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LeaseCrunch: ASC 842 Overview

  • Accountant
  • CIA
  • CPA (US)
  • IAP
  • QIAL
  • CFIRS
  • CWS

Published: June, 2021

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • What does ASC 842 accomplish?
    6 mins
  • ASC 840 to ASC 842: Differences and Similarities
    15 mins
  • Policy Elections
    19 mins
  • Transition: Office Space Operating Lease
    30 mins
  • Office Space Operating Lease
    39 mins

Course Description

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 online continuing education course, we’ll cover some of the key terms for ASC 842, how to calculate the ROU asset and more. Knowing that the lease standard goes into effect in late 2021, 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. 

    This online CPE webinar is a part of a wide range of webinars from LeaseCrunch.

    Learning Objectives

    • To understand how to calculate the ROU asset
    • To identify the practical expedients
    • To understand how to review leases and get ready for implementation

    Recommended For

    • This online CPE webinar is recommended for CPA, CMA, CIA, and other accounting and attestation practitioners at all levels in both public accounting and private industry who want to upgrade themselves about accounting standard for reporting of lease in financial statements.
    • This online CPE course is IIA approved for all the titles of IIA.

    Who Should Attend?

    • Accounting Firm
    • Accounting Managers
    • Accounting Practice Owners
    • Auditors
    • Bookkeepers & Accountants & Tax Preparers
    • Certified Management Accountant (CMA)
    • Certified Public Accountant (CPA)
    • CFO/Controller
    • Chief Accounting Officer
    • CPA (Industry)
    • CPA - Large Firm
    • CPA - Mid Size Firm
    • CPA - Small Firm
    • CPA in Business
    • Director of Accounting
    • Director of Financial Reporting
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
    • 1 CPE Credit for Internal Audit Practitioner (IAP)
    • 1 CPE Credit of Accounting for Certified Public Accountants (CPA-US)
    • 1 CPE Credit of Accounting & Auditing for Certified Internal Auditors (CIA)
    • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
    • 1 CE Credit for Certified Wealth Strategist (CWS)
    • 1 General Credit for Accountant/Bookeeper

    Additional details

    • Course Level :
      Basic
    • Credits :
      1
    • Instructional Method :
      QAS Self Study
    • Pre-requisites :
      None
    • Advance Preparation :
      None

    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.

    Presenter

    About Presenter

    Jess Vento, MBA

    Director of Customer Success, LeaseCrunch

    Jess has a knack for operations, process improvement, and helping her staff exceed expectations. Jess has an MBA in Leadership and Management and a BA in Accounting, both from Ottawa University’s Brookfield, WI campus. Jess’ varied professional experience includes working for companies like US Bank, Harley-Davidson Motor Company, Burke Properties, and Founders 3 Real Estate Services. She has spent the last few years working directly with clients to meet and exceed their goals. At LeaseCrunch, she serves as the go to resource for CPA firms, coordinating what they need to successfully implement the new lease standard and adopt lease accounting software.

     Jess has been President of the Accounting & Financial Women's Alliance (AFWA) Milwaukee Chapter and a contributor for MKE Moms Blog and is currently a member of TEMPO Milwaukee's Emerging Women Leaders group.

    About Company

    LeaseCrunch

    leasecrunch.com

    LeaseCrunch, the easiest lease accounting software on the market, is a comprehensive, cloud-based solution. LeaseCrunch helps organizations implement the new lease accounting standards, ASC 842, GASB 87, GASB 96, and IFRS 16.

    A simple but powerful tool, LeaseCrunch significantly reduces the time needed to transition, account for, and maintain leases.

    Faq

    FAQs content

    • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
    • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
    • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
    • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
    • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
    • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
    • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
    • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
    • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
    • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

    Ratings and Review

    4.5

    531 Ratings

    Excellent

    324

    Very Good

    172

    Average

    34

    Poor

    1

    Terrible

    0

    JB

    John Brantley, CPA (US)

    Dec 28th, 2021

    Very well presented and useful information.

    JA

    Jason Aymami, CPA (US)

    Dec 30th, 2021

    Quick and succinct

    PG

    Paul Goodhew, Others

    Dec 24th, 2021

    n/a

    LFF

    Luke Fisher Fisher, CPA (US)

    Dec 31st, 2021

    s

    SR

    Sam Rosenfarb, CPA (US)

    Dec 24th, 2021

    It took me a while to locate the final exam after completing video

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