Webinar Replay: Impacts of the Lease Accounting Changes
What is the impact of the new standards?
The Financial Accounting Standards Board (FASB) has issued an Accounting Standards Update (ASU) on lease accounting. This ASU affects all companies that lease assets and can significantly change the way companies account for leasing arrangements. The new guidance is intended to increase transparency in lease accounting by requiring organizations to report most long-term lease liabilities on the balance sheet. In this webinar, learn about the financial reporting changes, impacts on covenants, and the timing and implementation of the new updates. In addition, hear how manufacturers are using leasing to fund growth.
What You Will Learn:
- What the new standard is and why it was issued
- Changes to financial reporting and the impact on financial statements
- Timing of implementation, effective dates, and transition considerations
- Other considerations with bank covenants, systems, and processes
- The importance of leasing and how organizations are using leasing to fund growth
Kelly Thompson, CPA
The Bonadio Group
David Neighbour, CLFP
Senior Vice President
First American Manufacturing Finance