Topic 842 – Implementing Leases Workshop

Salepage : Topic 842 – Implementing Leases Workshop
Archive : Topic 842 – Implementing Leases Workshop Digital Download
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This course provides an in-depth examination of the new leases standard (ASC 842), which requires enterprises to account for lease assets and liabilities on their balance sheets. This thorough training will address the criteria for recognition, measurement, presentation, and disclosure, as well as the correct identification of a lease using a principles-based approach. We will go over the prerequisites for implementation from both the lessee and lessor accounting models. Furthermore, we investigate several scenarios such as short-term leases, purchase options, variable lease payments, and remeasurement. This case-based course is up to date, analyzing newly announced revisions to lease accounting advice and providing practical journal entry examples and implementation lessons learned.

Fundamental Course Information

Objectives of Learning

Define a lease in accordance with the new leases standard.
Apply the new leasing standard’s recognition and measurement criteria.
Describe the new leasing standard’s presentation and disclosure requirements.
Prepare the relevant journal entries to account for leases as both a lessee and a lessor.

Major Topics

Accounting for new leases (ASC 842)

Galasso Learning Solutions LLC was founded and is led by Melisa Galasso. Melisa, a CPA with almost 20 years of accounting expertise, creates and leads courses in advanced technical accounting and auditing issues, such as not-for-profit and governmental accounting. She also promotes important professional growth, audit level training, and train the trainer initiatives. Melisa is a Certified Professional in Talent Development (CPTD) and a Master TrainerTM with the Association for Talent Development. Her enthusiasm for instructional design and adult learning strategies is one of the factors that distinguishes her from other CPE providers. Melisa is a member of the FASB’s Not-for-Profit Advisory Committee (NAC), the AICPA Council, and the VSCPA Board of Directors. She formerly served on the AICPA’s Technical Issues Committee (TIC) and the NCACPA’s A&A committee. Melisa also contributes to the AICPA’s State and Local Government Guide and is a subject matter expert for the Center for Plain English Accounting.

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