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myCPE

The New Lease Standard: A New Focus 2 Credits

Jan 20, 2023, 12:30 PM ET

The New Lease Standard: A New Focus 2 Credits

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  • Access the course at your convenience
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Jan 20, 2023, 12:30 PM ET

Learning Objective

  • 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 Overview

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 years ended 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 to determine 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?

If Auditing is one of your interests, You might be interested in Certification in Internal Audit Leading Practices.

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 2 CPE Eligible
Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Certified Government Financial Manager (CGFM) 2 CPE Eligible
Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
CIPM 2 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 2 CPE Eligible
Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Certified Government Financial Manager (CGFM) 2 CPE Eligible
Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
CIPM 2 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Accounting & Auditing for Certified Management Accountants (CMA) 2 CPE Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 2 CPE Eligible
Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Delaware Licensed Public Accountant (DE-LPA) 2 CPE Eligible
Certified Government Financial Manager (CGFM) 2 CPE Eligible
Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Accounting for Iowa Licensed Public Accountant (IA-LPA) 2 CPE Eligible
Accounting for Maine Licensed Public Accountant (ME-LPA) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
CIPM 2 PL Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Certified FP&A Professional (FP&A) 2 CE Eligible
License details Credits Status
Accounting for Certified Public Accountants (CPA-US) 2 CPE Approved
Financial Accounting for Certified Internal Auditors (CIA) 2 CPE Eligible
Financial Reporting for Certified Management Accountants (CMA) 2 CPE Eligible
Financial Reporting for Accredited in Business Valuation (ABV) 2 CPD Eligible
Financial Reporting for Chartered Global Management Accountants (CGMA) 2 CPE Eligible
Accounting for Chartered Financial Analyst (CFA) 2 PL Eligible
Accounting for Certified Government Financial Manager (CGFM) 2 CPE Eligible
Accounting for Internal Audit Practitioner (IAP) 2 CPE Eligible
Accounting for Certified Fraud Examiner (CFE) 2 CPE Eligible
Accounting for Qualification in Internal Audit Leadership (QIAL) 2 CPE Eligible
Financial Reporting for Certified Financial Forensics (CFF) 2 CPD Eligible
Financial accounting for Certified Valuation Analyst (CVA) 2 CPE Eligible
Financial accounting for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA) 2 CPE Eligible
Financial accounting concepts for Certified FP&A Professional (FP&A) 2 CE Eligible
Accounting for CIPM 2 PL Eligible

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

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.

About Instructor

Kenneth Heaslip
Kenneth Heaslip

Director, Cullari Carrico, LLC

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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.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

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Kelly Mussori, EA
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I still have more questions. Looking forward to the next seminar regarding this topic.

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Rachel Liberati, CPA (US)
5

Great webinar with helpful examples given by the instructor.

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    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

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    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

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