Lease Accounting: An Overview of ASC 842 live CPE Webinar

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ASC 842 - What you need to know

Learning Objectives

To discuss the requirements of the new lease standard
Determine the critical judgment areas of ASC 842
To grasp the fundamentals of the net present value calculations required
To describe the options available to transition from ASC 840 to ASC 842

Course Description

It’s been widely publicized that the new lease accounting standard ASC 842 impacts many companies regardless of industry. The only prerequisite is a company entering into a lease. ASC 842 has already been adopted for public companies and will be applicable for all private companies from 2022, replacing ASC 840. This accounting standard aims to bring leases onto the balance sheet and increase transparency and visibility into an organization's lease assets.

The new lease standard requires more from lessees. Now is the time to start learning about and getting ready to implement ASC 842. 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, 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 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.

This accounting continuing education course will highlight the main areas of concern when adopting the new lease accounting standard ASC 842. The topics that will be covered are:

What are the changes in lease accounting?
Areas of focus
Scope exemptions
Accounting judgments : (1) Is it a lease? (2) Lease components (3) Discount rate (4) Lease accounting end date
How to calculate a lease liability and right of use asset?
How to transition and practical expedients available?

In this Online continuing Education webinar CPA & Financial professionals will get 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.

Webinar Qualifies For

1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
1 General Credit for Accountant/Bookkeeper/Tax Professionals
1 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
1 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
1 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
1 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
1 CPE Credit for Certified Valuation Analyst (CVA)
1 CPE Credit for Internal Audit Practitioner (IAP)
1 CE Credit for Certified Wealth Strategist (CWS)
1 CE Credit for Certified Fiduciary and Investment Risk Specialist (CFIRS)
1 CPE Credit for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)

About Instructor

Brendan Doyle

Business Development Associate, Cradle Accounting

Brendan is one of the co-founders of Cradle Accounting. Before Cradle, Brendan worked for KPMG, EY & PwC in audit, capital markets, and lastly in technical accounting. In addition, Brendan has had exposure to several financial markets and their reporting requirements, having been based in NYC, San Francisco, Sydney, and Johannesburg.

During this time and working closely with his clients, he wondered why the technological innovation we see in other industries, e.g., self-driving cars, has not crossed over to accounting. Enter Cradle Accounting.

Additional Information

Duration

1 Hour

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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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.

Ratings and Review

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Lisa Guerrera, CPA (US)

This was my first program with myCPE. I found it very well organized, the instructor was knowledgeable, clear and well spoken, and the material was relevant. I will be attending other programs in the future.

Jim Sammarco, CPA (US)

This presenter was fantastic. This CPE was one of the most information-packed, useful and yet easy to understand sessions that i've attended. Really super helpful.

Paula Lange, CPA (US)

Highlighting important accounting issues in a format that is engaging and informative.

Nadia Rabinovich, CPA (US)

Great summary presentation of the new ASC 842. Thank you!

Judi Watson, CPA (US)

Informative Class.

1 Credit

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ASC 842 - What you need to know

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Brendan Doyle

Other Details

Additional Information

1 Hour

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.5

Lisa Guerrera, CPA (US)

Jim Sammarco, CPA (US)

Paula Lange, CPA (US)

Nadia Rabinovich, CPA (US)

Judi Watson, CPA (US)

Subject Area

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