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100-minute live streaming program
  • October 29
  • 1:00 - 2:40 pm EST

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Audio & Reference Manual

Bridging the GAAP: The New Lease Accounting Standards, Lease Drafting and Negotiations

October 29

Gain a better understanding of the new lease accounting requirements and how to comply with them.

In April 2016, after many years of deliberations, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) issued new rules that required companies to put all real estate and other leases on their balance sheets. These new GAAP and IFRS rules, which start going into effect in January 2019, have wreaked havoc in the industry. Because every company needs certified financial statements, and because time is running short, companies have adopted technology and assembled SWAT teams to get them into compliance.

This topic helps accounting, legal and corporate real estate professionals gain a better understanding of the new rules and how to comply with them. It will outline some of the more important nuances in the rules, and some industry best practices in identifying, organizing and tracking leases in order to report on them reliably and consistently. This information is critical for attorneys, accountants and general real estate practitioners who work with companies that need to report their financial statements on a GAAP or IFRS basis.

Learning Objectives

  • You will be able to discuss the new lease accounting requirements.
  • You will be able to review the break down on financial components of leases for accounting purposes.
  • You will be able to recognize finance vs. operating leases.
  • You will be able to explain why a corporate real estate team needs more resources.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

What's the Fuss About the FASB Lease Accounting Changes?
  • Need to Increase Transparency Around Financial Statements
  • All Leases Need to Be Put on the Balance Sheet
  • Lease Financial Components Need to Be Identified and Separated
How Are Companies Handling the Changes?
  • Locating and Organizing Leases
  • Adopting New Technology
  • Working With Advisors
How Should Lease Forms Change in Response?
  • Clearly Identify Rent Components
  • Standardizing Lease Forms
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

Live Webinar Registration

  • AIPB 2.0
     
  • This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
     
  • CPE 2.0 including Specialized Knowledge 2
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: https://www.nasbaregistry.org/cpas/complaints. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.0 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 2.0 hours. Prerequisite: basic knowledge of general accounting. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: Group Internet Based. Please refer to the information in this brochure for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board. Please note: In order to receive CPE credit for this course you MUST use the streaming audio option, as well as enable and complete the required progress checks.
     
  • Lorman Business Center, Inc. is a registered provider for CPA CPE through the State Education Department of New York, Sponsor number: 000640. The following course will carry the subject area of Specialized Knowledge and Applications for 2.0 hours.
     

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Who should attend?

This live webinar is designed for accountants, CPAs, CFOs, controllers, presidents, vice presidents, finance directors, tax managers, bookkeepers, business owners and managers.

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Marc E. Betesh, Esq., MCR.h

Marc E. Betesh, Esq., MCR.h

KBA Lease Services

  • Founder and president, KBA Lease Services, a consulting company that pioneered and leads of auditing real estate leases for commercial tenants
  • Founder and president, Visual Lease, a real estate technology company focused on lease administration and lease accounting
  • Member of CoreNet, ICSC, Association of the Bar of the City of New York, New York State and American Bar Associations
  • Consistently ranked among the Top-Rated Faculty at CoreNet Global Learning
  • Frequent lecturer on lease topics at New York University’s Real Estate Institute, American Bar Association, Association of the Bar of the City of New York, ACREL, New York State Society of CPAs, National Retail Tenants Association, ICSC and the Institute of Internal Auditors
  • Author of numerous articles regarding commercial leases, operating expense/CAM clauses and lease accounting
  • Contributor and authority on the FASB changes to lease accounting
  • J.D., Georgetown University Law Center; B.A., Temple University
  • Can be contacted at 732-596-8111 or [email protected]
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Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 402047
Published 2017, 2018
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