Restaurant MasterClass: Implementing the New Lease Accounting Standard for US GAAP Financial Reporting
June 9, 2022
11:00 AM – 12:00 PM EDT
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.