Virtual Summit
FASB Lease Summit: A Lease Accounting Horror Story in 3 Acts
 Wednesday, October 30, 2024 |
 1–4 P.M. ET |
| Subject Accounting |
Location Online |
CPE Credits 3 Hours |
- Learn how to avoid common audit and compliance pitfalls.
- Explore the dangers of relying on spreadsheets for complex lease calculations and discover how technology can transform your lease accounting and mitigate risk.
- Learn how to manage modifications, impairments, and other post-adoption events.
Register for Free
Why should accountants and finance teams care?
Because the consequences of mishandling lease accounting can be downright terrifying!
Here’s why you don’t want to be caught in the dark:
Audit Nightmares
Inaccurate or non-compliant lease accounting practices can trigger audits that drain your time, resources, and sanity. Avoid becoming the ghost story that auditors tell around the water cooler.
Compliance Cobwebs
Spreadsheets, while familiar, can’t guarantee the accuracy and transparency needed to avoid the chilling consequences of non-compliance – fines and penalties that will haunt your organization.
Operational Terrors
Inefficient lease accounting processes can consume valuable time and resources, leaving your team feeling like zombies. Embrace technology to streamline your workflows and banish those manual efforts.
Financial Frights
Errors in lease accounting can lead to material misstatements in your financial reports potentially attracting unwanted attention from regulators.
Agenda
October 30, 2024
1–2 P.M. ET
Act 1
Avoid an Audit Horror Show: Tricks and Treats for Lease Accounting Compliance
SPEAKER
Jason Parker
Solutions Engineer
2–3 P.M. ET
Act 2
Spreadsheets Nightmares: Real-world Lease Accounting Horror Stories
SPEAKER
Rachel Reed
Sr. Technical Accounting Manager
3-4 P.M. ET
Act 3
Unmasking the Mysteries of Day 2 Lease Accounting
SPEAKER
Abdi Ali
Sr. Technical Accounting Manager
Presenters
Jason Parker, CPA
Solutions Engineer at FinQuery
Rachel Reed
Team Lead, Technical Accounting Consultant at FinQuery
Rachel Reed is a Lead Senior Technical Accounting Consultant at FinQuery. Rachel’s experience includes working in the audit practice at Ernst & Young (EY), where she served clients across a wide variety of industries in both the public and private sectors. Rachel graduated from the University of Mississippi (Ole Miss) with both a Bachelor’s and Master’s degree in Accounting.
Abdi Ali
Technical Accounting Consultant at FinQuery
Abdi Ali is an Accounting Manager at FinQuery. A former Grant Thornton audit associate, Abdi helps FinQuery’s customers understand and implement the new lease standards. While at Grant Thornton, he assisted in the audits of various publicly traded and privately held clients. He also has experience as a general ledger accountant. Prior to FinQuery, Abdi earned a Bachelor’s degree in Accounting followed by a Master’s degree in Professional Accountancy from Georgia State University’s Robinson College of Business.
Act 1
Avoid an Audit Horror Show: Tricks and Treats for Lease Accounting Compliance
Description
This session will expose the pitfalls of inadequate lease accounting solutions and reveal the path to audit success. Brace yourself for a chilling journey through real-life audit horror stories, where spreadsheets and manual processes turned compliance into a nightmare. Learn from the mistakes of others and ensure your lease accounting is audit-ready.
Learning Objectives
Time
1-2 P.M. ET
Presenter
Jason Parker
Solutions Engineer
FinQuery
Additional Information
Program level: Basic
Prerequisites: None
Advance preparation: None
Delivery method: Online
Recommended CPE credit: 1
Field of study: Accounting
Act 2
Description
Join us as we share spine-tingling tales of real-life clients’ and prospects’ spreadsheet disasters surrounding lease accounting compliance. Hear tales of costly errors, compliance nightmares, and hidden risks lurking within your spreadsheets. Discover how these seemingly innocent tools can turn into monsters that devour your time, resources, and peace of mind.
Learning Objectives
Time
2-3 P.M. ET
Presenter
Rachel Reed
Senior Technical Accounting Consultant, Team Lead
FinQuery
Additional Information
Program level: Basic
Prerequisites: None
Advance preparation: None
Delivery method: Online
Recommended CPE credit: 1
Field of study: Accounting
Act 3
Description
Don’t let the complexities of Day 2 lease accounting spook you!
Learn the critical importance of ongoing lease reviews in maintaining compliance and optimizing your lease portfolio, ensuring it remains a well-kept home rather than a haunted house of errors. Master lease changes, summarizing the steps, calculations, and journal entries necessary to record various modifications and transactions with precision. Learn how to recognize lease portfolio changes in a timely manner and rectify mistakes, preventing them from haunting your financial statements.
Finally, conquer the task of impairment evaluation, mastering the process of assessing leases for impairment and applying the appropriate accounting treatment, ensuring your financial reporting remains transparent and free from spectral distortions.
Learning Objectives
Time
3-4 P.M. ET
Presenter
Abdi Ali
Senior Technical Accounting Consultant
FinQuery
Additional Information
Program level: Basic
Prerequisites: None
Advance preparation: None
Delivery method: Online
Recommended CPE credit: 1
Field of study: Accounting
CPE Details
Details
Program level: Basic
Prerequisites: N/A
Advance preparation: None
Delivery method: Online
Recommended CPE credit: 3 hours
Field of study: Accounting
Who Should Attend
Accountants and finance professionals responsible for lease accounting.
Anyone considering transitioning from spreadsheets to lease accounting software.
Individuals seeking to improve their understanding of lease accounting best practices.
Auditors seeking to sharpen their lease accounting expertise.
Sponsor Statement
FinQuery, LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBAregistry.org. For more information regarding administrative policies such as complaints, please contact CPEinfo@finquery.com.
Program Cancellation Policy
If a program is cancelled, FinQuery will notify registrants via the email address that they used to register for the program.