Course Description

Is your company struggling with ASC 842 compliance? Are you dreading the next audit after a painful experience with lease accounting? Join us for an insightful webinar focusing on how to streamline your lease processes and prepare for a successful audit. We'll use a real-world example of ACME Company, which faced significant audit challenges with ASC 842, to illustrate common pitfalls and effective solutions. Learn how to anticipate auditor expectations, strengthen internal controls, and leverage technology to simplify lease management. We'll cover key areas like assertion assessment, risk management, testing procedures, and disclosure requirements, providing actionable strategies to ensure a smoother, more efficient audit process. Discover how to transform your lease accounting from a source of stress to a pillar of financial accuracy.

Learning Objectives

• Understand auditor expectations and improve internal controls for efficient lease management and compliance.
• Learn to apply assertions, manage risk assessments, and prepare for auditor testing related to lease accounting.
• Learn practical tips and strategies to ensure your lease accounting is audit-ready and compliant.
• Identify how to properly prepare lease liability calculations, footnote disclosures, and maturity schedules.
• Recognize and utilize the benefits of lease accounting software to streamline audit preparation and compliance.

Prerequisites

• None

Who Should Attend

Accounting and finance professionals and consultants are involved in managing audits under ASC 842 for their organizations or those of their clients.