This session will cover the new lease accounting model that will be effective for all non-public companies preparing financial statements under U.S. GAAP starting after December 15, 2019. Learn what is needed to evaluate potential impacts on your company, including changes to systems and processes, what data to gather, judgments to make and document, and how to record the lease-related transaction. Areas of focus will include: purpose and scope of the new lease accounting model, recognition and measurement considerations, financial statement presentation and disclosures, transition and effective date.
After this session, you will be able to:
Learn the new lease accounting model from a lessee’s perspective, including key elements that will affect identification, recognition and measurement of lease arrangements
Know the financial statement presentation and disclosures required of lessees under the new accounting model
Understand the effective date of the new lease accounting standard and transition matters that may affect the business and the steps that should be taken now to prepare for implementation.
Level & Prerequisites: This is a group-internet based program at the Overview Level. Should have general familiarity with U.S. GAAP accounting for leases by lessees.
Who Should Attend: Owners, CEOs, CFOs, CPAs, Project Managers, and Accounting personnel.
CPE Information: 1.5 CPE credits in the field of Accounting