New Lease Accounting Standards: Key Changes for Oil & Gas

Presented on:
July 17, 2018 10:00 AM MST
Duration:
1 hour
Location:
Online

The oil and gas industry may face significant changes to lease reporting requirements. In this webcast, we address new standards introduced by the FASB’s Accounting Standards Codification (ASC) 842—and their effects on disclosing information about leasing arrangements. We discuss the following key topics:

  • Differences between ASC 842 and the previous GAAP
  • Right-of-use assets, lease liability, and expense components
  • Considerations for oil and gas industry contracts

 

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Speakers

Matt Rolland, Partner, Moss Adams

Matt has practiced public accounting since 2005. He provides audit and accounting services to public and private companies in the energy industry. His industry experience includes exploration and production, transportation, gas processing, and refinery and oilfield services. Matt’s expertise includes SEC reporting, public and private offerings, SOX 404 implementation and continued compliance, and complex accounting issues.

Jake Vossen, Partner, Moss Adams

Jake has practiced public accounting since 1991. He provides audit, financial reporting, and consulting services to public and private companies in the oil and gas, technology, manufacturing, and real estate industries. Jake has significant experience helping clients with due diligence and initial public offerings, private placements, mergers and acquisitions, and SEC reporting services.

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Applicable Industries