In addition to causing enormous disruption to health, safety, and the economy globally, the COVID-19 outbreak has significantly impacted accounting and reporting processes for many corporate occupiers.
The current environment forces lessees to address complex financial reporting challenges, including impairment, abandonment, and lease concessions and closely assess them against the new lease accounting standards.
Our technical lease accounting experts, Larry Lazerwitz, CPA, and Tony Famularo, CPA, will discuss the potential impact of the pandemic on lease accounting and provide guidance on how lease accounting software can handle the various changes to maintain compliance.
In this on-demand webinar, you’ll get an overview of:
- The right-of-use (ROU) asset impairment
- Pre-transition liabilities that you may need to record against your operating leases
- Reassessment of Lease Options and Residual Value Guarantees
- How to account for rent concessions under the new lease accounting standards ASC 842