How to Write a Policy Memo for Your ASC 842 Transition
March 28, 2023
Join Us for How To Write a Policy Memo for Your ASC 842 Transition
Cherry Bekaert and LeaseQuery: How to Write a Policy Memo for Your ASC 842 Transition Webinar
Date: Tuesday, March 28, 2023 at 1:00 – 2:00 PM EST
Join Cherry Bekaert and LeaseQuery as they review the policies and procedures organizations should consider prior to and during the adoption of the new lease accounting standard, ASC 842. Our presenter will also discuss the importance of providing your auditors with clear documentation of your transition to ASC 842 and what information may be included.
We will then explore the procedures and policies to discuss prior to adoption, such as the available transition methods and practical expedients to utilize. Other considerations are the policies with impacts to your lease portfolio. Lastly, we will cover specific financial statement risks arising from lease accounting and what steps may be taken to reduce these potential errors or misstatements.
Learning Objectives
- Explain the importance of providing a memo to your auditors documenting the policies and procedures applied prior to and during the transition to ASC 842
- Describe the various transition methods and practical expedients available for your ASC 842 implementation
- Explore the policies to examine during adoption and their potential impact to your lease portfolio
- Understand the financial statement risks associated with lease accounting and the procedures to apply to mitigate those risks
CPE Accreditation
Certification | LeaseQuery
CPE Category | Accounting
Prerequisites | Understanding of lease accounting and the audit process
Hours of CPE | 1
Program Level | Basic
Advanced Preparation | None
Speakers
Rachel Reed | Accounting Manager, LeaseQuery
David Johnson | Senior Manager, Cherry Bekaert
Sponsor Statement
Cherry Bekaert Continuing Professional Education: Statement of Admin Policies
This event is complimentary. Due to this program being offered free of charge, there will be no refunds.
CPE for Virtual Events
- Please join sessions on time, or 5 minutes early if possible. Joining a session late may cause you to lose the ability to obtain CPE based on the following NASBA regulations:
- There will be 4 polling questions per hour of each session.
- In order to receive CPE credit for virtual events, you must attend at a minimum, 50 minutes of every hour and respond to at least 3 of the 4 polling questions per hour.
- Polling questions will not be announced in advance.
- If you view the conference in a group setting, you will still need to log into CPE sessions through your laptop to track your attendance and respond to polling questions.
- We cannot guarantee polling questions will appear on your mobile device and recommend that you use your laptop for your webinar session. We will not be able to award you CPE credit if you do no answer the required number of polling questions and/or are not in session for the required length of time. This includes issues due to mobile technological difficulties or any other difficulty that is unique to your webinar connection.
- Please be sure that you join the session for which you registered using the link that was provided to you. We will not be able to award you CPE if you join a session using a link that was provided to someone else.
- You will receive one certificate for each course you attend/pass.
For questions regarding registration or event cancellation, please contact Maddie Robbins. For all other questions regarding CPE policies, please contact Cherry Bekaert at cbhlearning@cbh.com.
Cherry Bekaert is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website. | www.learningmarket.org