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Webcast Details:

Program Name
Revenue Recognition & Lease Accounting - Overview & Implementation Issues
Program ID
76208
Start Date (Local)
3/21/2013 (Local Time)
Start Date
3/21/2013 12:00:00 PM Eastern (EST/EDT)
End Date
3/21/2013 3:30:00 PM Eastern (EST/EDT)
Enrollment close
Credits
4
Field of Study
Accounting -- 4 Credits
Price
$125.00
Instructor(s)
Description
Lease accounting has long been regarded as unsatisfactory. A second joint FASB/IASB exposure draft has been developed to address the shortcomings and as well as the criticisms from preparers and users. It rebuilds lease accounting from the ground up and will have a major effect on clients and their numbers. This course provides a comprehensive analysis of the exposure draft and its impact on your company and/or clients.

In addition to lease accounting we will discuss revenue recognition. Revenue is probably the most important number in the financial statements. After years of effort a joint FASB/IASB standard has been issued. It rebuilds revenue accounting from the ground up. This course provides a comprehensive analysis of this guidance and its impact on your company and/or clients.
Prerequisites
None
Advanced Preparation
None
Level
Update
Learning Objective
Participants will: * Understand how the transition from operating leases to capitalization will affect companies of all sizes * Learn how the balance sheet treatment of leases will alter financial statement numbers, ratios and loan covenants * Understand how lease contingencies are incorporated into the lesseeā€™s calculations of assets and obligations * Study the proposed receivables and residual approach to lessor accounting * Gain insights into how companies can implement the lease standard in a cost effective manner * Learn how OCBOA (cash and tax basis accounting) may provide smaller companies with a more cost effective approach to presentation * Understand the fundamental principles of the contract- based approach to revenue recognition developed by FASB and IASB * Learn how to analyze contracts and account for them in terms of their performance obligations * Study how basic guidance is interpreted in more complex transactions using extensive implementation examples. * Understand how the new approach to revenue will affect companies in a variety of industries * The multiple deliverables issue and its effect on revenue and cost calculations. * Learn how the percent of completion approach may be altered by the revised accounting model
User Limit
0
NASBA ID
108061
Practice Areas
-