Lease Accounting Essentials

Nov 19
12:30 - 4:00 p.m.

Penn State Great Valley - Main Bldg
Malvern - Map

4-A&A
CPE Credits

Gain an understanding of how the transition from operating leases to capitalization will affect companies of all sizes. Study the fundamental principles of the right-to-use model for capitalizing leases under ASC 842. Distinguish which lease contracts are scoped into and out of the standard.
Highlights

What was wrong with lease accounting?
The asset-liability approach to leases and its effect on the balance sheet
What have we learned from public company adoption?
Implementing the right-to-use approach for lessees and lessors
Reassessment, renewal, termination, and other lease-specific issues
Practical strategies to reduce the burden of implementation
Transition and presentation

Registration

PICPA Member: $139
Nonmember: $189

More Information

Course No. 782402 Level: Update

Prerequisites: None

Notes
This is a four-credit seminar.

Masks Required
Penn State requires all individuals, regardless of their vaccination status, to wear face masks while inside all campus buildings. Read more about Penn State's event policies.

Speaker(s)

Ray Thompson

Assoc Professor Accounting & Finance

Dr. Ray Thompson, CMA, CFM, CBA

Dr. Ray Thompson is Emeritus Associate Professor of Accounting & Finance at the University of Pittsburgh. He served as department head at the UPJ campus for over 25 years. He was also Associate Director of UPJ’s Entrepreneurial Development Assistance Project, where he was involved in financial consulting and assisting in preparing loan proposals for small business start-ups.

He has taught in graduate and undergraduate business programs in Europe, Africa and the US. He received his B.S. and M.S. degrees in Economics and Systems Dynamics from the University of Bradford in the United Kingdom, his M.B.A. in Accounting from Xavier University of Ohio, and his Doctor of Business Administration from Nova University. Ray is also certified in Financial Management and is a Certified Management Accountant and Certified Business Appraiser. He recently became certified in International Financial Reporting Standards though the Institute of Chartered Accountants in England and Wales.

Ray is a professional educator and writer. He authors and conducts professional development seminars for Fortune 500 and international corporations, multinational financial institutions, State CPA Societies, and CPA firms throughout the US. In addition to these live seminars, he also produces both recorded and written courses for self study. He also provides business valuation services and consults with accounting firms and sole practitioners on a range of accounting issues in the area of valuation. Ray was part of the George & Ray team which offered Accounting & Auditing courses for over 20 years.

Ray is a member of the Institute of Management Accountants and the Institute of Business Appraisers. He is also a faculty associate member of AICPA and PICPA, and is a member of the Financial Reporting Faculty of ICAEW. He lives in Bedford County, PA, and can be reached at (814) 839-0143 by phone or at drrayt@verizon.net.