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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. 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.

Learning Objectives

  • You will be able to identify the basic Leasing principles.
  • You will be able to identify the impacts of the changes with the new Lease Standard.
  • You will be able to identify the new accounting for leases which was previously classified as operating leases.
  • You will be able to identify Remeasurement types.

Runtime: 97 minutes
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Why Lorman?

Over 33 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 33 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

This course was last revised on March 6, 2020.

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

  • CPE/NASBA - QAS Self Study 2.6 including Business Law 2.6
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study 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: 2.6 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Business Law for 2.6 hours. Prerequisite: basic knowledge of taxation. Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement 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.
     
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Why Lorman?

Over 33 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 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
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 33 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: 407640
Published 2020
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