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OnDemand Course

Lease Accounting: How It Affects Your Business and Preparing for Compliance

Gain insight into how the new guidance will affect your business - now as you prepare for the compliance deadline and in the future.

Many private companies struggle to identify what's changing as a result of the new lease accounting standards and how it impacts their business structure. They also struggle to understand how to adequately prepare for lease accounting compliance deadlines, including what steps they need to take and when. This topic will help those who are responsible for lease accounting better understand how the new guidance will affect your business - now as you prepare for the compliance deadline and in the future. We will explain what you need to be aware of while performing lease accounting, and also guide you through the difficulties of implementing a software solution. This information is critical for accountants to ensure their lease accounting software contains accurate, reliable lease financial information to generate financial reports.

97 minutes
Certificate of Completion
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Why Lorman?

Over 34 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

The Effects of Lease Accounting Changes

  • The Concept Behind the Lease Accounting Changes
  • A View Into How Lease Accounting Changes Your Business

A Look at How to Apply New Guidance

  • How to Classify Different Types of Leases
  • Examining Practical Expedients
  • A Detailed Look Into Lease Costs and Financials
  • Types of Remeasurements and Triggers

Preparation for the Deadline

  • Steps to Effectively Prepare for the 2021 Compliance Deadline
  • Lessons Learned During Public Company Implementation
  • A Comprehensive Step-By-Step Guide to a Successful Implementation

What the Future of Lease Accounting Looks Like

  • Strategic Planning for the Future of Lease Accounting
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Why Lorman?

Over 34 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

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on December 5, 2019.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • WA CLE 1.5
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.5 hours of A/V credit under the Law & Legal Procedure category.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

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

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Why Lorman?

Over 34 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

Visual Lease

  • Founder and CEO of KBA Lease Services, the leading lease auditing firm, and Visual Lease, the #1 lease optimization software provider
  • Practiced law in New York City where he negotiated commercial leases; as an attorney, Betesh became widely recognized as an expert on commercial lease negotiation, lease interpretation, and expense reimbursement clauses; during this time, he conceived the idea of lease auditing and introduced it to the commercial real estate industry, which led him to create his two companies
  • Instrumental in shaping the foundation of lease accounting standards in the industry, which are still in practice today, making him a thought leader on the standards (GASB 87, ASC 842, and IFRS 16)
  • Regarded as top-rated faculty at CoreNet Global Learning and often lectures on lease topics at New York University’s Real Estate Institute, American Bar Association, Association of the Bar of the City of New York, Practicing Law Institute, ICSC, Lorman Education Services, and the Institute of Internal Auditors
  • Active member of the New York and New Jersey Bars
  • 2018 and 2019 Finalist for The EY Entrepreneur of the Year New Jersey Awards
  • KBA was the pioneer of commercial lease auditing in 1985 and remains the signature firm in the industry; it has represented thousands of companies in almost every leasing market within the U.S., helping them to eliminate overcharges in their commercial leases; Visual Lease is the #1 lease optimization software provider that helps organizations become compliant with FASB, IFRS, and GASB lease accounting standards, while simultaneously improving the financial, legal, and operational performance of their leases; it incorporates numerous lessons learned through KBA’s work and is one of the top systems in its field, used by 800+ organizations to manage 500,000+ real estate, equipment, and other leased assets
  • In 2021, Visual Lease was named a Best Place to Work in New Jersey by NJBIZ and ranked in the top 20% of the Inc. 5000 list and included in The Deloitte Fast 500™ for the second consecutive year; the organization was also included on the list of The Top 100 Software Companies of 2021 by The SoftWare Report and honored with a Bronze Stevie® Award in the Fastest Growing Company of the Year category in The 19th Annual American Business Awards®
  • J.D. degree, Georgetown University; B.A. degree, Temple University
  • Can be contacted at [email protected] or www.visuallease.com
No photo available

Alexandra Betesh

Visual Lease

  • Vice President of Client Services at Visual Lease -KBA Lease Services
  • Joining Visual Lease in 2013, she is Visual Lease’s Vice President of Client Services
  • Over time, she has been mastering the lease management and accounting needs through her roles in support, account management, abstracting management, implementation and training As a leader, she has been heavily influenced by her prior experience on the other side of the table with the procurement team at News Corporation, her analysis and client interaction skills from her analytics experience at Bloomberg, and her idea creation and project execution skills from her TV producing endeavors
  • As VP of Client Services, her mission is to make sure all Visual Lease clients are happy with the platform and services they receive
  • Her team breaks into two groups: Professional Services and Customer Success; the Professional Services team addresses the technical and functional needs of the client from the moment they engage with Visual Lease’s platform, through implementation, training, abstracting and other services; Customer Success focuses on the overall success of clients and their adoption of Visual Lease within their businesses
  • The Customer Success team provides proactive and reactive solutions and tools through support, success management and platform education; Client Services partners closely with the product, engineering, alliances, account management and sales teams to ensure clients’ voices are heard throughout the organization
  • B.A. degree in finance and management, minor in producing, New York University’s Stern School of Business
No photo available

Phil Peters

Visual Lease

  • Vice President, Product Management at Visual Lease -KBA Lease Services
  • A senior leader in the Visual Lease Technology organization since 2010
  • As VP of Product Management, he manages all aspects of the Visual Lease Platform Strategy and Roadmap
  • With years in the lease administration and lease accounting space, he brings expertise in those industries that allows Visual Lease to provide best in class products for our clients
  • Over 23 years of IT experience, focused on hosted web-based software solutions with a strong cross-section of industries and company sizes
  • Before joining the Visual Lease team, he worked at PriceWaterhouseCoopers, Metropolitan Life, JPMorganChase and the USGA
  • B.S. degree, Cornell University School of Engineering
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Why Lorman?

Over 34 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: 406726
Published 2019
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