Lease Accounting Conference 2020: Successfully Implementing the New Standard

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Lease Accounting Conference 2020: Successfully Implementing the New Standard

CPE Credit: 16 Hours

Price: $1,445.00

NASBA Field of Study: Accounting

 

Overview

FASB’s New Lease Accounting Standard greatly alters the accounting rules for leases and will have a huge impact on most companies’ financial reporting. To prepare you for these significant changes, we are pleased to present our two-day Lease Accounting Conference.

You'll receive the latest updates on FASB's New Lease Accounting Standard, along with the latest, real-world tested success strategies to handle all of these major new changes.

This specialized conference will feature a practical learning approach with interactive case studies. Attendees will have the opportunity to understand the implementation questions the FASB and IASB have been receiving, and have any questions answered directly by the experts.
 

AGENDA HIGHLIGHTS

•  Overview of the New Leasing Standard

•  What is a Lease? An In-Depth Look

•  Key Definitions & Concepts Under the New Leasing Standard

•  Separating Lease & Non-Lease Components

•  A Deep Dive Into Lessee Accounting Under the New Standard

•  A Deep Dive Into Lessor Accounting Under the New Standard

•  Certain Transactions (Lessors and Lessees)

•  Industry Panel Discussion on Managing Implementation & the Transition to the New Standard

•  Transition & Disclosure

•  Transition to the New Standard: Practical Implementation Matters Related to Systems, IT & Software

•  Impact of the New Rules on Tax Accounting 

 

LEARNING OBJECTIVE  To update accountants and other financial professionals on FASB/IASB’s recent and upcoming rule changes regarding accounting for leases, while providing practical advice and proven effective techniques for handling these changes.

PREREQUISITE  None.    ADVANCE PREPARATION  None.    PROGRAM LEVEL  Update.    NASBA FIELD OF STUDY  Accounting.    DELIVERY METHOD  Group-Live.

 

This program is also available via live webinar
Lease Accounting Conference 2020: Successfully Implementing the New Standard Webinar

Agenda

DAY ONE AGENDA*


Deluxe Continental Breakfast & Registration
8:00 – 8:45 AM

Welcome & Opening Remarks
8:45 – 9:00 AM

Overview of the New Leasing Standard
9:00 – 10:00 AM
The New Leases guidance was issued by the FASB in February 2016. This session will provide an overview of the New Leases Standard, along with latest amendments under US GAAP.
• Background, effective date and transition
• Model overview from a lessee’s perspective
• Model overview from a lessor’s perspective
• Scope, including short-term leases
• Portfolio approach, capitalization threshold
• Lifecycle of a lease 
• Accounting model for certain transactions—subleases, sale and leasebacks, build-to-suits
• Preparing for a smooth transition

Break
10:00 – 10:15 AM

What is a Lease? An In-Depth Look
10:15 – 11:30 AM
Companies often enter into arrangements that may contain embedded leases. This session will provide an in-depth discussion about what a lease is and how to identify it, along with several interactive examples and case studies.
• What is a lease?
• How to identify a lease
  – Decision tree walk-through
  – Illustrative practical examples
  – Interactive case studies to give you practical experience in how to apply the New Leasing model

Key Definitions & Concepts Under the New Leasing Standard
11:30 AM – 12:00 PM
This session will give you a working knowledge of the key definitions and concepts under the New Leases Standard that will help you understand the lessee and lessor lease accounting model, including:
• Commencement date
• Lease term
• Lease payments
• Initial direct costs
• Discount rate

Luncheon
12:00 – 1:00 PM

Separating Lease & Non-Lease Components
1:00 – 2:15 PM
An arrangement may contain lease and non-lease components. This session will help you identify and separate lease and non-lease components from a lessee’s and lessor’s perspective, along with practical examples.
• What is a component?
• Identifying lease and non-lease components
• Mechanics of how to calculate consideration in the contract and allocate it to lease and non-lease
  components
• Interactive practical examples to illustrate how separation and allocation actually work

Break
2:15 – 2:30 PM

A Deep Dive Into Lessee Accounting Under the New Standard
2:30 – 3:45 PM
The New Leases Standard will impact lessees significantly. In this session, we will discuss the lessee accounting model in detail.
• Lease classification and financial statement impact
• Recognition and measurement
• Asset impairment
• Reassessment requirements
• Modification
• Lessee accounting practical examples and interactive case studies

Break
3:45 – 4:00 PM

A Deep Dive Into Lessor Accounting Under the New Standard
4:00 – 5:15 PM
There are certain changes to the lessor accounting model that may have a significant impact on lessors. In this session, we will discuss the lessor accounting model in detail.
• Lease classification and financial statement impact
• Recognition and measurement
• Asset impairment
• Modification
• Day 1 loss situations
• Lessor practical expedients
• Lessor accounting practical examples and interactive case studies

Cocktail Reception
5:15 – 6:15 PM

 

DAY TWO AGENDA*


Deluxe Continental Breakfast
7:45 – 8:30 AM

Certain Transactions (Lessors & Lessees)
8:30 – 9:45 AM
There are significant changes to the accounting model applicable to certain transactions which will impact lessors and lessees. In this session, we will discuss these transactions and their accounting in detail.
• Sale and leasebacks
• Build-to-suit leases
• Subleases
• Related-party transactions
• Interactive practical examples to illustrate the concepts

Break
9:45 – 10:00 AM

Industry Panel Discussion on Managing Implementation & the Transition to the New Standard
10:00 – 11:30 AM
Learn from real-life experiences of others who are dealing with:
• Transition issues created by the New Standard’s major accounting changes
• Practical problems being faced in implementing the New Lease Accounting Standard

• Issues that have surfaced post implementation and ongoing matters

Luncheon
11:30 AM – 12:15 PM

Transition & Disclosure
12:15 – 2:00 PM
Companies will need to address transition issues under the New Leases Standard. In this session, we will discuss transition related Q&As which may help you as you prepare to adopt the New Leases Standard.
• Transition methods    
• Practical expedients     
• Lessee transition, including:
  – Operating leases
• Minimum rental payments (executory/non-executory costs)
• Index/rate for measuring lease liability for operating leases
• Exchange rate to measure operating lease liability and ROU asset
  – Capital leases
  – Exit and disposal costs
  – Initial direct costs
  – Sale-leasebacks
  – Build-to-suits
• Lessor transition, including:
  – Sales-type leases
  – Direct financing leases
  – Operating leases

This session will also cover the enhanced qualitative and quantitative disclosures now required by both lessees and lessors under the New Standard, including:
• The five-year-financial data table

Break
2:00 – 2:15 PM

Transition to the New Standard: Practical Implementation Matters Related to Systems, IT & Software
2:15 – 3:30 PM
Discover how the New Lease Accounting Standard will impact your company’s:
• Systems and processes
• Data gathering and inventorying leases
• IT implementation and software-related issues

Impact of the New Rules on Tax Accounting
3:30 – 4:30 PM
This session will focus on the computation of deferred taxes, including ASC 740 issues. It will also discuss the effects on other tax liabilities, including sales and use taxes, among others.

Conference Ends
4:30 PM

 

* PLEASE NOTE: Session topics and times are subject to change based on location and speaker availability. Please call 1-800-544-1114 for specific agenda details.

 

This program is also available via live webinar
Lease Accounting Conference 2020: Successfully Implementing the New Standard Webinar

 

Speakers

CONFERENCE SPEAKERS


Michelle Abel, Tax Senior Manager, Deloitte

Jaclyn Bachman, Senior Director, Marriott International, Inc.

Sima Basher, Associate Director, Bristol-Myers Squibb

Barry Berkowitz, Technical Accounting, Google

Nellie Debbeler, Director, Accounting Advisory Services, KPMG

Kristine Deringer, Assistant Corporate Controller, Emergent BioSolutions

Shannon Detling, Director, PwC

Louis Fanzini, Global Financial Controller, Vonage, former FASB Industry Fellow, FASB

Shelley (Klee) Finn, Senior Principal/Director of Accounting Policies, DXC Technology

Andrew Fiorenza, Director of Accounting Policy, Comcast Cable Communications

Emily Hache, Staff Auditor, Deloitte & Touche

Ashima Jain, Managing Director, PwC

Jay Klein, Advisory Services Manager, PwC

Ross Linderman, Partner, KPMG

Emily Liu, Partner, PwC

Holly McKenzie, Advisory Partner, PwC

Sallie Nold, VP of Accounting Policy, Bank of America

Tim Pardoel, Director, Advisory, KPMG

Joey Prast, Partner, Deloitte

Andrew Roberts, Senior Manager, Deloitte

Brian Rose, Partner, Deloitte Tax LLP

Timothy Tuan, Senior Manager, MorganFranklin Consulting

 

This program is also available via live webinar
Lease Accounting Conference 2020: Successfully Implementing the New Standard Webinar

Workshop

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Forum

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Location

CPE INC. has reserved a block of rooms at preferential rates. To make your hotel reservation,
call CPE INC. or the hotel’s reservation department and ask for the CPE INC. special room rate.

 

San Mateo Marriott San Francisco Airport
1770 South Amphlett Boulevard
San Mateo, CA 94402
(650) 653-6000

TKP New York Conference Center
109 West 39th Street
New York, NY 10018
(212) 444-7342

Park Hyatt Chicago
800 North Michigan Avenue
Chicago, IL 60611
(312) 335-1234

Tysons Corner Marriott
8028 Leesburg Pike
Tysons Corner, VA 22182
(703) 734-3200

 

This program is also available via live webinar
Lease Accounting Conference 2020: Successfully Implementing the New Standard Webinar