ASC 842 in the Real World: Process, Precision, and Pitfalls

Overview

At the end of this module, participants will be able to comprehend the structure, purpose, and key features of ESOPs, evaluate the tax advantages and legal considerations associated with them, and analyze the governance and other important details of ESOPs. This course is offered in partnership with Project Equity.

Highlights

Prerequisites

Work experience in financial reporting or accounting, or an introductory course in accounting.

Objectives

• Identify the criteria for determining whether a contract contains a lease under ASC 842.
• Recognize key measurement principles for right-of-use assets and lease liabilities, including present value and classification considerations.
• Identify common remeasurement triggers, modifications, and impairment issues in lease accounting.
• Recall practical process controls and communication practices that reduce risk in lease administration and accounting.

Notice

This is a self-study/on demand course offered by a 3rd party vendor and will NOT be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by CalCPA. The course expires one year from the purchase date. Format = Online Self-Study.