Live Stream: The Bottom Line on the New Lease Accounting Requirements
445 | Livestream | Intermediate | Scheduled
Description
Which leases are within the scope of FASB ASC 842, Leases, and what are the basic accounting, financial reporting and disclosure requirements? This course addresses those questions by focusing on the basic core principles of this new major standard. Discussion includes basic identification, recognition, measurement, presentation and disclosure requirements. Case study exercises are included to illustrate application of the standard. This course discusses the lessee accounting model, including lease classification, amortization of the right-of-use asset and interest on the lease liability. This course also discusses the lessor accounting model, including profit recognition and collectability.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 4.00 | Accounting |
Designed For
Accountants in practice and industry
Prerequisites
Experience in application of accounting standards
Highlights
- Lease classification
- Amortization of the lease asset
- Derecognition of the underlying asset
- Recognition of lease receivables
Objectives
- Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842.
- Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842.
- Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842.
- Recognize presentation requirements for lessees and lessors under FASB ASC 842.
- Recognize business factors to consider when implementing FASB ASC 842.
Prices
- Member (Early Bird)
- $169.00
- Non-Member (Early Bird)
- $219.00
- Member
- $169.00
- Non-Member
- $219.00
Instructors
Cecil Nazareth
Cecil Nazareth is a partner with IFRS Partners, a CPA firm with offices in the New York City tri-state area. The firm specializes in international tax and accounting, particularly for SME companies, subsidiaries of foreign parents and HNW families in India and the U.S.
A nationally renowned leader on IFRS Education, training, consulting and conversion, Nazareth is a Chartered Accountant and a US CPA and understands the differences between IFRS and US GAAP having practiced in both arenas. He is also a Professor of Global Accounting at Fordham University in New York City.
Nazareth has appeared on ITV's Renee Report and has spoken at the Diamond Jubilee of Indian Chartered Accountants of India (ICAI) on the role of a Global accountant and IFRS. He has conducted several IFRS training sessions including sessions for the ICAI and the Bombay stock exchange CFO magazine and several CPA firms and companies around the world.
Earlier, Nazareth served as the Director of AICPA's Internal Audit and Strategy. In that key role he worked on the AICPA overall strategic goals and organizational development. He worked closely with the CEO on various strategic initiatives.
Previously Cecil worked with AICPA's SEC Practice Section reviewing Technical issues peer reviews of several large CPA firms performing SEC related work. Before joining the AICPA, Cecil was an Audit supervisor at Ernst and Young specializing in the financial services industry. His international experience includes the practice in the Middle East and India. He has an MBA in finance from Fordham University and Information Technology from Columbia University in NYC.
Certificate and Diploma in IFRS from the ICAEW
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