2024 Topic 842 - Implementing Leases Workshop

Saturday, November 09, 2024
Webcast or Webinar, Online
2:00 PM - 6:00 PM (opens at 1:30 PM) EST
4Credits
Accounting and Auditing

Registration is Open

Members
$129.00 Regular Price
Non-Members
$159.00 Regular Price

CPE PowerPass Users

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$80.00 Members / $112.00 Non-Members
Course Type: Webcast
Course Code: 24/AC916719
Level: Intermediate
Vendor: ACPEN
Field of Study: Accounting

Overview:

This updated course offers an in-depth look at the FASB leases standard (ASC 842), which requires organizations to recognize lease assets and liabilities on the balance sheet. This comprehensive course will cover recognition, measurement, presentation, and disclosure requirements, while also focusing on a critical area of change which is the proper identification of a lease using a principles-based approach. We will discuss implementation requirements from both the lessee and lessor accounting models. 

In addition, we explore a variety of scenarios, including short-term leases, purchase options, variable lease payments, and remeasurement. This course offers practical journal entry examples, lessons learned from implementation, and explores recently issued amendments to the lease accounting guidance.

Objectives:

  • Define a lease under the new leases standard 
  • Apply recognition and measurement requirements of the new leases standard 
  • Describe the presentation and disclosure requirements of the new leases standard 
  • Prepare journal entries necessary to account for leases as both a lessee and lessor 

Major Topics:

  • Leases
  • Topic 842
  • Recognition & Measurement

Major Topics:

  • Leases
  • Topic 842
  • Recognition & Measurement

Designed For:

Accounting professionals

Prerequisites:

Prior experience with Topic 842