Course ID: AAUNLS

Accounting & Auditing Under the New Leasing Standard

The revised effective date for private companies’ adoption of the new leasing standard (ASC Topic 842, Leases) is now January 1, 2022!

Question: Will you be prepared to properly audit such transactions?

This session is designed to provide external auditors with practical and insightful perspectives on how to audit transactions under the Financial Accounting Standards Board’s (FASB) new leasing standard. You’ll learn the new accounting and financial reporting requirements and how to substantively and analytically test them in accordance with Professional Standards.


Learning Objectives
  • Explain the FASB’s new leasing standard requirements
  • Describe and discuss the new accounting and reporting requirements of leases
  • Discuss which audit procedures to perform
  • How to properly audit the transition requirements and initial adoption of the new standard

Major Topics
  • Learning about ASC Topic 842, Leases, particularly the FASB’s new take on how operating leases will now be recognized on the balance sheet as well as the new presentation and disclosure requirements, practical application, and how to properly audit them

Advanced Preparations

None


Who Should Attend

Practitioners in public practice who conduct audits of privately-held organizations who have adopted ASC Topic 842.


Fields of Study
Accounting, Auditing

Prerequisites

General knowledge of ASC Topic 842 and AICPA Professional Standards


Provider
Business Learning Institute

CPE Credits
4.0

Level
Intermediate

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: 888-481-3500 or team@blionline.org
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