19LEAS: Leases: Mastering the New FASB Requirements

If you have questions about this event, please call us at 952-831-2707.

Friday, April 26, 2019
8:30am - 4:30pm Central Time
8 CPE ()
Minnesota Society of CPAs, Bloomington

It's time to bridge your knowledge gap between current generally accepted accounting principles (GAAP) and the new Financial Accounting Standards Board (FASB) lease accounting requirements. Take an in-depth look at the new standard, including identification, recognition, measurement, presentation and disclosure requirements. Using practical examples, sharpen your knowledge and gain helpful implementation tips to ensure a smooth transition.

Major subjects

• Lease classification
• Lessee accounting model, including lease classification, amortization of the right-of-use asset and interest on the lease liability
• Lessor accounting model, including transfer of risk, profit recognition and collectability
• Amortization of the lease asset
• Derecognition of the underlying asset
• Recognition of lease receivables
• Lease modifications
• Sale and leaseback transactions
• Presentation, disclosure and transition requirements
• Comparison of the requirements of U.S. GAAP and international financial reporting standards (IFRS)
• Private company considerations
• Short-term leases
• Purchase options
• Variable lease payments

Learning objective(s)

• Identify a lease under the new leases standard
• Identify recognition and measurement requirements of the new leases standard
• Identify presentation and disclosure requirements of the new leases standard

Who should take this program?

CPAs and accountants in industry and public practice

Fees

Standard Member Fee	$325.00
Standard Nonmember Fee	$375.00