2019 Summit Overview

June 11-13th, 2019 | Dallas – Fort Worth, TX

The Enterprise Lease Accounting

Industry’s Largest Event

Hosted by LeaseAccelerator

The Dallas 2019 Enterprise Lease Accounting Summit was the biggest yet. Experts from Fortune 1000 companies and top Accounting and Advisory firms gathered to discuss the new lease accounting standards. Topics included how to overcome implementation challenges like data collection, calculating IBRs, and the transition, as well as best practices for ongoing compliance like preparing for audits, optimizing the new close, and building a center of excellence.

Of course, no lease accounting summit would be complete without a leasing extravaganza to wrap it up. This year Summit-goers attended Leasapalooza: a rodeo, chuckwagon BBQ, and hoedown.

LeaseAccelerator

EVENT SPONSORS INCLUDED

LA_Summit-2019-Sponsors

Presentation Topics Included

Technical Accounting

  • Practical expedients
  • Determining incremental borrowing rates
  • International reporting vs US GAAP
  • Presentation and disclosures

Resources

  • Staffing the lease accounting project team
  • Selecting an implementation partner
  • Building leasing centers of excellence
  • Recruiting and developing talent

Business Processes

  • Understanding the procure-to-pay lifecycle
  • Tracking changes throughout the term
  • Roles and responsibilities of business units
  • Automating record-to-report and the monthly close

Policies and Controls

  • Defining accounting policies for leasing
  • Designing controls for day 1 and day 2
  • Working with auditors pre- and post-adoption
  • Ensuring accuracy and completeness

Data

  • Inventorying the enterprise lease portfolio
  • Abstracting data from leasing contracts
  • Maintaining completeness
  • Integrating between systems

Systems

  • Lease accounting software selection
  • Lease administration vs accounting
  • Integrating with GL, AP, and Real Estate
  • Testing system outputs for accuracy

Equipment Leasing

  • End of term buyouts, returns, and renewals
  • Multi-asset lease schedules
  • Working with the asset owners
  • Modifications, reassessments, and remeasurements

Real Estate Leasing

  • Variable rent changes
  • Collaborating with the real estate team
  • Separating lease and non-lease components
  • Sub-leases, sale/leaseback, and build-to-suit arrangements

General Session Agenda

Wednesday, June, 12th

Open to all summit attendees

Breakfast Educational Sessions

Breakfast will open for all attendees at 7:30 am.

7:30 am

Introduction to GASB 87

Learn the differences between GASB 87 and the new FASB rules. Understand the impacts to the balance sheet, statement of activities, and cash flow statements along with the GASB principles for lease definition, term, modifications, and terminations.

Morning General Session

8:42 am

Opening Remarks

Kickoff to the fourth Enterprise Lease Accounting Summit with a brief overview of the agenda and what to expect from the day.

9:00 am

Preparing for Audits

Hear predictions on what to expect from the first full year audit and how companies are planning to demonstrate accuracy and completeness. Understand how companies are working with auditors throughout the implementation on scoping, policies, materiality, and practical expedient elections.

9:45 am

Designing, Managing, and Optimizing the Close

Hear best practices and lessons learned from public companies who recently filed their first 10-Q of 2019 under the new standards. Learn key considerations for timing of subledger cutoff, handling manual workarounds, and dependencies between financial systems.

10:30 am

Morning Break

10:45 am

IFF Case Study

International Flavors and Fragrances will share a case study of their lease accounting journey. IFF’s project leader will share the key challenges and obstacles faced during implementation as well as the best practices and insights gained post-adoption.

11:20 am

Incremental Borrowing Rates

The incremental borrowing rate is one of the most significant judgments that will need to be made by lessees. Learn best practices for making reasonable approximations by utilizing reference rates such as government bonds and working with banks and lenders to obtain secured borrowing rates.

12:00 pm

Morning Wrap-Up

A special guest will offer a quick recap of the morning’s sessions.

12:15 pm

Lunch

Afternoon Breakouts

1:00 pm

Pre-Adoption Day One Track

Transition and Practical Expedients

Understand the pros and cons of electing various practical expedients available for ASC 842 and IFRS 16, including the package of three, short term exemptions, and low value lease exemptions.

Post-Adoption Day Two Track

Complex Use Cases

Prepare for the unexpected by learning some of the most challenging use cases with real estate and equipment leases, including partial equipment lease terminations, index-based rent changes, and sale-leaseback transactions.

1:35 pm

Data Abstraction and Collection

Learn best practices for collecting data. Topics will include identifying embedded leases, handling foreign languages, and using machine learning technologies.

Embedded Leases

Learn best practices for identifying whether service contracts and outsourcing agreements meet the definition of a lease, including automating discovery and collaborating with Procurement.

2:10 pm

Selecting a Software Provider

Understand the pros and cons of spreadsheets, ERP, real estate and stand-alone systems. Learn key software features such as the leasing subledger and accounting engine.

Building a Center of Excellence

Learn the key considerations for building a center of excellence to manage the record-to-report process, including defining scope, sourcing talent, and interacting with the business units.

2:40 pm

Afternoon Break

3:30 pm

Selecting an Implementation Partner

Learn the benefits of engaging external advisory firms for future state design, data abstraction, software selection, testing, communications, training, and overall project management.

International Reporting & FX

Many multinational companies will have to adopt IFRS 16 as well as additional statutory requirements. Panelists will discuss the key issues facing multinationals as well as strategies for working with regional finance teams.

3:35 pm

Lessor Accounting for Lessees

Master the key differences between lessee and lessor accounting. Learn the processes, systems, and controls required to apply the standards for sub-leases and inter-company arrangements.

ROI for Centralizing Lease Management

Lease accounting can be more than a compliance burden. Understand how companies are benefiting from centralization with cost savings through smarter capital decisions, lower financing rates, and reduction of evergreen fees.

Afternoon — The Close

4:10 pm

Station Casinos Case Study

Station Casinos will share a case study of their lease accounting journey. The project leader will share the key challenges and obstacles faced during implementation as well as the best practices and insights gained post-adoption.

4:45 pm

Afternoon Wrap-Up

A special guest will offer a quick recap of the afternoon’s session.

5:00 pm

Closing Remarks

6:00 pm

Shuttles will depart for Leasapalooza

Pre-Conference Workshops & Training

Tuesday, June, 11th

Open to LeaseAccelerator Customers and Partners Only

9 am – 5 pm

LeaseAccelerator Application Training

Both partners and customers can get trained in how to implement and operate LeaseAccelerator’s enterprise lease accounting application. Attendees will earn CPE credits.

Post-Conference Workshops

Thursday, June, 13th

Open to LeaseAccelerator Customers Only

LeaseAccelerator Customer Forum

LeaseAccelerator customers attending the Enterprise Lease Accounting Summit are encouraged to join this customer-only half-day session (9 am – 2 pm).

Customer Forum Agenda:

1

Company Update

LeaseAccelerator’s CEO will provide an update on the company’s growth over the past year and share his vision for what is next on the horizon.
2

Customer Success Update

LeaseAccelerator's Chief Customer Officer will explain the various advocacy and empowerment programs that are being implemented to help customers transition to the new standard, successfully close your books, and pass your first audit.
3

Product Roadmap

LeaseAccelerator’s VP of Product Management & Strategy will provide the latest updates to LeaseAccelerator’s product roadmap for the remainder of 2019 as well as a preview of new functionality planned for 2020.
4

Technology Update

LeaseAccelerator’s Chief Technology Officer will provide an update on recent changes and future plans for release management, performance tuning, quality assurance, and SOC audits.
5

Executive Q&A Panel

A panel of LeaseAccelerator’s executives will answer questions from the audience about company strategy and focus areas; product roadmap priorities; application performance, quality, and SOC audits; implementation success; and post-adoption customer success

Speakers from Fortune 1000 and Major Accounting Firms

Shauna Watson

Vice President and Global Head of Technical Accounting,
RGP

Guy Mayberry

Lease Accounting Consultant,
RGP

Tim Tickle

Director of Technical Advisory Services,
RGP

Chad Soares

National Office Partner specializing in leasing,
PwC

Laura Zenick

Deals – Director,
PwC

Sean Rugers

Partner – Accounting Advisory,
PwC Australia

Neal McDonald

Senior Engagement Manager,
Riveron

Bob Malinowski

Senior Director – Technical Accounting and Consulting,
RSM

Yulia Ellison, CPA

LeaseAccelerator Consultant,
Vaco

Felipe Nogueira

Managing Partner,
Qiado

Joao Marques

Manager,
Qiado

Jeremy Brinkerhoff

Managing Director,
CFGI

Len Neuhaus

Lease Accounting Consultant,
International Flavors and Fragrances

Laura Knudson

Director of Corporate Accounting,
Station Casinos

Amie Sweeney, CPA

Vice President,
CBRE Corporate Capital Markets

Yomara Eiranova

Senior, Financial Accounting Advisory Services
EY

John Bober

Senior Advisor to
EY

John-Michael Kretz

Managing Director – Accounting Advisory Services,
KPMG

Charles Converse

Director of Operations Accounting,
NuStar Energy

Justin Baker

Director – Technical Accounting,
Charter Communications

Grace Fielding

Senior Accountant,
Tyson Foods

Danielle O’Brien

Director of External Reporting,
Teleflex

Amir Aslam

Senior Manager of External Reporting & Technical Accounting,
Waste Management

Jean Caldwell, CPA

Senior Project Manager,
Vaco

Troy Sheehan

Management Consulting Supervisor,
RSM

Matt Svetich

Director of Technical Accounting and Business Development,
Effectus Group

Joe Mussey

Manager of Accounting Policy and Consultation,
General Dynamics

Skyler Ray

Manager – Treasury and Leases,
Tyson Foods