Reviewed On : January, 2024
.webp)
In
February 2016, the Financial Accounting Standards Board (FASB) issued
Accounting Standards Update (ASU) 2016-02, Leases (ASC 842), which will replace
the prior lease guidance in 2019 by providing new requirements of financial
accounting and reporting for lessees and lessors.
This
new standard represents the first comprehensive overhaul of lease accounting
since FAS 13 was issued in 1976. The new guidance will affect entities across
all industries because most companies enter into contracts that contain leases
to support their business operations.
Lessees
will likely see the most significant changes as they are required to recognize
substantially all leases on their balance sheets with a corresponding
right-of-use asset. While lessor accounting remains similar to previous
guidance in most respects, there are some important changes. For example, certain
principles of the lessor model are updated to align with changes to the lessee
model and the new revenue recognition standard (ASC 606).
To minimize disruptive missteps and costly non-compliance,
entities need to take a timely and thorough approach. This CPE course is
designed to help you navigate the complexities of this standard, identify the
implications of it, and prepare for transition and implementation.
This CPE Accounting text-based webinar
provides a working knowledge of the fundamentals of lease standards that can be
applied, regardless of the company size, in the real world.
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.
Advisor, Kelen Camehl CPA
Kelen is a recognized author and reviewer of CPE courses and has authored over 85 courses (225+ CPE credit hours) covering a range of accounting, auditing, financial reporting, regulatory, and ethics topics. His courses are available for purchase from many online CPE providers including the AICPA. Kelen has also remained involved in CPA exam content development for nearly 10 years and has authored more than a thousand multiple choice questions for various sections of the CPA exam. He also serves as an Editorial Advisor for the AICPA’s "Journal of Accountancy".
Kelen has over 15 years of progressive finance and accounting experience. He currently serves as an Accounting Policy Consultant with HP, Inc. in Dallas, TX. Most recently he was located in Budapest, Hungary on a three-year international assignment and served in the company’s Houston, TX location prior to this assignment. Prior to HP, he served in multiple accounting roles in the oil & gas industry with ConocoPhillips including technical accounting policy, SOX compliance, and internal audit. He also gained public accounting experience with PricewaterhouseCoopers, working with various clients in the energy, electric, power, gas, and utility sectors.
77 Ratings
JD
Jun 2nd, 2023
The lease accounting handout provided with this course is fantastic! I will definitely use this material again in practice. I look forward to taking other courses presented by this instructor!
KP
Nov 23rd, 2023
This is a good course overview on the new Lease Standard. It covers both the Leasee and Lessor.
JH
Nov 27th, 2023
Lots of great content!
TS
Jun 30th, 2023
NA
EM
Jun 28th, 2023
This was awesome. I normally am not a fan on self study CPE, just prefer a webinar. However this was so beneficial. I didn't think any of the information was irrelevant and everything was laid out in a very understanding way. I would recommend adding all calculation into the handout that were made, I did not feel like I got to understand how to calculate lease liability at present value or right to use asset amount.
