Restaurant MasterClass: Implementing the New Lease Accounting Standard for US GAAP Financial Reporting

The new lease accounting standard, ASC 842, is now effective for fiscal years beginning after December 15, 2021. Have you started implementing ASC 842, or do you need a refresher on what is required to be compliant by the end of the fiscal year 2022? ASC 842 will affect every company holding leases as it accounts for a company’s lease obligations on the balance sheet as a right-of-use asset and a lease liability. ASC 842 is a complex and tedious new standard so having a knowledgeable partner to assist with implementation is important as you develop new financial reporting processes and internal controls.

Join our Assurance & Business Advisory Director Dustin Minton and Senior Manager Kristin Romaker as they describe the best practices and processes to ensure you have a smooth implementation. Topics to be discussed include, but are not limited to:

• Lease tracking solution (Excel vs. lease software)
• Resources needed to implement and maintain
• Identifying the lease portfolio
• Evaluating the lease agreements and overall scope
• Calculating the lease obligations and right of use assets
• Financial reporting and disclosures
• Internal control processes going forward

This webinar qualifies for 1.0 hour of CPE based on Ohio CPE requirements.

Please note our webinar sessions can accommodate a maximum of 250 individuals. Should you experience difficulties accessing the live broadcast, it is likely due to reaching attendee capacity. For your convenience, a recording will be made available on our webinar recording webpage following the presentation.