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Lease accounting experts Justin Shemaria, CPA, and David Buchanan, CPA will discuss lease incentives and their effect on consideration in a contract under ASC 842. They will also discuss leasehold improvements as one of the most common lease incentives seen in practice. The presentation will include step-by-step examples of accounting for lease incentives paid at commencement and payable at commencement.
Learning Objectives:
- Identify lease incentives and their effect on consideration in a contract
- Explore whether a leasehold improvement represents a lessor asset or a lessee asset
- Understand accounting treatment of lease incentives paid at commencement of lease agreement
- Understand accounting treatment of lease incentives payable at commencement of lease agreement
Justin Shemaria, CPA
FinQuery
Technical Accounting Manager
[email protected]
(800) 880-7270
Justin Shemaria is a Technical Accounting Manager at LeaseQuery. Prior to joining LeaseQuery, Justin worked in the audit practice at Deloitte and also worked in financial reporting at a publicly-traded fortune 500 company. Justin received in Bachelor's and Master's degree in Accounting from the University of Georgia. He is an active Certified Public Accountant and is a member of the AICPA.
David Buchanan, CPA
FinQuery
Technical Accounting Manager
[email protected]
(800) 880-7270
David Buchanan is a CPA and Technical Accounting Manager at LeaseQuery. Prior to joining LeaseQuery, David worked in the audit practice at Ernst & Young across several industries including insurance, healthcare, biomedical, and manufacturing. David received his Bachelor's degree in Accounting from California State University Northridge and Master's degree in Accounting with an emphasis in Information Systems from the University of Tennessee.
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