Details
July 19, 2017
11:00AM - 12:00PM
Changes in Lease Accounting
New Lease Standard and the Impact on Automobile Dealers
OADA Webinar
Register Here!
The Financial Accounting Standards Board (FASB) has recently issued its new lease accounting standard, FASB Accounting Standard Update 2016-02 – Leases. The new standard introduces a right-of-use model which brings most leases onto a lessee’s balance sheet. This could significantly change the accounting for leases involving real estate, equipment and fleet, whose leases aren’t typically included on the balance sheet.
Please join OADA as we welcome Trevor Warren from Schneider Downs & Co., Inc., to present a webinar on this topic to OADA members. Trevor will discuss the significant impact this standard will have on automobile dealers, including:
- Financial statement impact
- Changes to operating Lease Accounting
- New disclosure requirements
- Implementation consideration
- Transition guidance
Given the significant changes the new standard has on lessee accounting, automobile dealers who currently have a significant amount of operating leases should consider the impact that the new standard will have on their financial statements. Dealers still have time to consider the impact that this standard will have on their financial statements, but should begin assessing what that impact may be and start discussing the impact with their financial statement users.
There is a $20 connection fee for OADA members, and a $50 connection for non-member dealers. Join OADA and Schneider Downs, and register today!