October 24, 2022 8:00am – 11:30am Map & Directions 602-252-4144

Webcast: Leases-Private Company Implementation

Description

The Financial Accounting Standards Board ("FASB") has issued a new accounting standard - Leases. The new standard -ASC Topic 842- replaces existing ASC Topic 840, and changes the accounting for operating leases, (requiring capitalization in the financial statements) and upgrading many other aspects of lease accounting and reporting. Private companies are required to implement the new standard effective for calendar 2022 year-end annual financial statements, and 2023 interim financial statements.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

7:30am

Fees

Member:
$160
Non-CPA Staff:
$210
Non-CPA Staff (100% club):
$160
Non-CPA Staff (sole proprietor):
$160
Non-Member:
$210
Webcast
Accounting & Auditing
4

Objectives

  • Relevant considerations regarding the implementation of the new standard in upcoming audits and review
  • Evaluating whether leases have been recorded in conformity with the applicable financial reporting framework
  • Auditing transition adjustments and disclosures
  • Considering internal control over financial reporting
  • Identifying and assessing fraud risks
  • Evaluating whether the financial statements include the required disclosures regarding leasing transactions
  • Determine the impact on ratios and financial relationships that will be impacted by the new standard.

Course Level

Beginning

Vendor

CalCPA Education Foundation More With This Vendor

Designed For

Accountants and auditors will be able to adequately plan their audit and review engagements regarding the appropriate procedures to be performed to determine their clients' compliance with the applicable requirements regarding the adoption of the Lease standard. Internal Accountants will be able to better understand the requirements to implement the Lease standard for their company.

Prerequisites

None

Highlights

  • Analysis of requirements for lease accounting under ASC 842, including detailed schedules showing journal entries and computations
  • Analysis of internal control and fraud risk aspects
  • Identification of high-risk areas of lease accounting and reporting
  • Suggested audit and review procedures for identified risks

Notes

None

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