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Moataz Shokry, CPA

Massaleh Investment Co.

  • CMA
  • CPA

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Before starting this self study program, please go through the instructional document.


  • What is Lease agreement?
    3 mins
  • Identifying Leases Under the new ASC 842
    11 mins
  • The right to direct the use of the identified asset
    22 mins
  • The right to direct the use
    36 mins
  • What is an identified asset?
    49 mins
  • Consideration Types
    54 mins

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.

This standard became effective from the calendar year started on January 1, 2019, for the public companies. For private companies, the standard will be effective from the calendar year beginning January 1, 2020. ASC Topic 842 will substantially alter how companies account for leases in their financial statements. This new standard brings most operating leases, which were accounted for off-balance sheet under the previous leases standard ASC 840, onto the balance sheet. That's why the question of whether a contract is within the scope of leases or not is essential to be considered. This webinar discusses the definition of the lease and the criteria that must be met for a contract to constitute a lease agreement.

This course guides the audience to correctly identify whether a contract is a lease or contains a lease and explains how to distinguish it from the other non-lease service contracts. Under this standard, lease identification is a critical process; this course will analyze this process step-by-step, providing practical examples, which will clarify the implementation issues associated with that process.

Learning Objectives

  • To identify the criteria for the lease agreements.
  • To recognize the identified assets, the right to control, lease period, and consideration.
  • To explore the differences between the lease and the other non-lease service agreements.

Who Should Attend?

  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • CPA (Industry)
  • Young CPA
  • Senior Accountant
  • Accounting Managers
  • Staff of Accounting Firm
  • Bookkeepers & Accountants & Tax Preparers





Almost too elementary. Started off as though we know nothing about leases. Also speaker spoke too quietly - had to have volume all the way up - or not close enough to the microphone. I put that into the 'chat' and the volume did increase for the last half of the seminar.