measuring the lease liability

• Identify the implications of the discount rate on the lease liability balance

• Recognize the applicability of impairment under ASC 360 on ROU assets

• Recognize options regarding the recognition of lease and non-lease components

• Recognize the treatment of real estate taxes in a real estate leasing contract

• Identify the maximum lease term for which a lessee may elect to not recognize the lease on the balance sheet

• Identify options available to lessors regarding the allocation of contract consideration to both lease components and non-lease components

• Recognize a lessor’s disclosure obligations when utilizing the practical expedient to combine lease and non-lease components