CPAacademy.org | UNMASKING THE MYSTERIES OF DAY 2 LEASE ACCOUNTING

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Unmasking the Mysteries of Day 2 Lease Accounting

Accounting

UNMASKING THE MYSTERIES OF DAY 2 LEASE ACCOUNTING

This presentation is on the presenter's platform and is part of the FASB Lease Summit 2024

Cost Free

CPE Credits 1.0 hour

Subject Area 1.0 - Accounting

CE Credits 0.0 hours

Course Level Basic

Instructional Method Group Internet Based

Prerequisites None

Advanced Preparation None

Who Should Attend CFO / Controller
CPA - small firm
CPA - medium firm
CPA - large firm
Real Estate Professional

Course Description

Don’t let the complexities of Day 2 lease accounting spook you!

Learn the critical importance of ongoing lease reviews in maintaining compliance and optimizing your lease portfolio, ensuring it remains a well-kept home rather than a haunted house of errors. Master lease changes, summarizing the steps, calculations, and journal entries necessary to record various modifications and transactions with precision. Learn how to recognize lease portfolio changes promptly and rectify mistakes, preventing them from haunting your financial statements.

Finally, conquer the task of impairment evaluation, mastering the process of assessing leases for impairment and applying the appropriate accounting treatment, ensuring your financial reporting remains transparent and free from spectral distortions.

Learning Objectives:

Outline the advantages of conducting regular lease and policy reviews

Identify how to effectively manage continuous lease remeasurements, such as reassessments, modifications, and impairments, to improve clarity and efficiency

Determine the steps to evaluate leases for impairment and apply the appropriate accounting treatment

FASB Lease Summit: A Lease Accounting Horror Story in 3 Acts
This season, trade your tricks for treats and your spreadsheet nightmares for lease accounting ease. This course is part of the 3-webinar summit on October 20, 2024. View the other courses' details here: 1 - 2 pm ET: AVOID AN AUDIT HORROR SHOW: TRICKS AND TREATS FOR LEASE ACCOUNTING COMPLIANCE 2 - 3 pm ET: SPREADSHEETS NIGHTMARES: REAL-WORLD LEASE ACCOUNTING HORROR STORIES 3 - 4 pm ET: UNMASKING THE MYSTERIES OF DAY 2 LEASE ACCOUNTING

FASB Lease Summit: A Lease Accounting Horror Story in 3 Acts

This season, trade your tricks for treats and your spreadsheet nightmares for lease accounting ease. This course is part of the 3-webinar summit on October 20, 2024. View the other courses' details here:

1 - 2 pm ET: AVOID AN AUDIT HORROR SHOW: TRICKS AND TREATS FOR LEASE ACCOUNTING COMPLIANCE

2 - 3 pm ET: SPREADSHEETS NIGHTMARES: REAL-WORLD LEASE ACCOUNTING HORROR STORIES

3 - 4 pm ET: UNMASKING THE MYSTERIES OF DAY 2 LEASE ACCOUNTING

Abdi Ali

FinQuery
Technical Accounting Consultant
[email protected]
(800) 880-7270

Abdi Ali is an Accounting Manager at FinQuery. A former Grant Thornton audit associate, Abdi helps FinQuery’s customers understand and implement the new lease standards. While at Grant Thornton, he assisted in the audits of various publicly traded and privately held clients. He also has experience as a general ledger accountant. Prior to FinQuery, Abdi earned a Bachelor’s degree in Accounting followed by a Master’s degree in Professional Accountancy from Georgia State University’s Robinson College of Business.

Additional Materials

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About Our Presenter

FinQuery, formerly LeaseQuery, empowers 36,000+ professionals to optimize decisions in their top spending areas—leases, software subscriptions, and financial contracts—setting them apart in the market. Their award-winning AI-driven software minimizes risk, boosts efficiency, and cuts costs. Explore FinQuery’s Platform for contract and spend intelligence, including solutions for contract management, specialized accounting ensuring compliance with ASC 842, IFRS 16, GASB 87 and GASB 96, and software management.