Conferences Presenting

Asheville Conference
August 06, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Bar Harbor Conference
July 16, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Charleston Conference
May 14, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Hilton Head Conference
September 24, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Key West Conference
June 04, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Las Vegas May Conference
May 22, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Las Vegas December Conference
December 03, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Naples Conference
October 29, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Nashville Conference
November 05, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
San Francisco Conference
August 27, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
San Diego Conference
July 09, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
St Simons Conference
October 22, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Sunriver Conference
July 30, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Washington DC Conference
July 03, 2020
10:30AM - 1:00PM
Rod Redding, Inactive CPA
Live Event
3
Basic
Accounting
None

Course Description

In late 2019, the FASB announced a change in the effective date of implementing the new leasing standard for private companies from 2020 to 2021. The new standard covers accounting guidance for both lessees and lessors. However, accounting by lessees will mostly be affected. Nearly all leases by a lessee, except those for less than a twelve-month term, will be capitalized as a right-of-use asset and a lease liability. An example lease will be used to cover topics such as lease classification, lease term, measurement at the commencement date, subsequent measurement, and journal entries. The guidance on transition to the new standard will also be discussed. New disclosure requirements will be demonstrated by reviewing the disclosures of public companies that have already implemented the guidance.



Course Specifics

Accounting
None
LE1201013
None


Compliance Information

103220
Qualifies for CA Fraud: No


Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Understand the FASB reasons for issuing new leasing guidance
  • Determine if a contract is a lease and the types of lease to a lessee and lessor
  • Discuss the recognition, measurement, and presentation requirements in the financial statements for both the lessee and the lessor
  • Prepare the journal entries for lessee and lessor
  • Understand the alternative ways to transition to the new lease guidance
  • Identify the leasing disclosures for a private entity


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