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Advanced ASC 842 Lease Accounting for Lessees

4.6 (137)

Lauren Covell, CPA (US)


Wednesday, August 25, 2021 | 04:00 PM EDT

  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL

1.5 Credits


Subject Area


Webinar Qualifies For

1.5 CPE credit of Accounting for all CPAs

1.5 CPE credit for Certified Management Accountants (CMA)

1.5 CPE credit for Certified Internal Auditors (CIA)

1.5 CPE credit for Internal Audit Practitioner (IAP)

1.5 CPE credit for Qualification in Internal Audit Leadership (QIAL)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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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 analysing 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, 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 

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Business Owner
  • CEO
  • 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
  • Information Reporting Officers
  • Senior Accountant
  • Young CPA


    [no_of_record] => 137
    [average] => 4.5839






Keep up the great work! Thank you.


thank you this was an awesome webinar thank you for the excel spreadsheets awesome


This was one of the best webinars I have attended in some time. Thank you!


Very good.


Great presentation!