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LeaseCrunch: About The New Lease Standard

4.5 (166)

Ane Ohm, CPA (US)

LeaseCrunch

  • CPA/ABV
  • CFEs
  • CMA
  • CPA (US)
  • CVA

Published: April, 2021

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

Overview

  • ASC 840 to ASC 842: Differences and Similarities
    4 mins
  • Surprises with the New Lease Standard
    13 mins
  • FASB: No Materiality Explicitly Included
    20 mins
  • Common Mistakes to Avoid
    24 mins
  • Unexpected Business Impacts
    33 mins
  • Hire an Expert
    39 mins

Course Description

ASC 842, Leases, fundamentally changed the accounting for leases. With increased transparency and comparability being the goal of the standard by the Financial Accounting Standards Board (FASB), nearly all leases are required to be recognized on the balance sheet.

This course will cover the ASC 840 to ASC 842 Differences, Similarities, and Timeline. We'll also cover surprises with the New Lease Standard including embedded leases, Real Estate Leases and Related parties. We'll provide a summary of practical expedients, as well. Once you've completed this course, you'll know what common mistakes to avoid when implementing ASC 842 and tips to simplify the process of implementation. 

Recommended for:

This online CPE webinar for CPAs is recommended for Accountants who want to update their knowledge and skills

Learning Objectives

  • To identify the Differences and Similarities of ASC 840 and ASC 842
  • To understand the Surprises that come from the New Lease Standard
  • To understand Common Mistakes to Avoid
  • To understand the Unexpected Business Impacts of the change in lease standard
  • Tips to Simplify Implementation

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA

Testimonial

4.5

(166)
57%
39%
4%
0%
0%

MS

The Instructor gave solid advice for those who need to review their lease liabilities for the new requirements that go into effect at the end of this year.

AK

Great

GB

Great

CC

Good information and easy to use

QJ

good example

RS

Good