Leases in Financial Statements

Location: In Person at Grappone Toyota
Duration: 2 hours 
Tuition: Individual Registration: $49 All funds benefit of the New Hampshire Automotive Education Foundation.
Who should attend: Office Managers, Controllers, and Senior Accounting Personnel

NHADA Silver Partner Tyler, Simms & St. Sauveur will conduct a webinar on Wednesday, November 16, at 10:00 a.m., to provide insight and guidance on the lease standards in effect for 2022 and discuss the most effective ways to utilize your monthly financial statement. The discussion will address common scenarios and provide adoption methods to implement the new lease standard. They will also discuss best practices for reading and preparing your financial statement.

In February 2016, the new lease accounting standard (ASU 2016-02) was issued. What had been pushed off for so long finally becomes effective for privately held businesses for annual periods beginning after December 15, 2021. As with any new standard, the rules surrounding it can be complex and convoluted.

The financial statement is the most useful tool to the dealer and the accounting department. It is used not only to evaluate the dealership’s performance, but as a form of communication with the manufacturer and lenders. When used correctly, the dealership can unlock potential opportunities and avoid unexpected deficiencies.

Register online or
email Kaleena Guzman; or 
call 800-852-3372 to register.