Cherry Bekaert & LeaseQuery: Preparing for Year End: Required Disclosures and Asset Impairments

Course Description

In this session, we will outline the quantitative and qualitative disclosures required under each of the new lease accounting standards from the FASB, IASB, and GASB. Our review will include detailed explanations of the new disclosures and related calculations, and also highlight the differences and similarities with the legacy accounting standards. The second part of the presentation will be a discussion of the accounting for asset impairments under the new standards, with an emphasis on analyzing lease assets at year-end.

Learning Objectives

  • Identify the new requirements for disclosures under ASC 842, GASB 87, & IFRS 16
  • Understand how scope affects your lease portfolio and disclosures
  • Define asset impairment and how to determine if impairment analysis is necessary
  • Summarize how to account for impairments and the resulting adjusting entries

Prerequisites

  • None

Who Should Attend

Accounting and finance professionals whose organization (private or public) manages a medium-to-high volume of leases may benefit most from this live webinar event, along with CPAs who serve clients with a high volume of leases or manages complex leases.

Advanced Preparation

None

Presenters

Abdi Ali

Abdi Ali

Accounting Manager at LeaseQuery

abdi.ali@leasequery.com

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.

Jason Parker Headshot

Alex Wiley, CPA

Senior Manager, Risk & Accounting Advisory Services at Cherry Bekaert

Alex Wiley is a Senior Manager with 15 years of experience in public accounting and consulting in Cherry Bekaert’s Risk & Accounting Advisory practice. Alex assists middle-market clients with new Accounting Standard Codification (“ASC”) implementations, control governance, financial management, and risk compliance. Alex leads the ASC 842/GASB 87 implementation group, working on various counties, municipalities, airport authorities, schools systems and quasi government entities, assisting in all areas from technical advisory support, lease software selections, operational and financial reporting impact of implementation.

CPE Webinar

Date & Time

Sep 13, 2022 – 1:00 PM ET

Course Information

COST FREE
CREDITS 1.00 hours
SUBJECT AREA Accounting
COURSE LEVEL Basic
DELIVERY METHOD Group Internet Based

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.