Gain a better understanding of the new lease accounting requirements and how to comply with them.
The adoption of the new lease accounting standards from the FASB, IASB and GASB have already seen far reaching financial and organizational implications for companies of all sizes and are affecting the advice and counsel their advisors and attorneys provide during lease negotiations. The advent of these new lease accounting standards require all parties to a lease, and their advisors, to understand how concepts such as how a renewal option can result in a 10 year lease being accounted for as though it were a 20 year lease, with a near doubling of the impact on the company's balance sheet and other financial results. Importantly, the impacts are not just financial in nature, and the nonfinancial and organizational impacts are widely expected to affect governance, risk and compliance, internal controls, accounting policies, SEC reporting and M&A activity. Many of these areas are most affected by the subjective nature of many aspects of the new standards, and there are many lessons that have been learned in the nearly five years since ASC 842 and IFRS 16 first arrived on the scene. Understanding these issues will be critical for the purposes of helping companies successfully navigate the accounting, reporting, and leasing processes ahead.
Learning Objectives
- You will be able to recognize the steps necessary to be in compliance with the new lease standards.
- You will be able to differentiate the characteristics between the different lease types.
- You will be able to differentiate between lease standards in US GAAP and IFRS.
- You will be able to identify the history, requirements and needs for the new lease standards.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of New Lease Accounting Rules: Cross-Cutting Legal Implications
Background
- What Has Changed
- Pervasive Impacts Across the Company
- Types of Leases - IASB, FASB and GASB Differences - Which Acronym Applies?
Cutting Through the Fog: Drafting and Negotiating Tips
- Key Differences Between Old and New Rules
- Examples of Financial Statement Impact and Differences
Dealing With Subjective Issues: SOX, SEC, GRC and Drafting Considerations
- Is Your 'Lease' a Lease or a Service Agreement.
- Operating vs Finance Leases
- What Are 'Non-Lease Components' and Why They Matter.
- Disguised Minimum Rent
- Renewals and Significant Economic Incentives (SEI)
- Examples of the Impact of SEIs on Financial Statements
The Mechanics of the New Rules: Transaction Structure and Financial Results
- Minimizing Balance Sheet/Shareholder Equity Impacts
- Maximizing EBITDA Results
- Timing Differences: When New Leases and Amendments Impact Financial Reporting
- The New World of Sale-Leasebacks and 'Failed Sale, Sale Leasebacks'
Errors With Lease Accounting Rules: Restatements, Audit Failures and SEC Reporting
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on July 26, 2024.
Call 1-866-352-9540 for further credit information.
CPE/NASBA - QAS Self Study 2.2 including Management Services 2.2
- Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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 web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.2 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Management Services for 2.2 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Marc A. Maiona
LeaseCalcs, Inc.
- Founder and president of LeaseCalcs, Inc., establishing the firm in 2011 as the first SaaS solution to address and solve the problems resulting from the new lease accounting standards from the FASB and IASB
- Represented large, sophisticated tenants across a broad spectrum of industries, including firms like Fidelity Investments, State Street Bank, General Dynamics, Chevron, ExxonMobil, Boston Consulting Group, Andrews & Kurth, Cooley and scores of others in order to assist them with the auditing and accounting related to their real estate leases
- Many articles on the subject of commercial leasing and lease accounting issues have been published in leading industry publications such as Corporate Real Estate Journal
- Regularly serves as a faculty member for CLE and CPE accredited seminars on the subjects of lease accounting and additional rent provisions in office leases, including the “Negotiating Commercial Leases” program for Practising Law Institute, and similar programs for Lorman and other providers of continuing education, and is frequently called upon as an expert witness in commercial leasing disputes
- Bachelor’s degree in economics, University of California, Irvine
- Can be contacted at 949-284-6900 or [email protected]
Add to Wishlist
Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
All of your training, right here at Lorman.
Pay once and get a full year of unlimited training in any format, any time!
- OnDemand Courses
- Live Webinars
- MP3 Downloads
- Course Manuals
- Executive Reports
- White Papers and Articles
Additional benefits include:
- State Specific Credit Tracker
- All-Access Pass Course Concierge
Questions? Call 877-296-2169 to speak with a real person.
Access to all training products for one year
$699/year
Unlimited Lorman Training
With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!
Easy Registrations
Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.
Invest in Yourself
You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.
