Mastering Lease Accounting Under GAAP (ASC 842)

Marketing and Empathy Psychology

By - Chuck Borek

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Mastering Lease Accounting Under ASC 842: A Practical Guide to Compliance and Application

The introduction of Accounting Standards Update (ASU) 2016-02, codified as ASC 842 by the Financial Accounting Standards Board, fundamentally reshaped lease accounting. By requiring organizations to recognize right-of-use (ROU) assets and lease liabilities on the balance sheet, this standard has significantly increased transparency—but also complexity—in financial reporting.

With ASC 842 now fully implemented, organizations must move beyond basic awareness and focus on accurate application, ongoing compliance, and the broader financial impact of lease decisions. From balance sheet implications to loan covenant considerations, the stakes are high for accounting and finance professionals.

This webinar delivers a clear, practical roadmap to navigating lease accounting under ASC 842. Through real-world examples and step-by-step guidance, you will learn how to properly identify, classify, measure, and report leases in accordance with current GAAP requirements. Whether you are new to lease accounting or looking to strengthen your understanding, this session will provide the tools and confidence needed to apply the standard effectively.

Key Learning Outcomes:

Understand the concept and financial impact of Right-of-Use (ROU) assets and lease liabilities
Identify which contracts and arrangements fall within the scope of ASC 842
Apply the four-step model to accurately calculate ROU assets
Determine lease term, including renewal options and reassessment considerations
Analyze lease payments and identify components included in measurement
Select and apply appropriate discount rates for lease calculations
Recognize additional costs and incentives included in the ROU asset
Evaluate the short-term lease (12-month) policy election and its practical application
Distinguish between operating and finance leases and understand their financial statement impact

Why You Should Attend:

This webinar goes beyond theory to provide practical, actionable insights you can apply immediately. You’ll gain the knowledge needed to improve accuracy in financial reporting, strengthen compliance with GAAP, and confidently manage lease accounting challenges within your organization.

Program Details:

Level: Basic
Format: Live Webcast
Instructional Method: Group Internet-Based
Field of Study: Accounting
Prerequisites: None
Advance Preparation: None

Vulputate eros arcu magnis donec sem pretium scelerisque a etiam. Eros aliquam elit si mattis phasellus at orci letius ligula posuere. Sodales maecenas facilisis diam egestas dictumst si fames mus fermentum conubia curabitur. Ornare nisi consectetur semper justo faucibus eget erat velit rhoncus morbi.

Webinar Type

Clear

Speaker Detail

Chuck Borek is a practicing attorney and founder of the Borek Group, LLC. Chuck is also a CPA, and his background includes five years as a partner in a public accounting firm. He received his law degree and MBA summa cum laude from the University of Baltimore in 1993, where he was editor-in-chief of the Law Review. He has been teaching professionally since 1989, including four years as an Associate Professor of Accounting and two years as a Visiting Assistant Professor of Law.? He has lectured throughout the U.S. and has conducted both live and Web-based seminars. Chuck's publications include: Legal Issues for Accountants and Auditors (BNA 2015); Borek's Maryland Business Planning Manual (MICPEL 2008); Hospital Accounting (BNA 2018), Contract Drafting and Review for the Maryland Lawyer (MSBA 2015); as well as numerous law review articles.