Lease Accounting: Making Sense of a Difficult Standard
Online
4.00 Credits
Member Price $160.00
Price will increase by $20 after 6/4
Non-Member Price $225.00
Price will increase by $20 after 6/4
Overview
This program makes sense of the controversial lease standard. The subtleties of the standard make it difficult to implement and monitor. There will be a detailed discussion on what constitutes a lease, how to monitor them, and ongoing challenges.
Objectives
- To gain an understanding of application of the new lease standard.
- To know the differences between the old standard in Topic 840 and the new one in Topic 842.
- To be able to recognize the applicability of the standard and the challenges in identifying when a lease exists.
- To know how to calculate and report lease liabilities and right-of-use assets
- To understand how to calculate the lease term, lease payments, and lease reclassifications.
- To get the most up-to-date pronouncements in recently issued Accounting Standard Updates.
- To learn the financial statement presentation of leases on the balance sheet, income statement, and statement of cash flow
Highlights
- What control of assets constitute a lease
- Embedded leases
- Fixed and variable consideration
- Determining the lease term
- Modifications and assessments
- Related party leases
- Presenting leases on financial statements
- Components of calculating liabilities and rights of use
Designed For
CPAs in public and private practice
Preparation
None
Notice
To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange "Launch Event" button.
Leader(s):
Leader Bios
Kenneth Heaslip, Managing Member, Kenn Heaslip Seminars, LLC
Kenneth Heaslip, MS, MBA, CPA
Kenn has taught accounting since 1983.
•35 years with Becker CPA Review, including years as an author, editor-in-chief, and national director responsible for all course material and instructor training. •20+ years as a college professor at Seton Hall University, Kean University, Bloomfield College, Rutgers University, Stevens Institute, and Queens College. •20+ years teaching CPE for Loscalzo Associates, Smart Pros, and Kaplan •20+ years writing and developing CPE programs
Kenn’s unique ability to present complicated material in an easy-to-understand way, has earned him high ratings and awards, including the 2024 myCPE award as a Top Educator and Content Creator. His presentations focus on practical applications and include discussions among participants, examples, and case studies.
As a public accounting practitioner his entire career, Kenn understands the challenges of preparing and auditing financial statements. He brings to his presentations a practical approach in handling complicated and difficult standards. In presenting them. He focuses on areas that practitioners will most likely encounter and how to navigate through detailed, and difficult to understand rules.
Kenn is currently a Director at Cullari Carrico, LLC, a regional CPA firm in metropolitan New York City.
Non-Member Price $225.00
Member Price $160.00