March 26, 2019
8:00 am - 10:30 am

Adopting ASC 842: The New Lease Standards for Private Companies and Nonprofits

After December 15, 2019, all private companies and nonprofits who issue financial statements will be required to adopt ASC 842, the new lease accounting standard for US GAAP. The most significant change is that almost all leases, including operating leases, have to be capitalized as “finance” leases and placed on the balance sheet.

Join Kforce, Gelman, Rosenberg & Freedman CPAs and Young Asset Services, LLC for a breakfast seminar to learn how the significant changes under ASC 842 will affect your organization. Participants will come away with the key components necessary to make adoption and implementation easier and more effective.


  1. Identification of Contractual and Embedded Leases
  2. Classification of Leases
  3. Right of Use (ROU) and Liabilities
  4. Lease vs. Non‐Lease Components
  5. Lease Term, Measurements and Re‐Measurements
  6. Practical Expedient Elections: Pros & Cons
  7. Comparison Between FASB vs. IASB
  8. How to Adopt and Implement ASC 842


Paul H. Calabrese | Principal | Gelman, Rosenberg & Freedman CPAs

Jess Young | Young Asset Services, LLC


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The University Club of Washington DC
1135 16th Street NW
Washington, DC 20036

Additional Program Details

  • Learning Objective: To provide attendees with a better understanding of the new lease accounting requirements (ASC 842)
  • Instructional Delivery Methods: Group Live
  • Recommended CPE: 2.0 CPE Credits
  • Recommended Fields of Study: Accounting
  • Prerequisites: None Required
  • Advance Preparation: None
  • Program Level: Basic
  • Course Registration Requirements: None
  • Refund Policy: No fee is required to participate in this session.
  • Cancellation Policy: In the event that the presentation is cancelled or rescheduled, participants will be contacted immediately with details.
  • Complaint Resolution Policy: Gelman, Rosenberg & Freedman is committed to our seminar participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact with any concerns.