LUNCH INCLUDED!

The Financial Accounting Standard Board (FASB) has issued ASC 842, Leases, which will require most leases to be recognized on the balance sheet and requires enhanced disclosures.  Public companies were required to adopt this new accounting policy in 2019, while private companies have to adopt the new standard in 2022.  ALL contractors will be required to change its accounting policies for leases. The time is now to learn how this will impact your company’s balance sheet and bank covenants. 

Objectives:

• Big picture: What’s changing?
• Identify the basic rules for accounting for lease and rental agreements.
• Does a contract contain a lease?
• Implementation steps.
• Expected impact – examples of changes to the balance sheet.

MAYA INOVA| PARTNER AT WILSON IVANOVA  

Maya is a partner with Wilson Ivanova Certified Public Accountants, Inc., she started her career in public accounting in 2007 with a local CPA firm. Maya has over fifteen years of experience in auditing and business consulting for small to medium size, closely held, businesses.  Maya is responsible for planning and supervising financial statement audits, reviews, and compilations for clients in different industries. Furthermore, Maya has extensive experience providing accounting and consulting services to clients in the manufacturing and construction industries, including tax planning, budgeting, and profitability analysis.    Maya has been a speaker for various organizations, including IE RMA, IMA, CFMA, guest lecturer at California State University San Bernardino and the Toolbox Construction Software Conference.