2019-01, Leases (Topic 842): Codification Improvements Organization of the text Each chapter of this Handbook includes excerpts from the FASB’s Accounting Standards Codification® and overviews … No representation or warranty (express or implied) is given as to the accuracy or … 2018-10, Codification Improvements to Topic 842, Leases — No. ASC 842—Lease accounting The new FASB and IFRS lease accounting standards (ASC 842 and IFRS 16) will take effect in 2019 for public companies and in 2021 for private companies. However, the related lease …

This session will focus on: US GAAP vs. IFRS; …

Program Content: Now that public companies have implemented ASC 842, Leases, we would like to take a look at some common post-implementation issues, including those associated with the effects of COVID-19.

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learning objectives: Identify common practice issues in accounting for leases under ASC 842 As a result, international companies need to maintain two sets of lease calculations for each operating lease, and two sets of balance sheet reconciliations to track liability and asset balances. The new Leasing Standard has finally been issued.


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2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors — No. Learn how to prepare and implement the new leasing standard with our concise, easy-to-understand guide. The new guidance standardizes how companies should account for leases under U.S. GAAP and IFRS.

This webcast will cover accounting for rent concessions, impairment, lease reassessment, and more. COVID-19’s impact on lease accounting Leases Navigating the guidance in ASC 842 . The initial and subsequent accounting by lessees for operating leases and finance leases, including specific issues such as evaluating ROU assets for impairment, applying ASC 842 to leases denominated in a foreign currency and recognizing leases acquired in business combinations and asset acquisitions . This publication was created for general information purposes, and does not constitute professional advice on facts and circumstances specific to any person or entity. The standards bring many leases onto the balance sheet and could significantly impact a business’ financial statements. Guidance for ASC 360 provides for generally excluding financial liabilities (such as long-term debt) and including operational liabilities (such as accounts payable) in the cash flows used to test recoverability. Accounting for Leases: New Rules (ASC 842) Aug 17 - 18, 2020 VIRTUAL (PDT) Pacific Daylight Time.

The adoption of ASC 842 for public companies resulted in the significant addition of lease liabilities and ROU assets recorded on an organization’s books, therefore, organizations should ensure that leased assets are included on its list of long-lived assets to evaluate for impairment.
Under ASC 842, the only leases that are exempt from the … Under existing GAAP, operating leases are not classified as long-lived assets and are accordingly excluded from an asset group when testing for recoverability (i.e., possible impairment).

if collectibility [at the individual lease level] is not considered probable,” the lessor recognizes lease …

ROU assets recognized as a result of the application of ASC 842 are subject to the long-lived asset impairment testing guidance prescribed by ASC 360, Property, Plant, and Equipment. The Deloitte roadmap to applying ASC 842 The new lease accounting standard is estimated to bring $2 trillion of lease liability into S&P 500 balance sheets. This conference will go through the new guidance and address the latest developments in key areas, … At lease commencement and subsequently, . 2018-11, Leases (Topic 842): Targeted Improvements — No. The New Lease Accounting Standards (ASC 842 and IFRS 16) present major new challenges for companies that report under both US GAAP and IFRS.


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