myCPE
myCPE

The New Lease Standard: Implementation Issues 2 Credits

Jan 24, 2023, 10:00 AM ET

The New Lease Standard: Implementation Issues 2 Credits

Select your learning mode

  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate
Jan 24, 2023, 10:00 AM ET

Learning Objective

  • To discuss the application of the new lease standard.
  • To analyze the differences between the old standard in Topic 840 and the new one in Topic 842.
  • To recognize the applicability of the standard and the challenges in identifying when a lease exists.
  • To analyze how to calculate and report lease liabilities and right-of-use assets.
  • To inspect how to calculate the lease term, lease payments, and lease reclassifications.
  • To discuss up-to-date pronouncements in recently issued Accounting Standard Updates.
  • To analyze the financial statement presentation of leases on the balance sheet, income statement, and statement of cash flow.

Course Overview

The new Accounting Standards Codification (ASC) Topic 842, leases, issued to replace the previous leases standard ASC 840. 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.” 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 new lease standard needs to be implemented by non-public entities for years ended December 31, 2022. Implementing the standard will affect almost all balance sheets which could impact creditor analysis, loan covenants, and performance indicators.

Lessees will likely see the most significant changes as they are required to recognize substantially all leases on their balance sheets with a corresponding right-of-use asset. While lessor accounting remains similar to previous guidance in most respects, there are some important changes. For example, certain principles of the lessor model are updated to align with changes to the lessee model and the new revenue recognition standard (ASC 606).

This CPE course will focus on what companies have learned in implementing the standard. 

Following are the major topics covered in this CPE Accounting webinar:

  • Lease contracts
  • Lease term
  • Lease payments
  • Embedded leases
  • Related party leasing transactions
  • Lease vs. non-lease components, and 
  • Financial statement presentations

Check out the Best Course on Forensic Accounting.

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

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
Financial Reporting for Chartered Global Management Accountants (CGMA) 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 Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE 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 Valuation Analyst (CVA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
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
Financial Reporting for Chartered Global Management Accountants (CGMA) 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 Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE 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 Valuation Analyst (CVA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
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
Financial Reporting for Chartered Global Management Accountants (CGMA) 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 Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE 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 Valuation Analyst (CVA) 2 CPE Eligible
Accounting for CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
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
Financial Reporting for Accredited in Business Valuation (ABV) 2 CPD Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 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 CIPM 2 PL Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Kenneth Heaslip
Kenneth Heaslip

Director, Cullari Carrico, LLC

  • 4.5
  • rating
  • rating
  • rating
  • rating
  • rating

Kenneth Heaslip, MS, MBA, CPA, CGMA, licensed as a CPA in New Jersey, has extensive experience teaching all levels of accounting, auditing, and in other practice-related areas. He is an active member of the New Jersey Society of CPAs where he has served as Vice President, Trustee, Chapter President, Committee Chair and Task Force Chair. Kenn currently serves on the NJCPA Professional Conduct Committee and is a Director at Cullari Carrico LLC, a regional CPA firm in Northern New Jersey.

Kenn has been a Professor of Accounting at several universities including Seton Hall where he was the students’ choice as “Educator of the Year” two years in a row, and in the Executive MBA programs of Rutgers University and Stevens Institute.  He was recently a visiting professor at Mercy College. He previously was the National Director of the Becker CPA Review in charge of all course materials and instruction.

Kenn earned his B.A. from Rutgers University and has an MS in Taxation and MBA in Finance from Seton Hall University.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course 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.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

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.

Reviews and Ratings

out of 5

Excellent

Very Good

Average

Poor

Terrible

JH

Jacob Harney, CPA (US)
5

Great overall experience. Instructor kept things entertaining while delivering high quality content.

KL

Karla Lipscomb, CPA (US)
5

Easy to use - like the option to break up the session.

Recommended Courses

QuickBooks Year-End Cleanup: 2024

Dec 24, 03:00 PM ET

  • CPA (US)
  • IA LPA
  • ME LPA
  • DE LPA
Whistleblower Hotlines Effective Management

Dec 24, 03:30 PM ET

  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL
  • IA LPA
  • ME LPA
  • DE LPA
  • CICA
  • CCS
Optimized Inventory Accounting in the Cannabis Industry

Dec 24, 04:00 PM ET

  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • IA LPA
  • ME LPA
  • DE LPA
Understanding and Investigating Elder Fraud

Dec 26, 10:00 AM ET

  • CRMA
  • CPA/CFF
  • CFP® (US)
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL
  • MAFF
  • IA LPA
  • ME LPA
  • DE LPA
  • CICA
  • CCS
Cannabis Financial Reporting: The Green Revolution

Dec 26, 11:30 AM ET

  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • IA LPA
  • ME LPA
  • DE LPA
Top Accounting, Financial Reporting, Operational, and Other Challenges for Nonprofits

Dec 26, 12:30 PM ET

  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • IA LPA
  • ME LPA
  • DE LPA
Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    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 - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

Exclusive mobile
app for our unlimited
access subscribers

This course is included with,

Individual Subscription

Gain access to everything required for compliance, skill enhancement, and staying ahead of industry trends—all included in the Individual subscription. Here’s what you get:

  • 13,000+ Hours of NASBA-Approved Content
  • 500+ Emerging Subject Areas
  • 50+ State- Specific Ethics Courses
  • 100+ Conferences with Access to Industry Events
  • 250+ FastTrack Compliance Packages

    Pre-selected courses for quick compliance

  • Exclusive Mobile App Access
  • Access to Professional Communities

    Connect with like-minded professionals on Teams.

Trusted by 250,000+ Professionals

trust pilot review google review
Unlimited Access

Ready to Get Started?

Sign up today and begin your learning journey immediately!

card
stripe
$299$199 For 12 Months

Start Your Subscription

$299$199/year

Secure unlimited access

Click Here
Subscribed
Kevin purchased a subscription.
Subscribed
Shelley Murdock purchased a subscription.
Subscribed
Mohammad Mujtaba purchased a subscription.
Subscribed
Jay purchased a subscription.
Subscribed
Deanne purchased a subscription.
Subscribed
Phaik Swee purchased a subscription.
Subscribed
Piyush purchased a subscription.
Subscribed
Rodney purchased a subscription.
Subscribed
April purchased a subscription.
Subscribed
Dorothy purchased a subscription.
Subscribed
Mustafa purchased a subscription.
Subscribed
Peter purchased a subscription.
Subscribed
Christopher purchased a subscription.
Subscribed
Dylan purchased a subscription.
Subscribed
Jay purchased a subscription.
Subscribed
Sherice purchased a subscription.
Subscribed
Stephan purchased a subscription.
Subscribed
Denise purchased a subscription.
Subscribed
MARGHOOB purchased a subscription.
Subscribed
BERT purchased a subscription.
Subscribed
Kimberly purchased a subscription.
Subscribed
Jeffrey purchased a subscription.
Subscribed
Blake purchased a subscription.
Subscribed
Zeynep purchased a subscription.
Subscribed
Dawn purchased a subscription.
Subscribed
JOSEPH purchased a subscription.
Subscribed
Harikrishna purchased a subscription.
Subscribed
Ann purchased a subscription.
Subscribed
Nicholle purchased a subscription.
Subscribed
Rosalind purchased a subscription.
Subscribed
Keisha purchased a subscription.
Subscribed
Orit purchased a subscription.
Subscribed
Song purchased a subscription.
Subscribed
william purchased a subscription.
Subscribed
Jason purchased a subscription.
Subscribed
Eric purchased a subscription.
Subscribed
James purchased a subscription.
Subscribed
Gabriel purchased a subscription.
Subscribed
Stacy purchased a subscription.
Subscribed
Cathy purchased a subscription.
Subscribed
Stacey purchased a subscription.
Subscribed
Tina purchased a subscription.
Subscribed
Najmus purchased a subscription.
Subscribed
Biying purchased a subscription.
Subscribed
Debby purchased a subscription.
Subscribed
Adrianne purchased a subscription.
Subscribed
Jeff purchased a subscription.
Subscribed
Nicole purchased a subscription.
Subscribed
Naomi purchased a subscription.
Subscribed
Amanda purchased a subscription.
Subscribed
Michael purchased a subscription.
Subscribed
Hezhen purchased a subscription.
Subscribed
Elizabeth purchased a subscription.
Subscribed
Alyssa purchased a subscription.
Subscribed
Nidhi purchased a subscription.
Subscribed
Susan purchased a subscription.
Subscribed
Amanda purchased a subscription.
Subscribed
Brian purchased a subscription.
Subscribed
Sharon purchased a subscription.
Subscribed
Karan purchased a subscription.
Subscribed
Kiara purchased a subscription.
Subscribed
Jay purchased a subscription.
Subscribed
Kayleen purchased a subscription.
Subscribed
Clint purchased a subscription.
Subscribed
Stephen purchased a subscription.
Subscribed
Jessica purchased a subscription.
Subscribed
Jyoti purchased a subscription.
Subscribed
Liang purchased a subscription.
Subscribed
Alexis purchased a subscription.
Subscribed
Martin purchased a subscription.
Subscribed
Claudia purchased a subscription.
Subscribed
Katrenna purchased a subscription.
Subscribed
Marissa purchased a subscription.
Subscribed
Mariaelena purchased a subscription.
Subscribed
Ilona purchased a subscription.
Subscribed
Michael purchased a subscription.
Subscribed
Darnell purchased a subscription.
Subscribed
Donna purchased a subscription.
Subscribed
Tiffany purchased a subscription.
Subscribed
Natalya purchased a subscription.
Subscribed
Christopher purchased a subscription.
Subscribed
Don purchased a subscription.
Subscribed
Jolene purchased a subscription.
Subscribed
Hakan purchased a subscription.
Subscribed
Leslie Robin purchased a subscription.
Subscribed
Owen purchased a subscription.
Subscribed
Stacy purchased a subscription.
Subscribed
Daniel purchased a subscription.
Subscribed
Angie purchased a subscription.
Subscribed
Yishan purchased a subscription.
Subscribed
Troy purchased a subscription.
Subscribed
Anthony purchased a subscription.
Subscribed
Chris purchased a subscription.
Subscribed
Mickey purchased a subscription.
Subscribed
Richard purchased a subscription.
Subscribed
Asad purchased a subscription.
Subscribed
Lisa purchased a subscription.
Subscribed
Karen purchased a subscription.
Subscribed
Vanessa purchased a subscription.
Subscribed
RUSLAN purchased a subscription.