Description: An examination, evaluation, and exploration of the NEW accounting guidance: Accounting for Leases. This joint standard (FASB & IASB) will dramatically change companies accounting for leases, with special emphasis on the Statement of Financial Position and on financial leverage.
Using a lecture/discussion format with worked examples the workshop will illuminate the differences between the current accounting for leases, for both US GAAP and IFRS and how that will change when the new standard is issued.
Field of Study: Accounting
Program Level: Intermediate
Method of Delivery: Group — Live
Intended Audience: Financial Accounting Instructors/Professors with a basic knowledge of lease accounting as well as practitioners desired insight into the new accounting standard on accounting for leases.
Format/Structure: Lecture/Discussion with Powerpoints and worked examples that we will cover in depth from the perspectives of the lessee and the lessor. Participantws will be provided handouts for all the material covered.
Learning Objective: 1. Application tools to bring to the classroom in order to update students comprehension of lease accounting.
2. Deepening knowledge of the impact that the standard will have on the statement of financial position, as well as the other financial statements.
Prerequisites: Basic knowledge of current GAAP for Accounting for Leases
Advanced Preparation Required: Review any intermediate text for a discussion of Accounting for Leases