What criteria are used to determine if a transaction is a sale and leaseback under FASB ASC 842, Leases? This webcast answers that question and also addresses the primary considerations with respect to a lessee’s involvement in construction of a leased asset as well as the changes to guidance for leveraged leases under FASB ASC 842.
Criteria used to determine if a transaction is a sale and leaseback. Considerations with respect to a lessee’s involvement in the construction of a leased asset. Practical applications of leveraged leases.
Experience in the application of accounting standards.
Accountants in practice and industry.
Identify the criteria used to conclude whether or not a transaction is a sale and leaseback. Differentiate between the accounting recognition of sale and leaseback transactions when a sale has or has not occurred. Identify the primary considerations with respect to a lessee’s involvement in construction of a leased asset. Recognize the changes to leveraged leases in FASB ASC 842.
Mr. Krause has CPA Certifications and he practices in: Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin as Manager & CEO of his firm, which he founded in 2005. Previously he enjoyed 23 years of diversified responsibilities with Ernst & Young. Industries he served included manufacturing, construction, real estate and financial services. Daryl was the Ohio Valley Area Director of Employee Benefit Plan Services specialty audit practice for 8 years responsible for the technical accuracy and quality of over 300,000 hours of employee benefit plan audit effort. Roles included sign-off partner for approximately one third of the entire area’s engagements, independent reviewer on approximately 100 additional plans per year and technical advisor for all work. As Senior Manager in the Entrepreneurial Services group for 3 years he managed a portfolio of corporate audit client relationships. Roles included providing SEC reporting assistance to new public companies, assisting in due diligence on potential acquisitions and helping companies improve their controls and financial reporting processes.
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