Get Ready to Adopt the New FASB Lease Accounting Standard
FASB’s new regulatory lease accounting standard, ASC 842, presents dramatic changes to how companies will have to account for leases in their financial statements. It takes effect in 2019 for public companies, and in 2020 for all other companies. Whether you’re a lessee or a lessor, ASC 842 will most likely affect the future of your organization’s balance sheet, and complying with the new guidance may not be easy. Are you prepared for the financial reporting challenges that the new guidance will impose on your organization?
Get ready to prepare for FASB’s new accounting lease standard in this webinar by industry expert Samuel Monastra. Monastra will bring you up to speed with the basics of ASC 842, and show you how to begin the process of implementation. You’ll learn how to identify leases in contracts, and understand the difference between an operating lease and a finance lease – including the accounting criteria for a finance lease. You’ll have an enhanced understanding of the best practices for implementation, as well as of the right-of-use model in lease accounting. Plus, you’ll learn how to prepare the financial statement disclosures for leases.
This course will enable you to:
Understand and identify leases in contracts
Understand the difference between an operating lease and a finance lease
Understand the criteria for accounting for a finance lease
Begin the process to implement the new lease accounting standard
Have an enhanced understanding of best practices to implement the new standard
Understand the right-of-use model in lease accounting
Prepare the financial statement disclosures for leases
Samuel A. Monastra, CPA has more than 20 years of experience in public accounting. He is a recognized expert in financial reporting with a particular emphasis on Revenue Recognition, IASB/ FASB Convergence, IFRS, Business Combinations, Asset Impairments, and Financial Statement Disclosures. Samuel h...