In the face of unprecedented and unpredictable financial strain, many companies are experiencing difficulties meeting their obligations under their existing lease arrangements. As a result, many lessees need to restructure their lease agreements with their lessors by agreeing to delay or lower lease payments, or by agreeing to a reduction in the right of use of the asset identified in the lease contract. This course will cover all of the accounting and reporting lease modifications in ASC 842, and how they are of vital importance during such unpredictable times.
Financial professionals serving lessees and lessors will gain a greater understanding of the changes in lease modification accounting brought about by ASC 842, and will be better equipped to handle the evolving demands of restructuring lease contracts.
Additional New Webinars on COVID-19:
Accounting for Debt Restructuring during Uncertain Financial Times Webinar (2 Hours)
COVID-19: The New Legal Landscape for Employers and Employees Webinar (1.5 Hours)
Cybersecurity in a Business World Impacted by COVID-19 Webinar (1.5 Hours)
Employee Retention Tax Credit: A Hands-On Guide to Maximizing the Latest Tax Benefit (1 Hour)
Exploring the Long-Term Economic Impact of COVID-19 Webinar (1 Hour)
Financial Leadership during the COVID-19 Crisis: An Expert Panel Discussion Webinar (1 Hour)
Impact of COVID-19 on Complying with SEC Requirements, including ICFR Compliance Webinar (1 Hour)
Impact of COVID-19 on Financial Reporting & Disclosures Webinar (4 Hours)
International Cash & Treasury Management in a COVID-19 Business World Webinar (1.5 Hours)
Managing Global Contracting during the COVID-19 Crisis Webinar (1 Hour)
Paycheck Protection Program: An Update on Loan Forgiveness Calculation Webinar (2 Hours)
Recent Developments at the FASB & IASB in Response to COVID-19 Webinar (1.5 Hours)
Recent Developments in Transfer Pricing, including the Impact of COVID-19 Webinar (1 Hour)
Tax Aspects of the "Coronavirus Aid, Relief & Economic Security (CARES) Act" Webinar (3 Hours)
Tax Planning for 2020/2021 & Beyond: Biden Agenda, PPP Forgiveness & More (3-Hour Webinar)
- COVID-19 impact
- Accounting for lease modifications by lessee and lessor with examples
- Accounting for ROU asset impairments
- When to reassess discount rates, lease classification and lease liability obligations
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Financial statement disclosures