Lease Accounting Implementation (Morning Session)

Wednesday, December 15 8:45am - 12:15pm

(Check-In 8:30am)

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4.00 Credits

Member Price $140.00

Price will increase by $20 on 12/8

Non-Member Price $205.00

Price will increase by $20 on 12/8

Overview

This program focuses on a lessee’s initial application of Topic 842 to existing leases, which will require the immediate attention of nearly every nonpublic reporting entity. In this practical, hands-on workshop, participants will learn how to apply “Day 1 accounting” under Topic 842 to their identified transition population of leases. (This is a shortened version of our longer 8-hour Lease Accounting Practice Guide course.)

Highlights

  • Managing the risks of material misstatements 
  • Time-saving practical expedients 
  • Calculating present value for a lease's remaining payments 
  • Examples of documentation that will avoid internal-control deficiencies and maximize audit efficiency

Designed For

CPAs, accountants, and other financial professionals in industry who have a role in helping their organizations transition to Topic 842.

Objectives

  • Describe the term of each transition-population lease 
  • Determine the relevant remaining payments associated with each lease in the transition population 
  • Calculate the initial liability for each operating lease in the transition-population 
  • Determine the initial accounting adjustments for each transition-population lease 
  • Document a lessee's initial application of Topic 842

Preparation

Prior exposure to lease accounting as a lessee or lessor will be helpful

Notice

By registering for this program and, accordingly, receiving the eMaterials, you're acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Leader(s):

Leaders

Kenneth Heaslip

Kenneth Heaslip, MS, MBA, CPA, CGMA, licensed as a CPA in New Jersey, is a discussion leader and Content Specialist Instructor for Loscalzo Associates Ltd., a division of SmartPros, a Kaplan company. Kenn has extensive experience teaching all levels of accounting, auditing, and other practice-related areas. He has served as Vice President and Trustee of the New Jersey Society of CPAs, Secretary of their Scholarship Fund, President of the Essex Chapter, and chair of several task forces. He is an active member of many society committees in accounting and auditing, taxation, and student programs, as well as past chair of the Educators Committee. Kenn currently serves on the NJCPA Professional Conduct Committee. He is a Director at Leaf, Miele, Manganelli, Fortunato & Engel LLP, a regional CPA firm in New Jersey and New York City.

Kenn has been a Professor of Accounting at Bloomfield College and Kean University, as well as an Executive in Residence at Seton Hall University, where he was the students’ choice as Educator of the Year two years in a row. He taught in the Executive MBA program at Rutgers University and has been with Becker CPA Review since 1983, serving as National Director for several years. As National Director, he was lead editor of course content and oversaw the hiring and training of 350 instructors on staff. Kenn has lectured extensively throughout the United States, Canada, and Asia.

Kenn earned his BA from Rutgers University and has an MS in taxation and MBA in finance from Seton Hall University.

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Non-Member Price $205.00

Member Price $140.00