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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.

Runtime: 97 minutes
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Why Lorman?

Over 32 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 32 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 Webinar

Applications have not yet been submitted for Delaware, Idaho, Kentucky, 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.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.6
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.6 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MT CLE 1.75
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.75 CLE credits.
     
  • ND CLE 1.5
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.5 hours of CLE credit.
     
  • NH MCLE 1.6
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 97 Minutes.
     
  • NJ CLE 2.0
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.0 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • NY CLE 2.0 including Areas of Professional Practice 2
     
  • This course has been approved in accordance with the requirements of the New York Continuing Legal Education Board for up to a maximum of 2.0 credit hours in the area(s) of Areas of Professional Practice for 2.00 hours. Each hour may be counted only as satisfying one category of credit. Duplicate credit for the same hour of instruction is not permitted. This course qualifies for both established and newly admitted attorneys. Lorman Business Center, Inc. has a financial hardship guideline. Please contact customer service at 1.866.352.9539 for instructions on how to apply.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of self-study CLE credit.
     
  • WI CLE 2.0
     
  • This program qualifies for 2.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
     
  • WV MCLE 2.0
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
     
  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     
The CLE Code is ONLY a requirement when applying for CLE Credit in New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • NY CLE 2.0 including Areas of Professional Practice 2
     
  • VT CLE 1.5
     
  • WA CLE 1.75
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • NY CLE 2.0 including Areas of Professional Practice 2
     
  • VT CLE 1.5
     
  • WA CLE 1.75
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

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More Program Information

Why Lorman?

Over 32 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 -KBA Lease Services

  • Founder and President, Visual Lease -KBA Lease Services, a consulting company that pioneered and leads the field of auditing real estate leases for commercial tenants
  • Founder and President, Visual Lease, SaaS 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, Practicing Law Institute, Association of the Bar of the City of New York, ACREL, Lorman Education, 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. degree, Georgetown University Law Center; B.A. degree, Temple University
  • Can be contacted at 732-596-8111, [email protected], or www.visuallease.com
Alexandra Betesh

Alexandra Betesh

Visual Lease -KBA Lease Services

  • 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
Phil Peters

Phil Peters

Visual Lease -KBA Lease Services

  • 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 32 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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