The effective date for ASC Topic 842, Leases, is almost here for private companies. As we learned from the public company implementation, adopting the new standard can be a very daunting task. Many entities are contemplating using lease accounting software to aid with their implementation process and well as their Day 2 accounting for leases under Topic 842.In this course, we partner with LeaseCrunch, a leading provider of lease accounting software, to explore the major transition activities required to implement Topic 842, including the valuing of operating lease liabilities and related assets, which were previously off-balance sheet under ASC Topic 840. We will also review the accounting guidance concerning the recording of new leases under Topic 842 and accounting for lease remeasurement events, again using the LeaseCrunch software to demonstrate the value of a technology-based solution.Lastly, Topic 842 introduces new disclosure requirements for operating leases, such as the weighted average term and discount rate used to value the lease. Calculating these amounts can be very challenging for an entity with a large lease portfolio. We will review these new disclosure requirements and demonstrate how LeaseCrunch can significantly ease the calculation of these disclosure amounts.
Individual webcastCPE Credit:
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.