Post-Implementation Considerations for ASC 842: The New Lease Accounting Standard Self-Study Webinar (2 Hours)

Post-Implementation Considerations for ASC 842: The New Lease Accounting Standard Self-Study Webinar (2 Hours)

CPE Credit: 2 Hours

Price: $129.00

NASBA Field of Study: Accounting

 

Overview

In this cutting-edge, self-study webinar taken from our SEC Conference, Alison Hare, Technical Accounting Lead, Cisco, discusses the complex issues companies are facing following implementation of the New Lease Accounting Standard. You’ll explore specific matters to consider when  moving forward, and receive real-world expert guidance on effectively handling ongoing post-implementation challenges.
 

AGENDA HIGHLIGHTS


•  Lease Scope
    – Step 1—ASC 842 considerations: What’s in, what’s out?      

      – Leases guidance applies to rights to use property, plant and equipment
      – Leases excluded from guidance
      – Determining if contract is, or contains, a lease
   – Step 2—Definition of a Lease

      – Factors to consider in making the determination
      – Identify lease and non-lease components
   – Lessons Learned

      – Does the lessor have substantive substitution rights?
      – Which party controls the asset?
      – Are decisions limited by the design?
      – Shipping fees

•  Key Definitions
   – Commencement date of lease term
      – Determining factors
      – Retail store example

•  Lease Term
    – Retail store example
    – Examples addressing whether renewal options are reasonably assured
    – Discount rate
       – Determination for lessees
       – Can rate implicit in the lease be used?
       – How to determine the incremental borrowing rate

•  Lessee Subsequent Accounting
   – Testing ROU assets for impairment
   – When to reassess the lease term or lessee option
   – When to re-measure lease payments
   – Lease modification
   – Performing the impairment test
   – Identifying modifications/reassessments

•  Lessor/Sublessor Subsequent Accounting
   – Operating lease receivables and credit losses
   – Impairment model

•  Sale-Leaseback Transactions—What is Different?
   – Determining whether the transfer of the asset is a sale
   – Repurchase options
   – When a transaction is, or is not, a sale
   – Applicable to lessors
   – What precludes control from transferring?
   – Reassessment of a failed sale/leaseback

 

LEARNING OBJECTIVE  To update accountants and other financial professionals on how to effectively handle ongoing post-implementation
issues with the adoption of the New Lease Accounting Standard.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.    NASBA FIELD OF STUDY  Accounting.
DELIVERY METHOD  Self-Study.

Speakers

SPEAKER


Alison Hare, Technical Accounting Lead, Cisco

 

Detailed Learning Objectives

Identify the time frame for short-term leases allowing lessees to elect out of capitalization under ASC 842

Recognize those leases scoped out of ASC 842

Recognize the extent of the overall impact of the lease standard on entities

Identify specified observations from the first wave of public filers that adopted the New Standard

Identify the use of practical expedient(s) statistics from the first wave of public filers that adopted the New Standard

Identify disclosure trends from the first wave of public filers that adopted the New Standard

Recognize examples of significant events or changes requiring reassessment of the lease term

Recognize the accounting result of specified lease modifications