Mastering Lease Accounting under US GAAP (ASC 842)
Category : Consolidation, US GAAP, Accounting
Duration: 5 days
Lease accounting under ASC 842 introduces significant changes to how companies recognize and report leases. This training program focuses on mastering the principles of lease accounting, including the recognition, measurement, and disclosure of lease liabilities and right-of-use assets. Participants will learn how to apply ASC 842 to real-world scenarios and ensure compliance with the standard in their financial reporting.
Learning Objectives
Understand the key principles of lease accounting under ASC 842
Recognize and measure lease liabilities and right-of-use assets
Apply the new standard to operating and finance leases
Ensure accurate disclosure of leases in financial statements
Training Program
Introduction to ASC 842
Overview of the key changes introduced by ASC 842
The difference between operating and finance leases under ASC 842
Practical case: Identify key changes in a company’s lease accounting due to ASC 842
Recognition and Measurement of Lease Liabilities and Right-of-Use Assets
Calculating lease liabilities and recognizing right-of-use assets
Initial and subsequent measurement of leases
Practical case: Measure lease liabilities for a corporate lease
Operating vs. Finance Leases
Criteria for classifying leases as operating or finance leases
Accounting treatment for both types of leases
Practical case: Classify and record a finance lease for a manufacturing company
Disclosure Requirements for Leases
Required disclosures under ASC 842 for lessees and lessors
Practical case: Prepare lease disclosures for a retail company’s financial statements
Challenges and Best Practices for ASC 842 Implementation
Common challenges in adopting ASC 842 and how to overcome them
Best practices for compliance and reporting under ASC 842
Practical case: Develop an ASC 842 implementation plan for a multinational corporation
Key Points
Numerous practical examples illustrating the different studied concepts
Practical cases to draw parallels with the concepts learned
Who Should Attend This Training
Accountants and financial controllers
Real estate and lease management professionals
Auditors and compliance officers
Financial analysts and corporate finance professionals
Prerequisities
Basic knowledge of financial reporting and lease accounting
Teaching Methods
Training structured around skill transfer
Acquisition of operational skills through practice and experimentation
Collaborative learning during synchronous sessions
Multi-stage learning path to allow engagement, learning, and transfer
Training promoting participant engagement for better anchoring of lessons
Satisfaction and Evaluation
Skill evaluation will be conducted throughout the training by the participant (self-evaluation) and/or the trainer according to the training methods.
Online training evaluation on your participant space:
Immediate evaluation at the end of the training to measure your satisfaction and perception of skill improvement against training objectives. With your agreement, your overall rating and comments will be published on our site via Verified Reviews.
Post-training evaluation 40 days later to validate the transfer of your acquired skills in the workplace
Attendance tracking and issuance of an individual training certificate or a certificate of completion
LONDON
128 City Road, EC1V 2NX London
PARIS
38 Rue Boulard, 75014, Paris