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Wednesday, October 9, 2024 Live Webcast

Implementation Challenges with the New FASB Lease Standard (X2-47981)

9:30 AM - 11:30 AM EDT
webcast

Vendor Platform

2 CPE Credits in AA

OVERVIEW

Learn the basics of FASB's Accounting Standard Update for Leases (ASC Topic 842), the key differences between ASC Topic 842 and ASC Topic 840, Leases, and the practical challenges and complexities within the new standard and how they apply to you. We will focus on lessee accounting, and will discuss key issues within the standard, required analyses, critical judgments, policy elections, disclosures, and the lessons learned from public filings.

DESIGNED FOR

Members in public or business

BENEFITS

After attending this presentation you will be able to:

  • Identify the complexities of the new FASB lease standard.
  • Recall the FASB lease standard implementation challenges.

HIGHLIGHTS

The major topics that will be covered in this class include:

  • FASB's Accounting Standard Update for Leases (ASC Topic 842).
  • Key differences between ASC Topic 842 and ASC Topic 840.
  • Commitments that are on the balance sheet: operating leases and finance leases
  • Allocation consideration to lease and nonlease components.
  • Lease payments, discount rate, inception date, commencement date, lease term.
  • Impairments of right-of-use asset, modifications, subleases.
  • Policy elections and disclosures.

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTOR

Allison Henry

Allison M. Henry, CPA, CGMA