Accounting for leases between entities under common control is changing. This CPE course describes the latest standard update for FASB Issues Guidance on Common-Control Lease Arrangements.
The objective of this FASB update is to provide clarity and standardization in accounting for leases involving entities under common control, specifically focusing on private companies and related party arrangements. This guidance falls under Topic 842 and aims to provide useful information on lease cash flows, amounts, timing, terms, and conditions while ensuring consistency in reporting. Overall, this update improves current GAAP by addressing lease complexities in common-control scenarios, benefitting investors and providing enhanced financial information for decision-making.
This standard for common-control lease arrangements establishes a practical expedient for private companies and not-for-profit entities that are not conduit bond obligors to use the written terms and conditions of a common control arrangement.
Major Topics Covered:
Join this CPE Accounting Webinar, which outlines an easy-to-understand step-by-step procedure for accounting for common-control lease arrangements.
Founder, Mike Morley
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.
Course Level
Credits
Instructional Method
Pre-requisites
Advance Preparation
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.
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KM
Instructor was knowledgeable, but should have spent more time on the new pronouncement on related party leases and less on definitions that probably were already known by this audience.
SJ
Could use more detailed information. In the two hours it highlighted great points, but i had to go research afterwards to get more detail
SS
Overall, very monotone, although good info.
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