As a finance professional, you know that lease accounting, even under ASC 840, was loaded with landmines. It’s a topic that was very rules-based and required a great deal of effort to master. Now, with ASC 842, the new lease accounting standard being effective, you’re learning about lease accounting never ends. Understanding and implementing this new guidance will require a deep level of expertise in this complex accounting standard.

With ASC 842 now effective, you need to have a detailed understanding of this new guidance in order to accurately apply it. Available CPE/CE study courses help financial professionals keep pace, but it’s important to select the course that truly builds your knowledge base. Consider these Surgent CPE courses, which align with new requirements, are taught by recognized experts, and efficiently equip financial professionals to guide their clients and firms to optimal outcomes regarding the tax implications as lessees and lessors.

Examining ASC 842, Leases: More Than Meets the Eye (NLS4)
Topic 842’s effective date is here. Now is the time to get up to speed on this complex new standard, because implementing ASU No. 2016-02, Leases (Topic 842), is sure to have a major impact on your balance sheet and, potentially, your business. This course is a one-stop shop for all you need to know about the changes now in effect to the lease accounting guidance.  

In this course, we will review: 

• How to measure the lease liability and right-of-use asset that will now be recorded on the balance sheet for all leases 
• The tricky issues of accounting for lease modifications and other lease remeasurement events 
• Other major provisions of ASC 842, such as disclosures and transition 
• The income statement treatment of lease expense for all leases for both lessees and lessors and discuss recent FASB implementation guidance
• All recent updates to the originally issued guidance in Topic 842, including that related to discount rates 

This course is designed for practicing CPAs and their staffs, in public accounting and business and industry, including controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review. By completing this course, you can expect to:

• Comprehend and apply the FASB’s comprehensive new lease accounting guidance found in ASU No. 2016-02, Leases (Topic 842)
• Recall operational issues in adopting the new lease accounting standard 

Some of the topics covered in this course include: 

• ASU No. 2016-02, Leases (Topic 842)
• Overall lease accounting guidance 
• Lessor Accounting 101
• Lessee Accounting 101
• Detailed review of accounting by lessees and lessors
• Sale and leaseback transactions
• Transition guidance
• Recently issued updates to the lease accounting guidance 

The Impact of Changing Standards on Both Lessors and Lessees (AALL)
The effective date for ASU 2016-02, Leases (Topic 842), is finally here, and now is time to get up-to-date on all that is going on regarding lease accounting. As a reminder, the new standard eliminates one of the largest forms of off-balance sheet accounting and requires most leases to be brought onto the balance sheet irrespective of their classification as either financing or operating.  

ASC 842’s new guidance also makes other changes in lease accounting for both lessees and lessors. This course will discuss the impact of these changing standards on both lessees and lessors, plus recently issued updates to ASC 842.  

This course is designed for practicing CPAs and accounting professionals in business and industry who prepare and review or audit financial statements. By completing this course, you can expect to: 

• Identify finance lease transactions, including both lessor and lessee perspectives 
• Understand the proper accounting and financial reporting treatment for operating and finance leases 
• Describe how lessor accounting is influenced by revenue recognition and measurement concepts 
• Explain important transition issues from the current to new standards  

Some of the topics covered in this course include:

• Outcomes of the recent FASB and IASB Joint Project related to Leases 
• Differentiating between accounting and reporting requirements for operating and finance leases
• Evaluating possible material misstatement related to lease recognition, measurement, presentation and disclosure

Applying Lessons Learned to Assure a Successful ASC 842 Adoption (LLL2)
With the effective date of ASC 842, Leases, imminent, it’s time to get tactical with your implementation plan. In this webinar, you will learn best practices from those who have already completed ASC 842 adoption to help assure a successful implementation of this complex accounting standard. With time at a premium, this webinar will allow you to focus on the important activities that you should be doing now to complete your ASC 842 implementation.

This course is designed for practicing CPAs and their staffs, in public accounting and business and industry. That includes controllers, accountants, and other financial accounting personnel involved in financial statement preparation and review. By completing this course, you can expect to:

• Identify best practices for successful ASC 842 adoption 
• Recall common challenges when applying ASC 842 guidance
• Identify tools to assist with successful ASC 842 adoption

Some of the topics covered in this course include:

• ASU No. 2016-02, Leases (Topic 842)
• Implementation challenges in adopting ASC 842
• Common pitfalls and errors in applying ASC 842
• Best practices in implementing ASC 842
• Use of lease accounting software for successful implementation and ongoing accounting

What in the FASB Were They Thinking! Not-for-profits and Leases (WITF)
Not-for-profits enter into leases for many types of assets. This course is designed to help you understand the core components of not-for-profit lessee accounting under FASB ASC 842, Leases. You will learn the important definitions involved, the key decision points involved in applying the standard, and how to think through those decision points.

This course is designed for not-for-profit industry professionals and auditors. By completing this course, you can expect to:

• Skillfully prepare for the implementation of FASB ASC 842 
• Become comfortable with the application of FASB ASC 842 in the not-for-profit environment

Some of the topics covered in this course include:

• Evaluating whether a contract meets the definition of a lease 
• Properly calculating the lease term 
• Determinations and decisions to be made regarding short-term leases 
• Distinguishing operating leases from finance leases

What to look for in a CPE course
If ever continuing education meant more than credit hours to maintain licensure, this is the time. The new and pending changes to lease accounting demand that finance professionals seize control of a nuanced set of guidelines, for the sake of clients, their firms, and their careers.

The CPE/CE courses you choose should deliver maximum impact in minimum time. Watch for these factors:

• Knowledgeable, experienced instructor 
• Clear presentation that keeps your interest 
• Content updated to changing standards
• Relevant reference materials
• Ability to ask questions
• Applicability to your area of practice
• Convenience that suits your schedule and respects your time

Surgent CPE provides CPE courses you need to succeed
With Surgent, you study smarter, not harder. Surgent’s packages let you choose self-study or webinar learning, or even unlimited access to both. If you’re looking for quality CPE/CE courses to help you stay up-to-date and better serve your clients, learn how Surgent CPE can meet all your needs.