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The Art of Shrinking: Lease Adjustments for Real Estate Downsizing
April 18 @ 1:00 pm – 2:00 pm EDT
Free
1 CPE credit
Course Description
Join FinQuery’s lease accounting expert Rachel Reed, as she explores what you can do if you find your current real estate lease portfolio may be more than you need and how to account for the various changes you make to your leases as a result.
During this presentation, Rachel will walk through different scenarios related to reducing your leased space, including considerations for subleasing, how to account for a partial termination, what to evaluate for a potential impairment, and lastly, when to determine you have a lease abandonment. We’ll also discuss some of the financial reporting and disclosure ramifications of the various options.
Learning Objectives
- Discuss evaluating your current real estate leases and the options available if they need to be adjusted to meet your current organizational needs
- Understand the steps to take to sublease your space and the appropriate accounting treatment
- Describe the approach to recording a partial termination under ASC 842
- Identify the key considerations to evaluating for an impairment and recognizing an asset abandonment and the differences between the two
