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Accounting for Lease Concessions, Payment Forgiveness, Deferrals - COVID-19

4.4 (127)

Rachel Reed

LeaseQuery, LLC

Tuesday, June 23, 2020 | 01:00 PM EDT

  • CPA

1 Credit

FREE

Subject Area

Accounting

Webinar Qualifies For

1 CPE credit of Accounting for all CPAs

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

Course Description

ACCOUNTING FOR LEASE CONCESSIONS, FORIGIVNEESS OR DEFERRALS AMID COVID-19

ASC Topic 842 New lease standard has and will substantially alter how companies account  for leases in their financial statements for entities across all industries 

The Financial Accounting Standard Board (FASB)  has informed that because of the business disruptions and challenges severely affecting the global economy caused by the COVID-19 pandemic, many lessors are or will be, providing lease concessions to lessees for a significant number of lease contracts. While concessions may vary in form, payment forgiveness and deferral of payment are expected to be the most common types of concessions granted. Additionally, it is estimated that the number of contracts that are going to be impacted because of this global pandemic are going to be substantial.

During this presentation, LeaseQuery’s lease accounting experts will explain the accounting options for lease concessions granted due to COVID-19.  We will introduce the new relief provisions offered by the FASB for efficient lease accounting during this unprecedented time and walk through several examples of how to apply.  Also included in the discussion will be modification and termination lease accounting treatments for arrangements that do not qualify for the relief provisions or companies that elect not to use them.  

Learning Objectives

  • Understand Lease Accounting Impacts due to COVID-19
  • Determine when the new relief accounting options offered by the FASB can be applied
  • Learn how to apply the new relief accounting options
  • Identify other accounting treatments for changes to lease arrangements

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Bookkeeper
  • CFO/Controller
  • Chief Accounting Officer
  • Cloud Accountants
  • Compliance Officers
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Legal Professionals
  • Non Profit Pros
  • Outsourced CFO
  • Senior Accountant
  • Staff of Accounting Firm
  • VP Accounts
  • VP Finance
  • Young CPA

Testimonial

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    [average] => 4.3937
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