The Certified Lease & Finance Professional (CLFP) Foundation’s Executive Director and Board of Directors announced the seventh edition of The Certified Lease & Finance Professionals’ Handbook is available for purchase.

Deb Reuben, CLFP, President of Reuben Creative, was hired to update the previous edition with a focused effort on incorporating CECL and ASC 842.  Reuben consulted with nine different Subject Matter Experts and stated, “It was a pleasure collaborating with (Executive Director) Reid Raykovich, CLFP, and so many brilliant colleagues to revise and launch this new edition of the book.”

With research and cross-functional implications to consider, the newly added appendix covering CECL went through a total of 18 drafts before finalizing. 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 handbook is available for purchase through the foundation’s website and through Amazon. 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 CLFP designation is the only certification for the equipment finance industry. There are 703 active Certified Lease & Finance Professionals and Associates in the United States, Canada and Australia.