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Thursday, January 16, 2025 Live Webcast

Leases: Mastering the New FASB Requirements (X3-4514476)

9:00 AM - 5:00 PM EST
webcast

Vendor Platform

8 CPE Credits in AA

OVERVIEW

Do you know which leases are within the scope of FASB ASC 842, Leases and how to apply the new financial accounting, financial reporting and disclosure requirements of this new major standard? This webcast addresses those questions by examining the core principles of the standard, including identification, recognition, measurement, presentation and disclosure requirements. Examples with journal entries are included to illustrate how to apply the standard.

DESIGNED FOR

Accountants and finance professionals

BENEFITS

  • Recognize arrangements which meet the scope requirements for lease accounting under FASB ASC 842
  • Recognize lessee accounting requirements for operating leases and finance leases under FASB ASC 842
  • Recognize lessor accounting requirements for sales-type, direct financing and operating leases under FASB ASC 842
  • Recognize accounting requirements for lease modifications under FASB ASC 842
  • Recognize accounting requirements for sale and leaseback transactions under FASB ASC 842
  • Recognize presentation requirements for lessees and lessors under FASB ASC 842
  • Recognize business factors to consider when implementing FASB ASC 842

HIGHLIGHTS

  • Lease classification
  • Amortization of the lease asset
  • Derecognition of the underlying asset
  • Recognition of lease receivables
  • Lease modifications:
    • Sale and leaseback transactions
    • Presentation, disclosure and transition requirements
  • The business context for implementing FASB ASC 842
  • COURSE LEVEL

    Intermediate

    PREREQUISITES

    Experience in application of accounting standards

    ADVANCE PREPARATION

    None

    INSTRUCTOR

    Daryl Krause

    Daryl G. Krause, CPA

    AICPA/Professional Development Institute

    Daryl G. Krause, CPA DG Krause LLC / Indianapolis, Indiana

    Mr. Krause has CPA certifications in several Midwestern states. He practices public accounting as manager and CEO of his regional CPA firm, DG Krause LLC, headquartered in Indianapolis, Indiana. Founded by Daryl in 2005, DG Krause LLC has been a member of the AICPA’s Employee Benefit Plan Audit Quality Center since 2005 and performs employee benefit plan audit services, for which Daryl serves as the sign-off partner. Since 2008, Daryl has been a frequent CPE program leader/facilitator for the AICPA, Surgent, the Ohio Society of CPAs, the Indiana CPA Society, and other state societies throughout the United States, as well as for in-house programs sponsored by firms and organizations. He was recognized as a Surgent Outstanding Discussion Leader during the 2020 and 2018 CPE seasons. He has performed technical reviews during the development of certain AICPA CPE programs. He has been periodically chosen to instruct CPE programs for the AICPA’s own professional staff. He has been the author (and webcast presenter for the 8-hour program) of the AICPA’s primary 8- and 4-hour CPE programs Leases: Mastering the New FASB Requirements and The Bottom Line on the New Lease Accounting Requirements for each year since 2018. He is the author and webcast presenter of the AICPA’s Conducting a Remote Audit 4-hour CPE program. He is a contributing author to the AICPA’s CPE Direct Journal of Accountancy quarterly materials. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served as an auditor included manufacturing, construction, real estate, and financial services. Roles included Ohio Valley Area Director of Employee Benefit Plan Services (in which he was responsible for overseeing the audit services provided to over 500 ERISA employee benefit plans each year for an eight-year period) and senior manager in the Entrepreneurial Services group. As a senior manager in EY’s National Professional Development group for a five-year period, he was involved in designing, developing, and delivering core curriculum Audit and Entrepreneurial Services CPE training programs for the entire U.S. practice. Mr. Krause holds a Bachelor of Business Administration degree in accounting from the University of Wisconsin-Oshkosh.

    PRICING

    $332.00 - Member

    $403.00 - Nonmember

    Register Today


    Note: Online pre-registration will close on January 16 at 8:30 AM.

    ADDITIONAL OPTIONS

    Remind me to register

    Print a registration form

    COURSE DEVELOPER

    AICPA/NJCPA