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Required Disclosures & Asset Impairments under New Lease Accounting Standards 

REQUIRED DISCLOSURES & ASSET IMPAIRMENTS UNDER NEW LEASE ACCOUNTING STANDARDS 

Cost Free
Presentation Length 1.0 hour

Recorded DateNovember 16, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

In this session, our lease accounting experts will outline the quantitative and qualitative disclosures required under each of the new lease accounting standards from the FASB, IASB, and GASB.  Our explanations will include detailed descriptions of the disclosures and related calculations and highlight the differences and similarities with the legacy accounting standards.  The second part of the presentation will discuss the accounting for asset impairments under the new standards, emphasizing the impact of COVID-19 on year-end impairment analysis.

Learning Objectives: 


  • Identify the new requirements for disclosures under ASC 842, GASB 87, & IFRS 16

  • Recognize how scope affects your lease portfolio and disclosures

  • Define asset impairments and how to determine if the impairment is necessary

  • List how to account for impairments and the resulting adjusting entries

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Abdi Ali

LeaseQuery, LLC
Accounting Manager
abdi.ali@leasequery.com
(800) 880-7270

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Abdi Ali is a Technical Accounting Manager at LeaseQuery. Prior to joining LeaseQuery, he began his career as an audit intern at Grant Thornton LLP and soon after joined full time as an audit associate. While at Grant Thornton, he assisted in the audits of various privately-held entities. Ali also has experience as a Corporate Accountant from positions he held after his time at Grant Thornton. Abdi earned a bachelor’s degree in Accounting followed by a master’s degree in Professional Accountancy from Georgia State University’s Robinson College of Business.

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Kiley Arnold is an Accounting Manager at LeaseQuery and a CPA, certified in the state of Georgia.  She started her career as an auditor at Arthur Andersen.  She moved into a Senior Accountant role and later served as an Assistant Controller in companies across multiple industries, including healthcare, transportation, media, and manufacturing. In her most recent role, Kiley led the IFRS 16 implementation team for a global manufacturing company. 

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Wesley Williams is an Accounting Manager at LeaseQuery. Wesley has external audit experience working for KPMG in their audit practice, where he served clients across many different industries both public and private. Wesley graduated from Kennesaw State University with both a Bachelor's and Master's degree in Accounting.

About Our Presenter

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LeaseQuery helps more than 10,000 accountants and other finance professionals eliminate lease accounting errors through its CPA-approved lease accounting software. It is the first lease accounting software built by accountants for accountants. By providing specialized consulting services in addition to its software solution, LeaseQuery facilitates compliance with the most comprehensive regulatory reform in 40 years for companies across all sectors. For more information about LeaseQuery, visit LeaseQuery.com.