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Advanced ASC 842 Lease Accounting for Lessees

  • Accountant
  • CPA/ABV
  • CPA/CFF
  • CFE
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • CFA
  • IAP
  • QIAL
  • CIPM
  • CBA/MCBA
  • FPAC
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

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 requires more from lessees. Now is the time to start learning about and getting ready to implement ASC 842. Knowing that the lease standard goes into effect in late 2021, In this continuing education course, we’ll talk about what it will take to gather your lease portfolio, get started analyzing those leases, and review contracts for embedded leases. We’ve pulled together a list of real-world lease examples and we’ll talk about how to calculate the lease liability, and ROU asset and discuss practical expedients.

ASC Topic 842 will substantially alter how companies account for leases in their financial statements. This online CPE webinar will prepare you for the financial reporting challenges that the new guidance will impose on all financial statement preparers.

This free continuing education course will mainly focus to give financial professionals a comprehensive understanding of the changes that the new pronouncement (ASC Topic 842) will make to the current accounting rules for leases. You’ll examine how the new rules will impact your financial statements, and you’ll gain practical guidance on how to apply the new rules to your company’s reporting situation.

Key topics covered in this ASC 842 online webinar are:

  • Best practices for transitioning to the new rules
  • Sample journal entries
  • New disclosure requirements for lessees and lessors
  • Accounting for sale/leaseback transactions

The impact of the new rules on financial reporting of income taxes and leases acquired in a business combination

Learning Objectives

  • To explore how to record a lease liability and right of use asset
  • To discuss how to account for lease modifications
  • To identify financial statement disclosure requirements for leases 

Recommended For

  • This online CPE webinar for CPAs is recommended for accounting and attestation practitioners at all levels in both public accounting and private industry who want to upgrade themselves about accounting standards for reporting of the lease in financial statements.
  • This NASBA-approved CPE course is recommended for CIAs and all titles of IIA.

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Bookkeepers & Accountants & Tax Preparers
  • Business Owner
  • CEO
  • Certified Financial Planner
  • CFO/Controller
  • Chief Accounting Officer
  • Compliance Managers
  • Compliance Officers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Director of Accounting
  • Director of Financial Reporting
  • Entrepreneurial CPA
  • Finance Pros
  • Information Reporting Officers
  • Senior Accountant
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1.5 CPE Credit for Internal Audit Practitioner (IAP)
  • 1.5 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
  • 1.5 CPE Credit of Accounting & Auditing for Certified Management Accountants (CMA)
  • 1.5 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
  • 1.5 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 1.5 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
  • 1.5 CPE Credit of Financial accounting for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1.5 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1.5 CE Credit for Certified Wealth Strategist (CWS)
  • 1.5 General Credit for Accountant/Bookeeper
  • 1.5 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
  • 1.5 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
  • 1.5 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
  • 1.5 CPE Credit for Certified Government Financial Manager (CGFM)
  • 1.5 PL Credit for Chartered Financial Analyst (CFA)
  • 1.5 PL Credit for Certificate In Investment Performance Measurement (CIPM)
  • 1.5 CRE Credit for Certified Corporate FP&A Professional (FPAC)

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • Instructional Method :
    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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Lauren Covell, CPA (US)

Vice President, Finance, Occupier

Lauren Covell is a Certified Public Accountant who currently lives in St. Louis, Missouri. She started her career in the PwC audit practice. After PwC, she joined a consulting firm and assisted companies in navigating complex technical accounting matters and streamlined their monthly close processes. Prior to joining Occupier, she was responsible for implementing ASC 842 for a vast portfolio of retail and equipment leases at a high growth consumer products company.  Lauren is also passionate about collaborating with others to optimize solutions and creating win-wins for every stakeholder in the process

About Company

Occupier

www.occupier.com

Founded in 2018 and headquartered in New York City, Occupier is one of the leading lease solution providers for tenants. Tenants are faced with unique real estate challenges and we set out to build digital solutions that automate and streamline the management of your lease portfolio and transactions. We are SOC1 compliant and we ensure that every lease in your portfolio is in compliance with ASC 842, and IFRS 16

About Presenter

Matt Giffune

Co-Founder, Occupier

Matt Giffune is the Co-Founder of Occupier, a software platform that helps your team stay in compliance with new lease accounting standards, drive better portfolio decisions, and track your deal pipeline. Matt lives in Boston, Massachusetts and spent a decade as a strategic tenant representation advisor at JLL, then as an early stage team member at VTS. He has a passion and vision for bringing commercial real estate online

About Company

Occupier

www.occupier.com

Founded in 2018 and headquartered in New York City, Occupier is one of the leading lease solution providers for tenants. Tenants are faced with unique real estate challenges and we set out to build digital solutions that automate and streamline the management of your lease portfolio and transactions. We are SOC1 compliant and we ensure that every lease in your portfolio is in compliance with ASC 842, and IFRS 16

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

Ratings and Review

4.6

1028 Ratings

Excellent

663

Very Good

280

Average

77

Poor

6

Terrible

2

KS

Khalid Sadek, CPA (CA), CRMA, CFE, CIA

Jun 13th, 2022

Good material with insightful examples

BW

Brittany Withey, CPA (US)

Jun 10th, 2022

myCPE webinars are user friendly and a great resource for CPE credits and to expand your knowledge base.

NA

Norma Allen, Accountant, CPA (US)

Jun 9th, 2022

Good instructor and she had good examples.

LH

Laura Howes, CPA (US)

Jun 9th, 2022

Was a good presentation of a very complicated topic.

MB

Mark Bower, CPA (US)

Jun 9th, 2022

I should have looked closer at the description of the class, I was not expecting hands on worksheets.

Lease Accounting New Standard (ASC 842)

FREE

1.5 Credits

Subject Area

Accounting

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