August 30, 2017


Alabama Society of CPAs
1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

4 Total CPE Credits


Implementing FASB's New Lease Standard - Examples and Practical Approaches

  • Instructor

    Ray Thompson

Learning Objectives

  • Participants will:
  • Understand the fundamental principles of the contract- based approach to revenue set out in ASU 2014-09
  • Study how basic guidance is interpreted in more complex transactions using extensive implementation examples.
  • Become aware of the multiple deliverables and percent of completion issues and their effect on revenue realization.
  • Understand how the transition from operating leases to capitalization will affect companies of all sizes
  • Learn how the balance sheet treatment of leases will alter financial statement numbers, ratios, and loan covenants
  • Become familiar with the right of use model for capitalizing leases

Major Topics

  • Why do we need the Big Three projects?
  • The asset-based approach to revenue recognition
  • The five step model for revenue recognition
  • Continuous delivery and percent of completion
  • The asset-liability approach to leases and its effect on the balance sheet and loan covenants
  • Implementing the right of use model for lessees and lessors
  • Implementation and transition considerations
  • Financial instruments and commercial entities - how much change should be expect?
  • Recognition, Measurement and Impairment

CPE Credits Available

Total CPE
Accounting & Auditing

Alabama Society of CPAs

1041 Longfield Ct, Montgomery, Montgomery County, Alabama 36117-8056

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Things to Know About This Course

Course Level

  • Update


Prior learning or experience in revenue accounting

Advanced Preparation


Intended Audience

Preparers and accountants in public practice who need to understand how these standards are likely to alter their financial reporting.obligations


Business Learning Institute

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