Adopting the New Lease Accounting Standards for Nonprofits

The new Lease Accounting Standards are effective for years ending December 31, 2022, and after for private companies, including nonprofits. Join Herbein on November 15, 2022 as we provide guidance surrounding the new rules and key information for organizations to prepare for implantation.

The webinar will walk-through the Accounting Standard Update (ASU) 2016-02, Leases (Topic 842) and provide insight into aspects of the new lease standard that are particularly relevant to lessees in a non-public entity. We will review how all leases will now be captured on the balance sheet and recorded through the financial statements, as well as the process to determine if a lease exists and how to record it properly under the new standard.

After attending the webinar, attendees will:

• Gain an understanding of the new standard
• Receive useful information to conduct an analysis and implementation
• Find solutions to ease the transition