Getting Started with Leases

By now, almost all of us have heard about the new accounting lease standards (ASC 842 / GASB 87 / IFRS 16), but are you ready for your year-end reporting? Join Freed Maxick for a one-hour workshop on leases, including a demonstration of our recommended software solution, LeaseCrunch.

Hosted by Chirico Rozsa and Joe Smidt from Freed Maxick’s Lease Committee and joined by Jess Vento, Senior Director of Accounting and Client Success at LeaseCrunch, the workshop on November 9th from 11:00 am – 12:00 pm EST will focus on questions like:

• What is a lease under the new guidance?
• What types of disclosures are required in my year-end reporting?
• What effect will this have on my debt compliance?
• Can I just use Excel to calculate my lease portfolio?

What are the Lease Standards about?

Under legacy accounting standards, leases previously classified as “operating leases” were considered off-balance-sheet and recognized as period expenses on an organization’s income statement. The lease accounting standards require all leases with terms greater than 12 months to be recorded as assets and liabilities on the balance sheet. The purpose of these standards was to foster more transparency between investors and companies. 

CLICK HERE to register for the CPE eligible virtual lease training.