PPT-How will Walgreen’s leases impact its financial position under the new FASB lease standard?

Original blog posting November 22 2016 Walgreens FASB issued new guidance for leases requiring companies to book both an asset and a liability Walgreens is estimated to be hit the hardest Has over 30 billion in operating lease obligations. By Phil Rickard. Associate Professor of Accounting, Mount Vernon Nazarene University. What is U.S. Accounting Convergence?. Accounting Harmonization. Relates to the process of substantially standardizing the rules and regulations for international securities and the related accounting principles across . Introduction to Leases. . A lease is a legal contract between a tenant (lessee) and landlord (. lessor. ). Specifies the rights and obligations of the owner and user. A lease divides the “bundle of rights” in real estate into two interests. RICHARD G. SCHROEDER . MYRTLE . W. CLARK . JACK . M. CATHEY. THEORY . AND. ANALYSIS: . TEXT AND CASES. 10. TH. EDITION. CHAPTER 13. LEASES. Introduction. Property rights are acquired by the purchase of assets. October . 6, . 2010. This presentation has been prepared to help constituents understand the current status of projects of the FASB and IASB. . The views expressed in this presentation are those of the presenter. Official positions of the FASB and the IASB are reached only after extensive due process and deliberations.. Walgreen Lease Accounting and. Operational Implications. Tim Shepard . Senior Manager, Financial Accounting Advisory Services. Ernst & Young LLP. November 18, 2016. Disclaimer. These slides are for educational purposes only and are not intended, and should not be relied upon, as accounting advice.. Leases Project. Overview. Identify a lease. Lessee: how big the liability will be?. Lessor accounting: what has changed?. Other lease accounting issues. Transition provisions. What do you need to do to get ready for 2019?. . May 25, 2017. Our webinar will begin shortly. .. ASC 842: Are you ready for the new lease accounting standards?. . May 25, 2017. Bob Roll. Melissa Lacy. Questions. . 3. How to ask a question during today’s webinar?. 1. Vaibhav Tandon, CPA. Audit and Accounting Manager, Gumbiner Savett. Extensive experience with privately held clients in retail distribution, wholesale, consumer finance, and manufacturing industries. Leases (Topic 840). February 2, 2011. Douglas . Boedeker. , CPA, CMA. Dboedeker@tatetryon.com. 202-419-5106. 2. Course Outline. Why is the exposure draft being issued?. FASB timeline. Project scope. Recording by lessees. FASB Chairman. May 5, 2016. The views expressed in this presentation are those of . the . presenter. . Official positions of the . FASB are . reached only after extensive due process and deliberations.. Tuesday, March 21, 2017. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax or other professional advice. Please refer to your advisors for specific advice.. A closer look at the new leases standard- Ind AS 116 CA (Dr.) Sanjeev Singhal CA Amit Jain 1 Content Background 2 Scope 3 New Definition of lease 4 Lessee accounting 5 Lessor accounting 6 Transition Información Financiera y Normalización Contable Keywords Operating leases, international accounting standards, impact assessment, constructive method, factor method