Join LeaseQuery accounting expert Jaron Moss for an exclusive session tailored for the manufacturing industry. In this specialized presentation, Jaron will delve into the intricacies of lease modifications under ASC 842, with a focus on the unique considerations relevant to manufacturing organizations.
We will review the similarities and differences for lease reassessments, re-measurements, and modifications and then explore the accounting treatment for each. This presentation will include a comprehensive example of a lease modification within the accounting framework of ASC 842.
Our example will begin with identifying the indicators of a lease modification in a realistic example and then walk through the adjusting journal entries required.
Key learning objectives:
- Identify the triggers for lease modifications organizations may experience during post-transition accounting
- Compare and contrast the accounting treatment of reassessments, a re-measurement, and a modification
- Summarize the steps, calculations and journal entries required to appropriately record a lease modification
Who should attend:
Accounting and finance professionals whose companies manage a medium-to-high volume of leases will benefit most from this event, along with CPAs who serve clients with a similar volume of leases.
