Preparing for the new lease accounting standard can seem like a daunting task. In this webinar, we reviewed how you can handle and prepare to navigate your business through the new lease accounting standard in 2022.
McKonly & Asbury’s April webinar entitled, “Leasing: A New Standard is Finally Here” is hosted by Dan Sturm, Partner; Brett Bauer, Senior Manager; and Tim Showers, Supervisor. During this webinar, attendees will learn how ASC 842 differs from ASC 840; will see illustrative financial statements which highlight exactly what changes as a result of the new standard; and will gain an understanding of what they should be doing now to prepare.
Citrin Cooperman Partner Aaron Chaitovsky, in conjunction with law firm Gray Plant Mooty, present on the requirements and issues involved in California Law AB 525 and what franchisors must do now to avoid costly mistakes.
IFRS 16 Leasing with SAP Real Estate ManagementTobias Decker
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) recently announced the release of new accounting standards that define how organizations must account for leases. Essentially, these accounting standards stipulate most leases must be reported on each company’s balance sheet, increasing the risk of regulatory noncompliance and inaccurate statutory reporting.
SAP Real Estate Management is used to optimize the portfolio of global assets and supports the regulatory compliance of these new accounting rules. This solution provides a single point of entry for collection, validation of lease contract data, performs valuation calculations and generates the financial postings derived from these calculations.
McKonly & Asbury’s April webinar entitled, “Leasing: A New Standard is Finally Here” is hosted by Dan Sturm, Partner; Brett Bauer, Senior Manager; and Tim Showers, Supervisor. During this webinar, attendees will learn how ASC 842 differs from ASC 840; will see illustrative financial statements which highlight exactly what changes as a result of the new standard; and will gain an understanding of what they should be doing now to prepare.
Citrin Cooperman Partner Aaron Chaitovsky, in conjunction with law firm Gray Plant Mooty, present on the requirements and issues involved in California Law AB 525 and what franchisors must do now to avoid costly mistakes.
IFRS 16 Leasing with SAP Real Estate ManagementTobias Decker
The Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) recently announced the release of new accounting standards that define how organizations must account for leases. Essentially, these accounting standards stipulate most leases must be reported on each company’s balance sheet, increasing the risk of regulatory noncompliance and inaccurate statutory reporting.
SAP Real Estate Management is used to optimize the portfolio of global assets and supports the regulatory compliance of these new accounting rules. This solution provides a single point of entry for collection, validation of lease contract data, performs valuation calculations and generates the financial postings derived from these calculations.
CIMA CBLC Presentation - Nov 4, 2017 Fouad AbidFouad Abid
Runner-up Presentation made at CIMA Corporate Business Leaders' Challenge 2017 on Evaluating Sale & Lease Back to generate funds for dividend and suggesting other options
Assurance and advisory firm Nkonki will be hosting a roundtable session exclusively for CFOs with Darrel Scott, Board Member of the IFRS Foundation. Scott, who is in Johannesburg for the occasion, will provide global and industry insights on the newly-released IFRS 16, issued on 13 January 2016, to CFOs from many of South Africa’s leading companies.
“The session is designed to share insights and deliberate on how this new accounting standard will impact processes and financial reporting, and how industries across the globe will deal with this change,” says Sindi Zilwa, CEO of Nkonki. It will also provide an update on accounting developments in the medium term.
The International Accounting Standards Board (IASB) issued IFRS 16 Leases in January 2016. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, namely, the customer (‘lessee’) and the supplier (‘lessor’). IFRS 16 is effective from 1 January 2019. IFRS 16 completes the IASB’s project to improve the financial reporting of leases. IFRS 16 replaces the previous leases Standard, IAS 17 Leases, and related Interpretations.
This presentation provides an update on both recently issued and forthcoming pronouncements of the Financial Accounting Standards Board (FASB). Through this presentation, you should be able to identify what changes are effective for your 2015 financial statements, including changes you may choose to early adopt.
CA Varun Sethi - ICAI IFRS training - IAS 17 & IAS 23 - Oct 2015Varun Sethi
Presentation by CA Varun Sethi at ICAI certificate course on IFRS/ IndAS - 2015
Covered
IAS 17/ IndAS 17 / IFRIC 4 - Leases and Embedded Leases
IAS 23/ IndAS 23 - Borrowing costs
Contains
1. Comparison with ICDS, AS, IAS
2. Updates from IASB - New standard on leases
3. Industry/ sector relevant practical questions, problems and solutions including first time adoption issues etc
Contains the India/ US/ IFRS financial reporting framework for various sectors/ entities for Lease transactions and borrowing costs.
The Tax Cuts and Jobs Act is a reality. Find out what that means to you in this informative presentation. Presented by Brian Kempf, Christopher Axene, Cindy Kula and Inez Bowie, this presentation focuses on the various business related provisions, individual provisions, international concerns and implications to estates and trusts.
Listen to the explaination behind the slides. Watch the full recording of this free webinar here --> https://register.gotowebinar.com/register/7354592984523668995
Lease Accounting: Preparing Your Business for 2022Citrin Cooperman
Making a smooth transition to the new lease accounting standards and putting new practices in place for the future is a top priority for any business as they plan for 2022. During this webinar session, we reviewed how you can handle and prepare to navigate your business through the new lease accounting standards.
Topics included:
- What private companies should think about for 2022
- How the lease accounting standards can impact your financial
statements, financial covenants, and taxes
- Identifying opportunities for your business due to the new lease
accounting standards
LIVE EVENT - 3rd Annual Fall Construction Risk Update - September 30Rea & Associates
If the last two years have taught us anything, it’s that you can never be too prepared. Rea & Associates is proud to present the 3rd Annual Fall Construction Risk Update event, jam packed with expert commentary and exclusive content for business owners in the construction industry. This year, we’re here to guide you through the changes 2021 brought to taxes, finances, liability, and more and give you a glimpse into future considerations for construction industry leaders.
CIMA CBLC Presentation - Nov 4, 2017 Fouad AbidFouad Abid
Runner-up Presentation made at CIMA Corporate Business Leaders' Challenge 2017 on Evaluating Sale & Lease Back to generate funds for dividend and suggesting other options
Assurance and advisory firm Nkonki will be hosting a roundtable session exclusively for CFOs with Darrel Scott, Board Member of the IFRS Foundation. Scott, who is in Johannesburg for the occasion, will provide global and industry insights on the newly-released IFRS 16, issued on 13 January 2016, to CFOs from many of South Africa’s leading companies.
“The session is designed to share insights and deliberate on how this new accounting standard will impact processes and financial reporting, and how industries across the globe will deal with this change,” says Sindi Zilwa, CEO of Nkonki. It will also provide an update on accounting developments in the medium term.
The International Accounting Standards Board (IASB) issued IFRS 16 Leases in January 2016. IFRS 16 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both parties to a contract, namely, the customer (‘lessee’) and the supplier (‘lessor’). IFRS 16 is effective from 1 January 2019. IFRS 16 completes the IASB’s project to improve the financial reporting of leases. IFRS 16 replaces the previous leases Standard, IAS 17 Leases, and related Interpretations.
This presentation provides an update on both recently issued and forthcoming pronouncements of the Financial Accounting Standards Board (FASB). Through this presentation, you should be able to identify what changes are effective for your 2015 financial statements, including changes you may choose to early adopt.
CA Varun Sethi - ICAI IFRS training - IAS 17 & IAS 23 - Oct 2015Varun Sethi
Presentation by CA Varun Sethi at ICAI certificate course on IFRS/ IndAS - 2015
Covered
IAS 17/ IndAS 17 / IFRIC 4 - Leases and Embedded Leases
IAS 23/ IndAS 23 - Borrowing costs
Contains
1. Comparison with ICDS, AS, IAS
2. Updates from IASB - New standard on leases
3. Industry/ sector relevant practical questions, problems and solutions including first time adoption issues etc
Contains the India/ US/ IFRS financial reporting framework for various sectors/ entities for Lease transactions and borrowing costs.
The Tax Cuts and Jobs Act is a reality. Find out what that means to you in this informative presentation. Presented by Brian Kempf, Christopher Axene, Cindy Kula and Inez Bowie, this presentation focuses on the various business related provisions, individual provisions, international concerns and implications to estates and trusts.
Listen to the explaination behind the slides. Watch the full recording of this free webinar here --> https://register.gotowebinar.com/register/7354592984523668995
Lease Accounting: Preparing Your Business for 2022Citrin Cooperman
Making a smooth transition to the new lease accounting standards and putting new practices in place for the future is a top priority for any business as they plan for 2022. During this webinar session, we reviewed how you can handle and prepare to navigate your business through the new lease accounting standards.
Topics included:
- What private companies should think about for 2022
- How the lease accounting standards can impact your financial
statements, financial covenants, and taxes
- Identifying opportunities for your business due to the new lease
accounting standards
LIVE EVENT - 3rd Annual Fall Construction Risk Update - September 30Rea & Associates
If the last two years have taught us anything, it’s that you can never be too prepared. Rea & Associates is proud to present the 3rd Annual Fall Construction Risk Update event, jam packed with expert commentary and exclusive content for business owners in the construction industry. This year, we’re here to guide you through the changes 2021 brought to taxes, finances, liability, and more and give you a glimpse into future considerations for construction industry leaders.
January 2011 A&A update from Frazier & Deeter, LLCbgodshall
We recently delivered this slide deck to clients and associates of Frazier & Deeter concerning recent developments with proposed convergence accounting standards. These standards are linked to IFRS, but will be effective for all US GAAP entities, regardless of status of IFRS in the US.
Finvision impact series 1 - ed leases - lessee accountingFinvision
IFRS accounting - Exposure draft on lease accounting has been released recently. The presentation gives an brief overview on the basic principles and how it may impact your organization
Lease accounting received an accounting overhaul with the recent release of the Financial Accounting Standards Board (FASB)'s Accounting Standards Update 2016-02 Leases (Topic 842). The new standard most significantly changes lessee accounting compared to existing US GAAP, but also has some targeted changes for lessor accounting. Overall, ASU 2016-02 seeks to improve transparency to the economics of lease transactions and bring lease accounting into line with other recently released accounting standards updates, such as the changes to Revenue from Contracts with Customers (Topic 606).
The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a The information being shared in this session is not a legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the legal consultation. Any opinion expressed by the presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be presenter is that individual’s view and may not be referred to the ICAPreferred to the ICAPreferred to the ICAPreferred to the ICAP referred to the ICAP referred to the ICAPreferred to the ICAP referred to the ICAP
For years, lease accounting has been criticized as a means of structuring off-balance sheet financing, particularly as it related to the airline industry. In response to this feedback, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) initiated a joint project to overhaul accounting for leases in 2008, which was one of the cornerstone projects of a path towards convergence.
The FASB issued an exposure draft in 2010, but it received such heavy criticism from multiple parties that it didn't issue the final standard until early 2016. Accounting Standards Update 2016-02, Leases (ASC Topic 842) may be cumbersome to implement as it affects all leases (i.e. property, equipment, copiers) with only a few, minor scope exceptions. It also removes any differences between leases of equipment and real estate that exist in today's U.S. generally accepted accounting principles (GAAP).
Topic: Income Tax and Leases
Type: CourseWork
Subject: Accounting and Finance
Academic Level: Undergraduate
Style: MLA
Language: English (U.S)
Number of Pages: 3 (double-spaced, Times New Roman, Font 12)
Number of sources: 1
Task Details :
There are three general views regarding inter period income tax allocation: no allocation, partial allocation, and comprehensive allocation. Required: a. Defend the position of no allocation of income taxes. b. Defend the position of partial allocation of income taxes. c. Defend the position of comprehensive allocation of income taxes. Capital leases and operating leases are the two classifications of leases described in FASB pronouncements from the standpoint of the lessee.
Required:
a. Describe how a capital lease would be accounted for by the lessee both at the inception of the lease and during the first year of the lease, assuming the lease transfers ownership of the property to the lessee by the end of the lease.
b. Describe how an operating lease would be accounted for by the lessee both at the inception of the lease and during the first year of the lease, assuming the lessee makes equal monthly payments at the beginning of each month of the lease.
c. Describe Direct Financing and Capital Contracts
The past year has been an active one for accounting standards updates (ASUs). Fortunately for those preparing for year end, the fourth quarter only had one ASU issued and the majority of the 17 updates issued by the Financial Accounting Standards Board (FASB) during 2015 are narrow in scope or simplifications of existing standards.
The New Year promises broader changes from the FASB, however. Major projects, including the Leasing Standard have been approved and are pending publication in early 2016.
Lease Accounting - The New Exposure DraftDecosimoCPAs
Decosimo Assurance Principal Robert Belcher presented "Leases - The New Exposure Draft" at the 2013 Decosimo Accounting Forum hosted by the University of North Alabama on July 19.
New Lease Accounting Standards - FASB 842 and IFRS 16leaseaccelerator
Provides an overview of the new lease accounting standards released by FASB and IASB. Describes differences between new standards (FASB 842 and IASB 16) as compared to prior standards (FASB 840 and IASB 17). Explains implementation timeframes and transition reporting requirements. Focuses on equipment lease accounting versus real estate accounting.
[Podcast] Time to prepare... for lease accounting changesJLL
The lease accounting changes will have a significant impact on your business - from finance to operations to technology! Don’t wait to begin the planning process. Learn from a panel of real estate and accounting experts in a discussion on the key aspects of the revised accounting requirements and their impact on your bottom line.
C-Suite Snacks Webinar Series: Modern Decision SupportCitrin Cooperman
The role of finance continues to evolve in response to the ever-changing business environment. In order to keep your business agile, it is important to make sure that you're fully benefiting from a best-in-class FP&A function.
During this C-Suite Snacks webinar, Dominic DiBernardo, Partner and Corporate Performance Management Practice Leader, discusses what modern decision support looks like and the ingredients for a great financial planning and analysis (FP&A) function.
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
C-Suite Snacks Webinar Series: Building an Advisory BoardCitrin Cooperman
Many private businesses evolve to the point where adding an advisory board can be a significant resource for the owners and senior leadership team, as they accelerate growth and profitability in their companies.
During this C-Suite Snacks webinar, Mark Dailey, a partner at Newport, LLC and seasoned advisory board expert, discusses when you should evaluate building a board, the leading practices and board structures you should consider, and the responsibilities that come with running your board.
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
C-Suite Snacks Webinar Series: Prepping Your Company's Financials for SaleCitrin Cooperman
The business acquisitions market is booming and it’s a seller’s market out there! What can you do NOW to make sure that your business is ready?
Join us at our upcoming C-Suite Snacks webinar as Peter Colgan, Transaction Advisory Services Practice manager, discusses what business leaders find most challenging about preparing their financials for sale and how to efficiently conquer those challenges through the lens of a sell-side financial due diligence.
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
High Net Worth Webinar Series - Tax Planning and Update for 2022Citrin Cooperman
As 2021 comes to an end, business owners and individuals are seeking opportunities to maximize their savings through year-end tax planning. This webinar session will help you navigate the many complexities, obstacles, and impending tax landscape changes that the 2021 tax year brings to the table and what 2022 has in store.
C-Suite Snacks Webinar Series: The Talent Wars - Can Benefits Be Your Secret ...Citrin Cooperman
In today’s candidate-driven job market, offering a competitive benefits package can significantly improve your company’s success in both attracting and retaining talent. In this webinar session, Shaun Gagnon, president and managing partner of Cambridge Insurance Advisors, shares his insights on maximizing your employee benefits to attract employees and combat the talent shortage.
Topics included:
• Trends in open enrollment and wellness fairs
• Popular and practical benefits
• The war on talent
• Cost increases and how to deal with them
“Citrin Cooperman” is the brand under which Citrin Cooperman & Company, LLP, a licensed independent CPA firm, and Citrin Cooperman Advisors LLC serve clients’ business needs. The two firms operate as separate legal entities in an alternative practice structure. Citrin Cooperman is an independent member of Moore North America, which is itself a regional member of Moore Global Network Limited (MGNL).
High Net Worth Webinar Series - The Business of Digital Assets & BlockchainCitrin Cooperman
The recent rise of Bitcoin and digital assets has created significant new opportunities and challenges for investors. This emerging asset class is transforming both the technology and finance industries. In this session, you will learn about Bitcoin, its progeny, the emerging use cases for digital assets, and how investors are getting involved.
High Net Worth Webinar Series - Estate Planning Strategies and UpdatesCitrin Cooperman
There’s much uncertainty in the world of estate planning for high net worth individuals and their families. With numerous legislative proposals that would drastically alter the current estate planning landscape, listen in as our Trust and Estate Services Practice team discusses: various proposals, including those in Congress and the Biden Administration’s Green Book, estate and gift planning strategies for the remainder of tax year 2021, and more.
Showtime for Shuttered Venue Operators Grant (SVOG) RecipientsCitrin Cooperman
We discuss the ever-changing guidance around the conditions attached to the distribution of these funds and the specific requirements your organization needs to execute.
C-Suite Snacks Webinar Series: A Year Like No Other - Manufacturing and Distr...Citrin Cooperman
Our second annual Manufacturing and Distribution Pulse Survey Report explores the impact of the pandemic on the industry, and how businesses have pivoted to survive, including managing new product offerings, technology implementation, and supply chain disruptions.
During this webinar session, we discussed how 200 leaders of M&D companies, ranging from $20 million to over $1 billion in revenue, responded to our survey.
Topics included:
• How COVID-19 has accelerated the 4th Industrial Revolution
• Product sourcing changes
• Business pivots and what made them successful
Manufacturing & Distribution Update: The Economic Impact on the IndustryCitrin Cooperman
This presentation focused on what the future is likely to bring to manufacturers and distributors as the nation attempts to claw its way back from the worst of the COVID-19 crisis.
High Net Worth Webinar Series: SALT Thoughts - Pass-Through Entity Taxes & Re...Citrin Cooperman
During this webinar, we discussed how to potentially mitigate the impact of the state and local tax (SALT) cap at the federal level. New York State has joined the list of states that have enacted an elective pass-through entity tax in an effort to do just that. We also dove into the possibility of changing residency to a low-tax or no-tax state. With state tax rates on the rise in some places and the realization that remote work is doable, many individuals are contemplating making a move. To succeed in making a change like this, one must be aware of the technical rules and be willing to significantly adjust one’s life. We talked through all these considerations.
The New Rage in SALT: State Pass-Through Entity TaxCitrin Cooperman
During this webinar, Partner Eugene Ruvere and Principal Jaime Reichardt take deeper dive into the new elective tax regime in New York, in addition to neighboring states like Connecticut, New Jersey, and Rhode Island, among others.
C-Suite Snacks Webinar Series: What's Your IP Worth? Discovering the Value of...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
Every day brings news of a new music catalog sale, strategic piece of intellectual property purchased by a large company or private equity firm, or major transaction of a patent-driven business.
During this C-Suite Snacks webinar session, we discussed which intangible assets and intellectual property are commanding the highest prices and what is behind the value of these assets. Key takeaways included:
- An overview of what drives IP value
- COVID-19 impacts on IP value
- Current IP value trends
C-Suite Snacks Webinar Series: Best-In-Class Finance and Accounting: Should Y...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
During this C-Suite Snacks webinar session, Jason Slivka, executive vice president of strategic initiatives, and Steve Ronan, principal and leader of our Business Process Outsourcing Practice, discussed how outsourcing your accounting function drives profitability and business value. They covered:
- Cleaning up historical books and records
- Combining in-house staff and outsourced capabilities
to get best-in-class expertise across your accounting
function
- How better forecasting and financial analysis drives
better management decisions
- Best practices for accounting technology
- Trends in middle-market accounting operations
C-Suite Snacks Webinar Series: Not Sold on Selling Your Business? Why Now is ...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
The recently proposed tax provisions in the Biden Administration’s American Families Plan should provide substantial incentives for business owners to discuss the creation of an Employee Stock Ownership Plan (ESOP).
During this C-Suite Snacks webinar session, Howard Klein and Heather Oboda covered more about ESOPs, including:
- An overview of what an ESOP is including financial and non-financial benefits
- The common misconceptions about ESOPs
- How the current tax proposals make an ESOP more attractive
MasterSnacks: Cybersecurity - Playing Offense: A Proactive Approach to Cybers...Citrin Cooperman
Sign up for our weekly MasterSnacks courses here: https://www.citrincooperman.com/infocus/mastersnacks
MasterSnacks, our C-Suite Snacks spin-off, brings you a series of topic-specific courses, using our snack-sized sessions to go in depth on content important to you. Join MasterSnacks live every Wednesday at noon for live exclusive sessions.
In today's world, a cyber attack happens every 39 seconds on average. For every doom and gloom story we can tell, there are also instances where another organization’s proactive defense has helped to avoid a cyber attack.
During our final MasterSnacks: Cybersecurity session, we discussed strategies your company can implement to move your IT environment from reactive to proactive. We also shared examples of current clients whose proactive positions have had a real impact in thwarting hackers' attempts at infiltrating their organizations. We covered:
- Case studies on companies that have successfully staved off cyber attacks
- Proactive strategies for protecting your infrastructure
- Automated tools to facilitate more timely evaluation and monitoring
MasterSnacks: Cybersecurity - Disaster Recovery: Hoping for the Best but Plan...Citrin Cooperman
Sign up for our weekly MasterSnacks courses here: https://www.citrincooperman.com/infocus/mastersnacks
MasterSnacks, our C-Suite Snacks spin-off, brings you a series of topic-specific courses, using our snack-sized sessions to go in depth on content important to you. Join MasterSnacks live every Wednesday at noon for live exclusive sessions.
Since a disaster is more a matter of “when” and not “if,” it’s critical to have a plan in place to ensure a rapid recovery. Whether it’s a natural cataclysm or a human-made catastrophe, having actionable, tested steps in place to recover could mean the difference between a brief outage and weeks of downtime.
During session 2, we covered disaster recovery planning. Key takeaways included:
- Knowing the key components to include in a plan
- Understanding Recovery Time Objective (RTO) and Recovery Point Objective (RPO)
- Differentiating between disaster recovery, business continuity, and incident response plans
C-Suite Snacks Webinar Series: Mise en Place: Ensuring the Success of Your Bu...Citrin Cooperman
Sign up for our weekly C-Suite Snacks webinars here: https://www.citrincooperman.com/infocus/c-suite-snacks
Our C-Suite Snacks webinar series provides the middle market with brief, strategic, and tactical business improvement information for 30 minutes every week. Join Citrin Cooperman live every Thursday at noon for snack-sized insights for business executives.
While restaurant owners are taking precautionary health measures to protect their staff and customers, reopening may require a difference business approach altogether. Many realize that customer needs and expectations have shifted, and it is imperative for these owners to adjust to the new reality in order to succeed.
During our C-Suite Snacks webinar session, we covered how to set your business up for success in order to thrive going forward. Key takeaways included:
- Leveraging on landlords and new lease options
- Rethinking operations and e-commerce expectations
- Minding your PPPs, RRFs, SVOGs, and ERTCs
- Strategies for cash flow and revenue streams
MasterSnacks: Cybersecurity - Third-Party Crashers: Avoiding Service Provider...Citrin Cooperman
Sign up for our weekly MasterSnacks courses here: https://www.citrincooperman.com/infocus/mastersnacks
MasterSnacks, our C-Suite Snacks spin-off, brings you a series of topic-specific courses, using our snack-sized sessions to go in depth on content important to you. Join MasterSnacks live every Wednesday at noon for live exclusive sessions.
As your business wages war against cyber criminals, you must combat the vulnerabilities posed by your own third-party service providers. Your external providers must be held accountable in order to keep your business safe and secure.
During Session 1 of our MasterSnacks:Cybersecurity series, we covered more about mitigating third-party risks by evaluating and managing your service providers. Key takeaways included:
- Third-party risk evaluation and management systems
- Strategies to mitigate risk
- The value and difference between SOC Reports
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
Discover the innovative and creative projects that highlight my journey through Full Sail University. Below, you’ll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Taurus Zodiac Sign_ Personality Traits and Sign Dates.pptxmy Pandit
Explore the world of the Taurus zodiac sign. Learn about their stability, determination, and appreciation for beauty. Discover how Taureans' grounded nature and hardworking mindset define their unique personality.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
As a business owner in Delaware, staying on top of your tax obligations is paramount, especially with the annual deadline for Delaware Franchise Tax looming on March 1. One such obligation is the annual Delaware Franchise Tax, which serves as a crucial requirement for maintaining your company’s legal standing within the state. While the prospect of handling tax matters may seem daunting, rest assured that the process can be straightforward with the right guidance. In this comprehensive guide, we’ll walk you through the steps of filing your Delaware Franchise Tax and provide insights to help you navigate the process effectively.
Buy Verified PayPal Account | Buy Google 5 Star Reviewsusawebmarket
Buy Verified PayPal Account
Looking to buy verified PayPal accounts? Discover 7 expert tips for safely purchasing a verified PayPal account in 2024. Ensure security and reliability for your transactions.
PayPal Services Features-
🟢 Email Access
🟢 Bank Added
🟢 Card Verified
🟢 Full SSN Provided
🟢 Phone Number Access
🟢 Driving License Copy
🟢 Fasted Delivery
Client Satisfaction is Our First priority. Our services is very appropriate to buy. We assume that the first-rate way to purchase our offerings is to order on the website. If you have any worry in our cooperation usually You can order us on Skype or Telegram.
24/7 Hours Reply/Please Contact
usawebmarketEmail: support@usawebmarket.com
Skype: usawebmarket
Telegram: @usawebmarket
WhatsApp: +1(218) 203-5951
USA WEB MARKET is the Best Verified PayPal, Payoneer, Cash App, Skrill, Neteller, Stripe Account and SEO, SMM Service provider.100%Satisfection granted.100% replacement Granted.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
3. EFFECTIVE DATES:
▪ Public Companies – Fiscal years beginning after December 15, 2018, including interim periods within
those fiscal years.
▪ Private Companies – Fiscal years beginning after December 15, 2021, amended in June 2020. Early
adoption is permitted.
TRANSITION OPTIONS:
▪ Adopt using a modified retrospective transition method OR optional cumulative effect adjustment to
opening retained earnings (ASU 2018-11).
Overview
4. ▪ Inventory –Gather all lease documents; review agreements for imbedded leases
▪ Costly process if multiple locations/multiple departments with leases; time-sensitive for data gathering
▪ Internal time and resources; training and education; Cost
▪ Operations, Finance, Legal to work together to ensure all leases are identified and procedures in place
if new leases are signed
▪ Lease collection and logging
▪ Software or Excel-system to track and make entries depending on size and complexity (multi-
location, numerous leases)
▪ Validating the data accuracy is critical
Transition-Thoughts
5. “A contract, or part of a contract, that conveys the right to control the use of identified property,
plant, or equipment (an identified asset) for a period of time in exchange for consideration.”
What is a Lease?
LEASE CLASSIFICATION
Five criteria: If any of the following apply, the lease is classified as finance; otherwise classified as
operating.
1. Ownership of the underlying asset transfers to the lessee at end of lease term.
2. An option exists under which the lessee may purchase the underlying asset and exercise of that option
is reasonably certain.
3. The lease term makes up a major part of the underlying asset’s remaining economic life.
4. The sum of the present value of the lease payments is equal to or exceeds substantially all of the
underlying asset’s fair value.
5. NEW: The underlying asset’s specialized nature is expected to result in it not having an alternative use
to the lessor at the end of the lease term.
6. COMPARISON OF GAAP
Important Matters to Consider
COVENANT COMPLIANCE
• Potential impact on debt service coverage ratio
• Other financial covenants may be impacted
• Potential impact on working capital
Existing New
BALANCE SHEET
Leases are classified as either capital or operating lease
Only capital leases are recognized on balance sheet as
asset and related liabilities /operating leases are just
disclosed in the footnotes
Lessees will
recognize almost
every lease on
balance sheet
INCOME & CASH
FLOW
Substantially retains concept of operating versus capital (finance) leases
7. FINANCE (CAPITAL) LEASES
▪ Balance Sheet
▪ Recognize a right-of-use asset and a lease liability, initially measured at the present value of the
lease payments on the balance sheet
▪ Income Statement
▪ Recognize interest on the lease liability separately from amortization of the right-of-use asset on
the income statement.
▪ Statement of Cash Flows
▪ Classify repayments of the principal portion of the lease liability within financing activities and
payments of interest on the lease liability and variable lease payments within operating activities
in the statement of cash flows
How is the Lease Recorded?
8. OPERATING LEASES
▪ Balance Sheet
▪ Recognize a right-of-use asset and a lease liability, initially measured at the present value of the
lease payments on the balance sheet
▪ Income Statement
▪ Recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease
term on a generally straight-line basis. “Lease expense”
▪ Statement of Cash Flows
▪ Classify all cash payments within operating activities
How is the Lease Recorded?
9. LESSEE ACCOUNTING OVERVIEW
▪ Classification is similar to the classification in FASB ASC 840
▪ Balance sheet presentation – can not present finance leases/operating leases on same line and must
break out each on face or in notes
▪ Income statement presentation – single lease expense presented in income from continuing
operations
How is the Lease Recorded?
Balance Sheet
Income
Statement
Cash Flow
Statement
Finance ▪ Right-of-use (ROU)
asset
▪ Lease liability
▪ Amortization
expense
▪ Interest expense
▪ Principal-financing
interest-operating
Operating ▪ Right-of-use (ROU)
asset
▪ Lease liability
▪ Single lease
expense on a
straight-line basis
▪ Lease expense-
usually operating
10. MEASUREMENT OF THE LEASE LIABILITY AND RIGHT OF USE ASSET:
▪ Lease liability
▪ Equal to the present value of the lease payments:
– Fixed payments
– Variable lease payments that depend on an index or rate (i.e. CPI) measured at the rate at lease
commencement date. Variable payments not tied to such an index are excluded and recognized in the
period incurred.
– The exercise price of an option to purchase the underlying asset if the lessee is reasonably certain to
exercise the option
▪ Discount Rate (Determining Present Value of Lease Payments)
– The rate that the entity uses to discount future lease payments should be the rate implicit in the lease if it
is readily determinable
– If not determinable, the entity should use its incremental borrowing rate
Lease Liability
11. MEASUREMENT OF THE LEASE LIABILITY AND RIGHT OF USE ASSET:
▪ Right of Use Asset (ROU)
▪ The initial measurement of the lease liability as described on previous slide
▪ Any lease payment made at or before the lease commencement date, less any incentives
received
▪ Any initial direct costs incurred
– Only incremental costs qualify as initial direct costs subject to capitalization
– These costs are those that the entity would not have incurred if the lease had not been entered into (i.e.
commissions)
– Legal costs are not considered initial direct costs because they would be incurred regardless of whether
a lease is ultimately obtained
▪ ROU = Lease Liability + Initial direct costs – lease incentives + prepayments
Right Of Use Asset
12. ▪ Extension periods that have a reasonable chance of being executed should be included
▪ Lease modifications to be assessed-may be a new lease or remeasure existing lease and reassess
classification
▪ Lease and non-lease components to be segregated (CAM, taxes and insurance). Leases to be
revised to break these out of the fixed lease payment if they are included, or may be capitalized
▪ Lessor accounting relatively unchanged
▪ Related Party Leases-Many related party leases do not have contractual terms or there is no
agreement in place
▪ Leases will potentially need to be written or modified
▪ Potential issue-leasehold improvements on related party leases have been capitalized for
extended lengths of time; if a lease is month-to-month it is difficult to capitalize leasehold
improvements for 20 years!
Items to Note
13. Lease term is for 3 years
Payment schedule
▪ $200,000 at the end of Year 1
▪ $300,000 at the end of Year 2
▪ $400,000 at the end of Year 3
Discount rate is 5%
Present value of lease payments is $808,120
Operating lease straight line annual payment is $300,000
There are no variable lease payments
Example Facts
14. Using the example facts
Finance Lease Example
Year Right-of-Use Asset Lease Liability
Beginning
Balance Amortization
Ending
Balance
Beginning
Balance
Interest @
5% Payments
Ending
Balance
1 808,120 269,373 538,747 808,120 40,406 200,000 648,526
2 538,747 269,373 269,373 648,526 32,426 300,000 380,952
3 269,373 269,373 - 380,952 19,048 400,000 -
15. Finance Lease Example - Summary
Year 1 Year 2 Year 3 Total
Interest 40,406 32,426 19,048 91,880
Amortization 269,373 269,373 269,373 808,120
Total Expense 309,779 301,800 288,421 900,000
Year 1 Year 2 Year 3 Total
Operating Cash
Flow
40,406 32,426 19,048 91,880
Financing Cash
Flow
159,594 267,574 380,952 808,120
Total Cash Flow 200,000 300,000 400,000 900,000
16. Operating Lease Example
Year Right-of-Use Asset Lease Liability
Beginning
Balance
Straight-line
Expense Interest Amortization
Ending
Balance
Beginning
Balance
Interest @
5% Payments
Ending
Balance
1 808,120 300,000 40,406 259,594 548,526 808,120 40,406 200,000 648,526
2 548,526 300,000 32,426 267,574 280,952 648,526 32,426 300,000 380,952
3 280,952 300,000 19,048 280,952 - 380,952 19,048 400,000 -
Expense Classified as A Single Line Item
• Above illustration depicts calculations necessary for subsequent measurement of the ROU asset and lease liability
• Interest and amortization components above are presented as a single operating expense similar to existing GAAP
17. Operating Lease Example - Summary
Year 1 Year 2 Year 3 Total
Interest 40,406 32,426 19,048 91,880
Amortization 259,594 267,574 280,952 808,120
Total Expense 300,000 300,000 300,000 900,000
Year 1 Year 2 Year 3 Total
Operating Cash
Flow
200,000 300,000 400,000 900,000
Financing Cash
Flow
- - - -
Total Cash Flow 200,000 300,000 400,000 900,000
20. Debt to Equity and
Current Ratios
ASSETS
Current Assets
Cash $ 10,000 Debt to Equity BEFORE
Accounts receivable 80,000 Outstanding Commitments 1,070,000
Inventory 2,000,000 Equity 1,500,000
Prepaid expenses 20,000 Debt to Equity Ratio 0.70
Total current assets 2,110,000
Property and Equipment, Net 1,000,000 Debt to Equity AFTER
Other Assets Outstanding Commitments 2,172,000
Right of Use Asset 1,102,000 Equity 1,500,000
Total other assets 1,102,000 Debt to Equity Ratio 1.40
Total Assets $ 4,212,000
CHANGE 0.70
LIABILITIES AND PARTNERS' CAPITAL
Current Liabilities
Current portion of long-term debt $ 70,000 Current Ratio BEFORE
Current portion of lease liability 200,000 Current Assets 2,110,000
Accounts payable 35,000 Current Liabilities 610,000
Advanced deposits 230,000 Current Ratio 3.46
Accrued expenses 275,000
Total current liabilities 810,000 Current Ratio AFTER
Long-Term Debt, Net 1,000,000 Current Assets 2,110,000
Lease Liability 902,000 Current Liabilities 810,000
Total liabilities 2,712,000 Current Ratio 2.60
Commitments and Contingencies
Partners' Capital 1,500,000 CHANGE (0.85)
Total Liabilities and Partners' Capital $ 4,212,000
21. ▪ Initial adoption-you can elect to use the package of practical expedients which includes:
▪ No reassessment of lease classification (operational or capital)
▪ No re-evaluation of whether a lease continues to be a lease
▪ No reassessment of initial direct costs-if they met under 840 and continue to meet under 842
▪ Combining (not separating) lease and non-lease components within contracts
▪ Use of risk-free rate as incremental borrowing rate
▪ Short term lease recognition exemption (exclude 12 months or less at lease inception)
▪ Use of hindsight
Practical Expedients
22. Disclosure Requirements –
Highlights of What’s New
QUALITATIVE QUANTITATIVE
• Significant assumptions and judgments
- Determination of whether a contract contains a lease
- Allocation between lease components
- Determination of discount rate
• For Finance leases, amortization of right-of-use (ROU) assets &
interest on lease liabilities (including capitalized interest)*
• Policy election to not recognize short-term leases • Operating lease expense (including capitalized costs)*
• Policy election to bundle lease components for allocation purposes • Short-term lease expense, when term > 30 days*
* The disclosed expense items should include any amounts that were
capitalized as part of the cost of another asset, such as inventory,
software development costs, and equipment.
• Variable lease expense*
• Sublease income
• Gains and losses on sale-leaseback transactions
• Cash paid for amounts included in measurement of lease liabilities,
segregated by Finance & Operating leases and between operating
and financing cash flows
• Supplemental noncash information on ROU assets obtained in
exchange for new lease liabilities, separately for Finance & Operating
leases
• Weighted-average remaining lease term, presented separately by
Finance and Operating leases
• Weighted-average discount rate for Finance and Operating leases as
of the balance sheet date
23. Sale Leaseback Transactions –
Some Good News!
OLD LEASE STANDARD (ASC 840) NEW LEASE STANDARD (ASC 842)
Best case scenario: Some or all of the gain on the sales component of the
transaction is deferred
Recognize full gain on sale in year sold
Worst case scenario: Fails sale-leaseback treatment, accounted for as a
financing agreement
Must meet the follow criteria
• Control of the leaseback property transfers to buyer under ASC 606
• Leaseback is an operating lease to the lessee
• No repurchase option in most cases
24. ▪ Inventory your leases
▪ Consider embedded leases in other contracts
▪ Review vendor payments with service agreements
▪ Determine key metrics of the leases identified
▪ Incremental borrowing rate
▪ Lease term
▪ Bundling of lease and non-lease components
Next Steps
25. ▪ Quantify the impact on your Company’s financial statements
▪ Potential covenant impacts
▪ Practical application of the standard
▪ Infrastructure needed to support
▪ Assess the most appropriate tools to use for the accounting
▪ Excel tool
▪ Third party software recommendations
▪ Facilitate conversation with financial statement users
▪ Lenders, vendors, insurance companies, etc.
How We Can Help