LeaseQuery named #1 lease accounting solution 3+ years in a row → See Why Users Love Us

Virtual Summit

FASB Lease Summit: A Lease Accounting Horror Story in 3 Acts

Calendar Icon Wednesday, October 30, 2024 Time Icon 1–4 P.M. ET
Subject
Accounting
Location
Online
CPE Credits
3 Hours
This season, trade your tricks for treats and your spreadsheet nightmares for lease accounting ease. Join host Jason Parker, CPA, for this spooktacular summit, where our experts will walk through audit lessons learned, best practices around ASC 842, why Excel will set you up for non-compliance, and important Day 2 lease accounting tips.
  • 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

Jaron Moss
Jaron Moss
Jaron Moss

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

Hear audit challenges faced by organizations relying on subpar lease accounting methods.
Discover the common reasons auditors flag lease accounting issues and the potential consequences.
Learn practical tips and strategies to ensure your lease accounting is audit-ready and compliant.

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

Spreadsheets Nightmares: Real-world Lease Accounting Horror Stories

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

Hear real-world horror stories of lease accounting gone wrong, and how to avoid becoming the next victim.
Understand the hidden risks and limitations of using spreadsheets for lease accounting.
Learn how spreadsheet errors can lead to financial misstatements, compliance violations, and audit nightmares.
Discover the benefits of adopting dedicated lease accounting software to streamline your processes and mitigate risks.

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

Unmasking the Mysteries of Day 2 Lease Accounting

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

Discover the advantages of conducting regular lease and policy reviews.
Learn how to effectively manage continuous lease remeasurements, such as reassessments, modifications, and impairments, to improve clarity and efficiency.
Determine the steps to evaluate leases for impairment and apply the appropriate accounting treatment.

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.