Transitioning to the New Lease Accounting Standard (ASC 842) Webinar (6 Hours)

Overview: 

If your company has yet to adopt the New Lease Accounting Standard (ASC 842), this webinar will supply you with the expert guidance you need to effectively make the transition, as well as provide you with a detailed review of its core principles. Join us to gain a comprehensive understanding of:

  • New Standard core principles, with numerous examples
  • Transition requirements of ASU 2016-02 and the optional transition method in ASU 2018-11
  • Internal controls trnsition issues
  • Software transition benefits

    ...and everything else you need to make a smooth transition!

Objective: 

To provide financial professionals with guidance for overcoming the challenges of transitioning from Lease Accounting Topic ASC 840 to ASC 842.

 

Emphasis: 
  • Effective Dates & Transition Requirements
  • Scope, Exceptions & Exclusions
  • Determination of Lease Term, Discount Rates & Fair Market Value of Leased Assets
  • Lease Classification & Lease Liability Measurement
  • Modified Retrospective Transition Method for an Operating Lease
  • ASU 2018-11 & Transition Practical Relief Exceptions
  • Business Combinations Assets & Liabilities Transition under ASC Topic 805
  • COVID-19 Impact
  • Internal Control Issues & Software Automation Benefits
  • IFRS 16 Transition Methods

 

Bottom
Prerequisite: 

Basic knowledge of financial accounting and reporting.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Intermediate.

CPE Credit: 
6.00
NASBA Field of Study: 
Accounting