Leasing is a popular form of capital investment and almost every corporation, including nonpublic entities, has some type of leasing arrangement. We'll take a look at various topics, including the treatment of accounting for leases; transition and disclosure requirements; relief given to nonpublic entities; and any new developments stemming from the FASB and IASB joint project dealing with leases and the goal of capitalizing both the Right-of-Use Asset and the Lease Liability.
Identify the treatment of accounting for leases by the lessees.
Determine the transition and disclosure requirements summarized, including the relief given to nonpublic entities.
FASB ASC 842
CPAs, auditors, consultants, and financial and management professionals.
Advanced Prep: None
Speaker: Bobbe Barnes
Field of Study: Accounting & Auditing
CPE Credit: 1.5 hours
Meet the Speaker:
Bobbe Barnes is an educator and consultant with professional experience in IFRS, US GAAP and certification training around the world. She recently completed nine years overseas working in emerging economies, where she led the team that developed the Certified International Professional Accounting certificate program, comprising training courses and examinations. Ms. Barnes has worked around the world, including the USA, Africa, Central and Eastern Europe, Central Asia, Russia, Ukraine, Middle East, China, Indonesia, Malaysia, Mongolia and South Korea. Ms. Barnes is a CPA, a Certified Management Accountant (CMA) and a Certified Government Financial Manager (CGFM). In addition, she is active in the Institute of Management Accountants, having served on the Board of Directors, and is currently serving on the Standing Advisory Committee of the IMA Leadership Academy. Recently, she was a keynote speaker at the International Accounting and Auditing Conference in Tashkent, Uzbekistan and a speaker at the fifth annual Middle East IFRS and Accounting Summit 2009 in Dubai, where she also conducted a full day workshop on Financial Instruments.