CCLA Course 3 – Lesson 9

Lesson 9: Lease Processes and Lease Controls – The Role of the Financial Reporting Team Review week 8 Homework Assignments • Role of the Financial Reporting Team o Discount Rate o Embedded Leases o Aggregated Leases o Impairment Homework: Review for Final Lesson... Read More

CCLA Course 3 – Lesson 8

Lesson 8: Lease Processes and Controls – Subprocess 7 – Lease Terminations and Remeasurements Review week 7 Homework Assignments Subprocess 7 – Lease Terminations • Full • Partial • Subleasing Homework: Review several public company disclosures and note differences... Read More

CCLA Course 3 – Lesson 7

Lesson 7: Lease Processes and Controls – Subprocess 7 – Lease Modifications and Remeasurements Review week 6 Homework Assignments Subprocess 7 – Lease Modifications • Remeasurement • New Contract Homework: An operating lease is a contract that permits the use of an... Read More

CCLA Course 3 – Lesson 6

Lesson 6: Lease Processes and Controls – 842 Entries Review mid-term results • Subprocess 6 – ASC842 o How to Determine Lease Term o Calculation of Lease Liability o Calculation of the Right of Use Asset o 842 Journal Entries o Updates to the 842 schedules... Read More

CCLA Course 3 – Lesson 4

Lesson 4: Lease Processes and Lease Controls – Lease Incentives Review Week 3 Homework Assignments Review the year end audit for lease accounting Review internal controls • Subprocess 5 – Lease Incentives o Construction Allowance Receivable Schedule Homework: Prepare... Read More

CCLA Course 3 – Lesson 3

Lesson 3: Lease Processes and Controls – Rent and Occupancy Changes Review Week 2 Homework Assignments • Subsequent accounting for leases • Subprocess 4 – Validating rent and occupancy changes o Batch feeds of rental payments  Monthly Rent Change Control Sheet... Read More

CCLA Course 3 – Lesson 2

Lesson 2: Lease Processes and Controls Review Week 1 Homework Assignments • Review accounting controls all organizations need • Subprocess 1 – Identification and recognition of new leases – location openings • Subprocess 2 – Validating the completeness of the... Read More

CCLA Course 3 – Lesson 1

Lesson 1: System Proficiency • Objective o Software is a tool to provide automation for the tracking and reporting of data o Not all real estate portfolios require expensive and powerful software solutions o The key is understanding the nature of the current portfolio... Read More

CCLA Course 2 – Lesson 9

Lesson 9 Outline: Reporting Review Week 8 Homework Assignments • Report Format • On-line Access • Scheduled Standard Monthly Reporting • Reporting on Outstanding Issues • Confidentiality   Homework: Review for final   Lesson Documents/Materials: click here... Read More

CCLA Course 2 – Lesson 8

  Lesson 8 Outline: Changes to Existing Abstracts Review Week 7 Homework Assignments • Changes to Existing Abstracts • Identify Touch Points • Data input at the source • Avoid Duplication • Reviewing of Abstracting and Output   Homework: Homework Document... Read More

CCLA Course 2 – Lesson 6

  Lesson 6 Outline: Quality Control Process Review Midterm Results and Review Homework Assignment • Data Integrity/Consistency of information o Initial review process o Clear documented processes and procedures o Training/Workflow manuals o Cost Control o Ongoing... Read More

CCLA Course 2 – Lesson 7

  Lesson 7 Outline: Document Management & Storage  Review Week 6 Homework Assignments Documentation Organization – Original Documents o Naming conventions o Document Scanning o File Retention Program   Homework: Homework Document Sample Lease Abstract... Read More

CCLA Course 2 – Lesson 4

Lesson 4 Outline: How to create a lease abstract template continued Review Week 3 Homework Assignments • Lease Execution Date • Lease Vacate Date • Commencement Date Formulas • Opening Requirements • Minimum Rent Requirements • General checklist of additional items to... Read More

CCLA Course 2 – Lesson 3

Lesson 3 Outline: How to create a lease abstract template Review Week 2 Homework Assignments • Documentation Needed to Complete a Lease Abstract • Capture all key provisions that may be contained in other lease documents • Apply most recent terms and conditions to the... Read More

CCLA Course 2 – Lesson 2

Lesson 2 Outline: Data Abstraction Process Review Week 1 Homework Assignments • Request copies of lease agreements/documents • Take inventory of any missing documents • Determine what provisions need to be summarized in the • Move individually through each provision,... Read More

CCLA Course 2 – Lesson 1

Lesson 1 Outline: Planning and Design • What is a lease abstract? • Who needs lease abstraction? • Why is lease abstraction important? • Portfolio Characteristics • Why do I need a lease abstract? o Internal o External • Portfolio Makeup o Documentation Requirements o... Read More