Operating leases are no longer a footnote: the new lease standard is coming – and fast. The long-discussed (and postponed) accounting standard on leases goes into effect for most non-public entities on January 1, 2022.
In this 100-minute session, Tom and Matt cover:
- The new – and complex – accounting rules for leases, including the new definition for what constitutes a lease
- The financial statement implications of the new standard, and how this may impact statement users
- Considerations on how to implement the new standard and the controls necessary to accurately report leases
- An update on the status of the LIBOR benchmark rate and how to prepare for its retirement
Bonus cybersecurity update
Plus, Barnes Dennig cybersecurity expert Robert Ramsay provides an update on the rising risk of ransomware and playing cyber defense, the new CMMC regulations and their impact, new tools and rules for the Work-from-Home 2.0 world, and Automated Clearing House (ACH) destination change controls.