ASC 842 will replace old lease accounting standards under ASC 840, effective for annual reporting periods beginning after December, 15, 2021 (calendar years starting in 2022) for most entities. Join us as we examine the major changes under these new standards and how they may impact your organization.
This session will cover:
- Definitions of leases under the new standards
- Examination of impacts on existing leases
- How to account for the right-of-use assets required by the new standards
- Considerations for lease terms such as modifications and subleases
- Proper financial statement presentation and disclosures
- Details on the implementation dates
We will review examples of how to implement the new standards and have a live question and answer session to address any additional questions on this topic.
Matt Huffner, Partner, Nonprofit Assurance Services
Rebecca Schorling, Manager, Nonprofit Assurance Services
Field of Study: Accounting
Learning Objective: Participants will learn the new lease accounting standards and how to implement them.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
Participants will earn 1.0 CPE credit