Surgent's Lease Accounting: The Impact of Changing Standards on Both Lessors and Lessees (AALL)

Course Details

Date

Friday, September 13, 2019

4:00am – 6:00am

Field of Study

Accounting

Course Number

SU0194

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Basic

Vendor

Surgent McCoy CPE, LLC

Prerequisites

Basic understanding of U.S. generally accepted accounting principles

Description

The effective date for ASU 2016-02, Leases (Topic 842) is rapidly approaching. The new standard eliminates one of the largest forms of off-balance sheet accounting, but requires most leases to be brought onto the balance sheet (whether classified as a financing or operating lease) as well as mandates other changes in lease accounting for both lessees and lessors. This course will discuss the impact of these changing standards on both parties and will discuss recently issued or proposed updated guidance related to this new standard. These changes will be effective for public companies for periods beginning after December 15, 2018, with all other entities having an extra year for implementation. So now is the time to get up to date on all that is going on with regard to this topic.

Highlights

  • Outcomes of the recent FASB and IASB Joint Project related to Leases
  • Differentiating between accounting and reporting requirements for operating and finance leases
  • Evaluating possible material misstatement related to lease recognition, measurement, presentation and disclosure

Objectives

  • Identify finance lease transactions, including both lessor and lessee perspectives
  • Understand the proper accounting and financial reporting treatment for operating and finance leases
  • Describe how lessor accounting is influenced by revenue recognition and measurement concepts
  • Explain important transition issues from the current to new standards  

Designed For

Practicing CPAs and accounting professionals in business and industry that prepare and review or audit financial statements

Registration for this course has passed.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$89.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$119.00
Your Price $119.00

CPE Choice

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This course does not qualify for CPE Choice.

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