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Determining the Implicit Rate Under the New Lease Accounting Standards

DETERMINING THE IMPLICIT RATE UNDER THE NEW LEASE ACCOUNTING STANDARDS

Cost Free
Presentation Length 1.0 hour

Recorded DateOctober 29, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

During this live event, LeaseQuery will highlight the differences in interest rates available for leases for both lessees and lessors under the main accounting jurisdictions. Our lease accounting experts will outline the correct application of the implicit rate within a lease under the new lease accounting standards: ASC 842, IFRS 16, and GASB 87, discussing their similarities and differences. Finally, our accountants will walk through a detailed example of how to correctly calculate the implicit rate within a lease.

Learning Objectives:


  • Determine the various lease interest rates and when to use each

  • Identify the differences in applying the implicit rate under the three main new lease accounting standards

  • Discuss and demonstrate an example of how to calculate the implicit rate based on key inputs

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
Linkedin

Rachel Reed

FinQuery
Technical Accounting Manager
rachel.reed@leasequery.com
(800) 880-7270

Finquerylogo

Rachel Reed is a Technical Accounting Manager at LeaseQuery. Rachel's experience includes working in the audit practice at EY, where she served clients across various industries in both the public and private sectors. Rachel graduated from the University of Mississippi (Ole Miss) with a Bachelor's degree and a Master's degree in Accounting. 

Linkedin

Amanda Payne

FinQuery
Technical Accounting Manager
amanda.payne@leasequery.com
(800) 880-7270

Finquerylogo

Amanda Payne is a Technical Accounting Manager at LeaseQuery. She began her career at Ernst & Young (EY) in assurance services working with clients in the public, private, and nonprofit sectors. There she was responsible for planning and performing audit procedures, collecting and organizing ongoing support from client management, and leading and presenting to client management and assurance teams in the Americas, India, and Egypt. Amanda earned a bachelor’s degree in Accounting with a Specialization in Professional Accounting from the University of Alabama and a master’s degree in Accounting from Troy University.

About Our Presenter

Finquerylogo
FinQuery, formerly LeaseQuery, empowers 36,000+ professionals to optimize decisions in their top spending areas—leases, software subscriptions, and financial contracts—setting them apart in the market. Their award-winning AI-driven software minimizes risk, boosts efficiency, and cuts costs. Explore FinQuery’s Platform for contract and spend intelligence, including solutions for contract management, specialized accounting ensuring compliance with ASC 842, IFRS 16, GASB 87 and GASB 96, and software management.