The Certified Lease & Finance Professional Foundation has released the seventh edition of The Certified Lease & Finance Professionals’ Handbook.

Deb Reuben, president of Reuben Creative, was hired to update the previous edition with a focused effort on incorporating CECL and ASC 842. She consulted with nine different subject matter experts on the project.

“It was a pleasure collaborating with Reid Raykovich, CLFP and so many brilliant colleagues to revise and launch this new edition of the book,” said Reuben.

With research and cross-functional implications to consider, the newly added appendix covering CECL went through a total of 18 drafts before it was finalized. The Accounting chapter also had major revisions to bring it up to date for the ASC 842 standard. Overall seven of nine chapters were revised for this edition to accommodate the updated Body of Knowledge. Lastly, the appendix for financial statement review practice now includes exercises to illustrate the impact of ASC 842 from a credit perspective.

The 2019 CLFP Exam will continue to be based on the Sixth Edition of the Handbook, and in 2020, the Exam will be updated to reflect the new content.

The Handbook is available for purchase through the Foundation’s website and through Amazon.