About the Course
Introduction
This course will analyze the Financial Accounting Standards Board's (FASB) lease accounting standards in ASC 842 and the challenges accountants face in implementing these guidelines. Our panel of accounting and auditing experts will assist accountants and auditors in defining what constitutes a lease, classifying leases, and determining proper financial statement reporting, as well as offer advice to facilitate compliance with this standard.
Description
Complying with ASC 842 remains problematic for businesses and their auditors. Standard procedures that companies have in place are often insufficient to ensure compliance. The technology needed to analyze leases across multiple levels of the business is often unavailable, leading to manual reviews of lease agreements.
According to ASC 842, "a contract is, or contains a lease if the contract conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time, in exchange for consideration." Under the ASC, operating leases or right-of-use (ROU) assets are included on the balance sheet.
Accountants must examine existing leases, lease accounting methods, lease modifications, abandonments, and subleases. Further challenges include determining what constitutes a lease under ASC 842, which requires separating a lease from its non-lease components, and the overlap between ASC 842 and other accounting standards, including ASC 360, Impairment or Disposal of Long-Term Assets. Additionally, although there are many similarities between ASC 842 and the International Accounting Standards Board's IFRS 16, there are significant inconsistencies between the two sets of guidelines.
Listen as our panel of accounting and auditing experts analyzes the requirements of the current FASB standard, ASC 842 for Lease Accounting, including tips for implementing and overcoming the challenges of its provisions.
Presented By
Mr. Coker is a seasoned Principal in the Accounting & Reporting Advisory Services group, specializing in technical accounting and financial reporting advisory. With over 14 years of experience, he is adept at navigating complex U.S. GAAP accounting requirements and best practices, as well as technical SEC financial statement and disclosures under Regulation S-X. Mr. Coker has extensive experience in assisting companies with complex accounting issues and is proficient in IPO readiness and SEC reporting, including periodic filings, registration statements, and public offerings. He is skilled in the implementation of new accounting standards (i.e. ASC 606, ASC 842, ASC 326), accounting for troubled debt restructurings and modifications, accounting for business combinations, pushdown accounting, and complex debt and equity financing arrangements.
Mr. Eardley's experience is focused on providing financial accounting advisory services, including advice on IPOs, International Financial Reporting Standards (IFRS), debt and equity financing, revenue recognition, mergers and acquisitions, consolidations, inventory costing, and SEC financial reporting. He assists clients in implementing new accounting standards, analyzing accounting and financial reporting requirements of complex transactions, and advising on the proper application of accounting guidance to client transactions.
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BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
Date + Time
- event
Thursday, June 18, 2026
- schedule
1:00 PM ET/10:00 AM PT
I. What is a lease under ASC 842?
II. Identifying lease and non-lease components
III. Determining lease classification
IV. Lease measurement
V. Lease modifications and abandonments
VI. Financial statements and disclosures
VII. Recommendations to facilitate compliance with ASC 842
VIII. Other relevant guidance
XI. IFRS 16 differences
X. Best practices
The panel will review these and other critical issues:
- Separating lease and non-lease components in contracts
- Accounting for lease modifications and abandonments
- Required disclosures for lessees and lessors under ASC 842
- Differences in international and U.S. lease reporting standards under IFRS 16 and ASC 842
- Reporting requirements for operating leases or ROU assets
- Recommendations for compliance with ASC 842
Learning Objectives
After completing this course, you will be able to:
- Identify lease and non-lease components in contracts
- Recognize required disclosures for lessors under ASC 842
- Differentiate U.S. lease reporting standards under ASC 842 and IFRS 16
- Determine lease classifications
- Ascertain best practices for compliance with ASC 842
- Field of Study: Accounting
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite:
Three years+ business or public firm experience, preparing reviewed, compiled, and audited financial statements and the relative disclosures. Specific knowledge and understanding of GAAP, SSARS, and peer review policies.
BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
Related Courses
IFRS vs. GAAP: Comparing and Contrasting Financial Statement Requirements
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1:00 p.m. ET./10:00 a.m. PT
ASC 842 Lease Accounting Standards
Thursday, June 18, 2026
1:00 PM ET/10:00 AM PT
ASC 842 Lease Accounting Standards
Available On-Demand
