Jackson Thornton & LeaseQuery: Applying the New Lease Guidance: ASC 842
Course Description
Join Jackson Thornton and LeaseQuery for a comprehensive example of how to apply the new FASB lease accounting standard, ASC 842.
The presentation will discuss the identification of key dates necessary to complete the calculations for compliance. The presenters will then review some of the common contract components and their accounting treatment under ASC 842. The final section of this presentation will be applying the concepts discussed to an example to calculate and record the transition and subsequent entries for an operating lease.
Learning Objectives
- Identify key dates in a lease agreement to determine the lease term
- Recognize the contract components and calculate each component’s impact to the lease liability and ROU asset calculation
- List the various discount rate options and determine the appropriate discount rate to apply
- Understand the initial and subsequent journal entries for an operating lease under ASC 842
Prerequisites
- None
Who Should Attend
Accounting and finance professionals whose companies manage a medium-to-high volume of leases will benefit most from this event, along with CPAs who serve clients with a similar volume of leases.
Advanced Preparation
None
Presenters
Abdi Ali
As a former Grant Thornton audit associate, Abdi assisted in the audits of various publicly traded and privately held clients. He also has notable experience as a general ledger accountant. In Abdi’s current role as an Accounting Manager at LeaseQuery, he demonstrates the product to prospective clients and serves as a resource to current clients looking for guidance on understanding and implementing the new lease standards.
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Date & TimeMay 17, 2022 – 1:00 PM ET |
Course Information
| COST | FREE |
| CREDITS | 1.00 hours |
| SUBJECT AREA | Accounting |
| COURSE LEVEL | Basic |
| DELIVERY METHOD | Online |
Register for this webinar below.
SPONSOR STATEMENT
LeaseQuery 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@leasequery.com.
PROGRAM CANCELLATION POLICY
If a program is cancelled, LeaseQuery will notify registrants via the email address that they used to register for the program.