The New Lease Standard: A New Focus

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The New Lease Standard: A New Focus

Learning Objectives

To gain an understanding of the application of the new lease standard.
To discuss the differences between the old standard in Topic 840 and the new one in Topic 842.
To determine how to properly determine if a contract includes a lease.
To describe how to compute the amount capitalized on the balance sheet.
To determine how to calculate the lease term, lease payments, and lease reclassifications.
To discuss the most up-to-date pronouncements in recently issued Accounting Standard Updates.
To discuss the financial statement presentation of leases on the balance sheet, income statement, and statement of cash flow

Course Description

The purpose of ASC 842 is to bring most operating leases, which are currently accounted for on off-balance sheets, onto the balance sheet. As a result, ASC 842 changes the definition of a lease. Through this Accounting CPE webinar find out how to make sense of this complicated standard and develop strategies for overcoming unforeseen challenges in the implementation process

The new lease standard needs to be implemented by non-public entities for the years ending December 31, 2022. Implementing the standard will affect almost all balance sheets which could impact creditor analysis, loan covenants, and performance indicators. This CPE course will focus on the important concepts of the standard including, what constitutes a lease, determining financing leases, how determining the lease term, the computation of the capitalized amount, and related party leases. A follow-up course will be offered on issues involved in implementing the standard.

Major topics covered in this Accounting CPE webinar:

How do stay on track with the new lease accounting standard?
What does the road ahead look like for non-public companies?
What are the lessons learned from public company implementations?

Webinar Qualifies For

2 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
2 General Credit of Accounting for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Financial Accounting for Certified Internal Auditors (CIA)
2 CPE Credit of Accounting for Certified Fraud Examiner (CFE)
2 CPE Credit of Financial Reporting for Certified Management Accountants (CMA)
2 CPE Credit of Financial accounting for Certified Valuation Analyst (CVA)
2 CPD Credit of Financial Reporting for Accredited in Business Valuation (ABV)
2 CPE Credit of Financial Reporting for Chartered Global Management Accountants (CGMA)
2 CPD Credit of Financial Reporting for Certified Financial Forensics (CFF)
2 PL Credit of Accounting for Chartered Financial Analyst (CFA)
2 CPE Credit of Accounting for Certified Government Financial Manager (CGFM)
2 CPE Credit of Accounting for Internal Audit Practitioner (IAP)
2 CPE Credit of Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
2 CE Credit of Financial accounting concepts for Certified FP&A Professional (FP&A)
2 CPE Credit of Accounting for Qualification in Internal Audit Leadership (QIAL)
2 PL Credit of Accounting for CIPM

About Instructor

Kenneth Heaslip

Director, Cullari Carrico, LLC

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.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

Click Here to View

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

4.5

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Kelly Mussori, Accountant/Bookkeeper/Tax Professionals, EA

I still have more questions. Looking forward to the next seminar regarding this topic.

Rachel Liberati, CPA (US)

Great webinar with helpful examples given by the instructor.

Liran Amir, CPA (US)

Great course

2 Credits

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Subject Area

Accounting

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The New Lease Standard: A New Focus

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Kenneth Heaslip

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.5

Kelly Mussori, Accountant/Bookkeeper/Tax Professionals, EA

Rachel Liberati, CPA (US)

Liran Amir, CPA (US)

Subject Area

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