PowerPlan Lease Accounting for Lessees

This course is for users expected to work with the Lessee Accounting module in PowerPlan, pertaining to ASC 840 / ASC 842 guidance. This course will cover the basics of lease accounting and how the Lessee Accounting module streamlines and simplifies lease accounting processes within a centralized lease repository. Day to day and monthly tasks such as lease initiation, lease maintenance, invoice reconciliation, and ASC 842 impact forecasting will be discussed.

Topics:

·         Lease Accounting basics under ASC 840 / ASC 842 guidance

o    ASC 840 – Capital vs. Operating Leases

o    ASC 842 – Finance vs. Operating vs. Short Term Leases

o    Journal entries associated with lease activity

·         Impact of transition to ASC 842

·         PowerPlan Lessee Accounting module basics

o    Specific terminology

o    Data structure – MLA’s, ILR’s, Assets

o    Common integration points

·         PowerPlan leased asset lifecycle

o    Lease initiation and maintenance (change of terms, payments, etc.)

o    Monthly Payments and Invoices

o    Transfers

o    Retirements

·         ASC 842 impact forecasting

o    Preview balance sheet impact of off-balance sheet to on-balance sheet lease transition