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W231: U.S. GAAP Knowledge Series: Implementing ASC 842 accounting for Leases

Accounting Standards Codification (ASC) 842 – Leases is almost effective for nonpublic companies and certain not-for-protfits. In this session we’ll cover the scope, adoption method, key provision and why any of this matters to you. Including impacts on the statement of financial position, financial ratio, and covenants. We’ll go over what you need to know to make sure you understand how leases are classified under ASC 842 and provide examples and illustrations on how to initially calculate and subsequently measure leases under this new standard. Presented by: Mark Robins, CPA, Partner, Assurance Services at Aronson LLC