Examining ASC 842, Leases: More Than Meets the Eye Webcast [NLS4]
Time: 08:30am-12:00pm
Subject:
AccountingCredit Hours:
4.00Price:
Member: $180.00
Non-member: $250.00
Discussion Leader:
Thomas E. Newell, CPA
more info
Thomas E. Newell, Jr. (Tom) is a shareholder in the firm of Newell & Newell, P.C., which is located in Columbus, GA. Tom started the firm with his wife, Silvia Newell, CPA in 1986. Prior to that, his public accounting experience included both local firms and international firms. Tom has performed hundreds of peer reviews and has been involved with the peer review program since 1989. Tom served on the Georgia Society (GSCPA) peer review committees from 1989 to 1993. In 1993, he was selected to be one of the technical reviewers for the Georgia Society Peer Review Program and served for nine years. During his time as technical reviewer, Tom worked with the GSCPA to move the peer review committee from in-person to online meetings. Tom has also served several years on the accounting and auditing committee at the Georgia Society. Tom has been a presenter at conferences and CPE courses for over 30 years. He has been a frequent presenter for the Georgia Society of CPAs at the Southeastern Accounting Show, Tax Forum (A&A topics), and the Accounting Institute. Tom is also a discussion leader for various continuing education courses on A&A topics for other state societies. He has made presentations at Fortune 500 companies and several government agencies on accounting and auditing, internal controls, and cybersecurity. As a presenter, Tom has been described as a dynamic speaker who is able to take a boring topic (accounting and auditing) and make it interesting. He was awarded the Surgent Outstanding Discussion Leader Award in 2015, 2016, and 2018, as a result of these skills. Tom was recognized in 2018 by the AICPA as an Outstanding Facilitator for his consistently high evaluations of knowledge and presentation skills. As the world of presentations has been changing, Tom has been a champion of moving to virtual presentations. He was involved in the early years of simulcasting by various state CPA societies, as well as the recording of video and audio self-study courses. Tom is now prepared for the next wave of change toward the totally virtual classroom that simulates a true live classroom experience. Tom graduated cum laude from Georgia Southwestern College in Americus, GA in 1980.
closeWebsite registration for this course closes on December 1, 2024. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Examining ASC 842, Leases: More Than Meets the Eye Webcast (NLS4)December 2nd, 2024 / 8:30 am 12:00 pm
Live Webcast / Zoom
Implementing ASU No. 2016-02, Leases (Topic 842) is sure to have a major impact on your balance sheet and potentially on your business as well. This course is a one-stop shop for what you need to know about the now-effective changes to the lease accounting guidance. In this course, we will review how to measure the lease liability and right-of-use asset that will now be recorded on the balance sheet for all leases. We will also tackle the tricky issues of accounting for lease modifications and other lease remeasurement events as well as address the other major provisions of ASC 842, such as disclosures and transition. We will also review the income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance. Lastly, the course will cover all recent updates to the originally issued guidance in Topic 842, including that related to discount rates. With Topic 842s effective date here, now is the time to get up to speed on this complex new standard.
Major Topics:
- ASU No. 2016-02, Leases (Topic 842)
- Overall lease accounting guidance
- Lessor Accounting 101
- Lessee Accounting 101
- Detailed review of accounting by lessees and lessors
- Sale and leaseback transactions
- Transition guidance
- Other operational issues
- Recently issued updates to the lease accounting guidance
- FASB guidance on accounting for COVID-19-related rent concessions
- Feedback from the public company adoption of Topic 842
Learning Objectives:
- Comprehend and apply the FASBs comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842)
- Recall operational issues in adopting the new lease accounting standard
Designed For: Practicing CPAs and their staffs, both in public accounting and business and industry -- controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review
CPE Credits: 4, Accounting
Level of Knowledge: Intermediate
Prerequisite: Experience in financial accounting and reporting
Acronym: NLS4
Discussion Leader: Thomas E. Newell, CPA
