ASC 842 – Leases 2 Credits
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For many reporting entities, leasing is an important way to obtain access to the property. It allows lessees to finance the use of necessary assets, often simplifies the disposal of used property, and reduces a lessee’s exposure to the risks inherent in asset ownership.
The accounting for leases is changing significantly.
Thanks to the now required implementation of ASC 842, which demands that lessees record nearly all leases on their balance sheets, public businesses are now seeing their balance sheets “blowing up.”
This addition will replace ASC 840: Leases.
It’s not just public businesses, as non-public companies are being put on notice for an upcoming effective date of their own ASC 842 mandates.
The FASB’s proposed delay of the effective date of ASC 842 for non-public business entities has allowed those organizations more time to get their affairs in order. But a recent survey by Deloitte found that only 26% of public company execs say their ASC 842 implementations are complete.
This is especially shocking considering the implementation should already be in effect!
The delay won’t go on much longer, and when it’s time to comply – is your organization ready?
In this CPE webinar on accounting, the speaker Michel Morley answer the following major questions:
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Financial Accounting for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Financial Reporting for Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Accounting for Chartered Financial Analyst (CFA) | 2 PL | Eligible |
| Accounting for Delaware Licensed Public Accountant (DE-LPA) | 2 CPE | Eligible |
| Accounting for Certified Fraud Examiner (CFE) | 2 CPE | Eligible |
| Accounting for Certified Government Financial Manager (CGFM) | 2 CPE | Eligible |
| Accounting for Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Financial accounting for Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Financial Reporting for Certified Financial Forensics (CFF) | 2 CPD | Eligible |
| Accounting for Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Accounting for Iowa Licensed Public Accountant (IA-LPA) | 2 CPE | Eligible |
| Accounting for Maine Licensed Public Accountant (ME-LPA) | 2 CPE | Eligible |
| Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
| Financial accounting concepts for Certified FP&A Professional (FP&A) | 2 CE | Eligible |
| Accounting for CIPM | 2 PL | Eligible |
| License details | Credits | Status |
|---|---|---|
| Accounting for Certified Public Accountants (CPA-US) | 2 CPE | Approved |
| Accounting & Auditing for Certified Internal Auditors (CIA) | 2 CPE | Eligible |
| Certified Management Accountants (CMA) | 2 CPE | Eligible |
| Internal Audit Practitioner (IAP) | 2 CPE | Eligible |
| Certified Wealth Strategist (CWS) | 2 CE | Eligible |
| Certified Fiduciary and Investment Risk Specialist (CFIRS) | 2 CE | Eligible |
| Certified Valuation Analyst (CVA) | 2 CPE | Eligible |
| Qualification in Internal Audit Leadership (QIAL) | 2 CPE | Eligible |
| Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) | 2 CPE | Eligible |
Credits
2
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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Mike Morley is a Certified Public Accountant and a recognized authority in the field of finance with more than 25 years experience in finance, including SOX and IFRS implementation.
An entertaining and informative speaker and trainer, Mike is the author of:
“IFRS Simplified” which provides a jump start for accountants and finance executives who want to quickly and easily get up to date on IFRS.
“Sarbanes-Oxley Simplified” which is an easy-to-read explanation of the requirements of the U.S. legislation that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
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To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
How can I access my webinar completion certificates?
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
NB
It was simple and quick course to understand basic fundamentals of ASC 842. Thanks to myCPE.
KB
It was a decent refresher course on Leases, but would require more supplement classes for further understanding.
Feb 24, 10:00 AM ET
Feb 24, 10:00 AM ET
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Feb 24, 03:00 PM ET
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