ENTERPRISE LEASE ACCOUNTING SUMMIT JUNE 12, 2019 · 2019-06-10 · • Subleases and inter-company arrangements • Tenant invoicing, receivables, and collections processing Presenters:

ENTERPRISE LEASE ACCOUNTING SUMMIT JUNE 12, 2019 © LeaseAccelerator,Inc. 2003-2019 All Rights Reserved


TUESDAY, JUNE 11TH TUESDAY, JUNE 11TH

Open to All Summit Registrants

Sponsored by:

TIME ROOM WHAT DETAILS 6:00pm -7:30pm

Grand Ballroom Foyer

Welcome Reception Starts

Join fellow conference attendees for a welcome reception and networking with accounting and finance professionals from Fortune 1000 organizations. The reception will feature an open bar and a variety of appetizers. After, the reception, attendees can gather in the lobby and head out for dinner at one of Fort Worth’s many fantastic restaurants or enjoy the other amenities of the city.

WELCOME RECEPTION


WEDNESDAY, JUNE 12TH TUESDAY, JUNE 11TH


Sponsored by:

TIME ROOM WHAT DETAILS 7:00am

Mezzanine Foyer

Registration

Registration for the Summit Sessions will open.

7:00am

Pecos Ballroom

CPE Sign-In

Sign-in for CPE credits. Sign-in will close at 9:00am when the first CPE eligible session begins.

BREAKFAST & EDUCATIONAL SESSIONS


TIME ROOM TOPIC DISCUSSION SPEAKERS 7:30am-8:30am

Pecos Ballroom

Breakfast Session: Introduction to GASB 87 Presentation

Breakfast will be available for all summit attendees at this session. Presenters will give an introduction to the GASB 87 standard with a focus on the differences from the new FASB rules and key impacts on the balance sheet, statement of activities, and cash flow statement. They will also discuss:

• Lease definition and term • Subleases, sale-leaseback, lease-leaseback, and intra-

entity leases • Differences between lessor and lessee accounting

Presenters: Yomara Eiranova Financial Accounting Advisory Services, EY Laura Zenick Deals – Director, PwC


WEDNESDAY, JUNE 12TH TUESDAY, JUNE 11TH

Open to All Summit Registrants TIME ROOM TOPIC DISCUSSION SPEAKERS 8:42am

Brazos Ballroom

Opening Remarks

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

Michael Keeler CEO, LeaseAccelerator

9:00am

Brazos Ballroom

Preparing for Audits Panel

Panelists will share lessons learned from working with auditors both pre- and post-adoption as well as predictions on what to expect from the first full year audit. Topics will include:

• How to work with auditors during the implementation – frequency and types of interactions

• Consulting auditors on scoping, policy elections, practical expedients, and materiality

• Pre-adoption audit focus on documentation, training, and governance

• Post-adoption audit focus on completeness and accuracy • Internal Controls over Financial Reporting (ICFR) for lease

accounting

Moderator: Chad Soares Partner, PwC Panelists: John-Michael Kretz Managing Director – Accounting Advisory Services, KPMG Len Neuhaus PMO Lease Accounting, IFF (International Flavors and Fragrances) Justin Baker Director – Technical Accounting, Charter Communications

MORNING GENERAL SESSION


TIME ROOM TOPIC DISCUSSION SPEAKERS 9:45am

Brazos Ballroom

Designing, Managing, and Optimizing the Close Panel

Panelists will share best practices and lessons learned from the first quarterly close of 2019, including:

• Dependencies upon business units to provide details on new leases, expired leases, modifications, and reassessments

• Strategies to ensure accuracy of systems and completeness of the lease population

• Interactions with other systems including the general ledger and financial close applications

• Planning for exception scenarios, imperfections, and manual workarounds in year one closes • Timing considerations for subledger cutoff and

reconciliation activities

Moderator: Shauna Watson Global Head of Technical Accounting, RGP Panelists: Charles Converse Director of Operations Accounting, NuStar Energy Laura Knudson Director of Corporate Accounting, Station Casinos Mark Koppersmith Vice President – Product Strategy, LeaseAccelerator

10:30am

Grand Ballroom Foyer

Break

10:45am

Brazos Ballroom

IFF - Case Study Presentation

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.

Speaker: Len Neuhaus PMO Lease Accounting, IFF (International Flavors and Fragrances)


TIME ROOM TOPIC DISCUSSION SPEAKERS 11:20am

Brazos Ballroom

Incremental Borrowing Rates Panel

The incremental borrowing rate is one of the most important judgments that will need to be made by lessees, as it will likely have a direct impact on the amount of the lease asset and liability recognized. It is also one of the more difficult judgements, since the rate is not directly observable. Learn best practices for making reasonable approximations, including:

• Identifying reasonable reference rates • Determining how the reference rate differs from a lease IBR • Quantifying the required adjustments • Documenting methodologies and judgments made in the

process

Moderator: John Bober Senior Advisor to EY Panelists: Joe Mussey Manager – Accounting Policy & Consultation, General Dynamics Amir Aslam, CPA Senior Manager of External Reporting & Technical Accounting, Waste Management John-Michael Kretz Managing Director – Accounting Advisory Services, KPMG

Noon

Brazos Ballroom

Morning Wrap-Up

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

12:15pm

Brazos and Grand Ballroom Foyer

Lunch

Hot buffet lunch will be available for all attendees of the General Session

Sponsor: RGP


WEDNESDAY, JUNE 12TH

TUESDAY, JUNE 11TH

Open to All Summit Registrants TIME TOPIC &

ROOM PRE-ADOPTION

DAY ONE SPEAKERS TOPIC &

ROOM POST-ADOPTION

DAY TWO SPEAKERS

1:00pm

Transition & Practical Expedients Panel Pecos I

Understand the pros and cons of electing various practical expedients available for ASC 842 and IFRS 16, including:

• Applying the “package of three” to the existing lease portfolio

• Combining lease and non-lease components

• Short-term lease exemption

• IFRS low-value lease exemption

Moderator: John Bober Senior Advisor to EY Panelists: Joe Mussey Manager - Accounting Policy & Consultation, General Dynamics Mike Hutchings Managing Director, Effectus Group Shan Bhattacharya Vice President of Lease Accounting, LeaseAccelerator

Complex Use Cases Panel Pecos II

Learn some of the most challenging lease use cases, including:

• Calculating standalone observable prices for operating expenses

• Build-to-suit arrangements, subleases, and sale-leaseback transactions

• Partial terminations at mid and end of term

• Index-based rent changes under IFRS vs US GAAP

Moderator: Guy Mayberry Director of Delivery, RGP Panelists: Amie Sweeney, CPA Vice President, CBRE Corporate Capital Markets Yulia Ellison, CPA LeaseAccelerator Consultant, Vaco Bruce Conway Vice President – Lease Accounting, LeaseAccelerator

AFTERNOON BREAKOUT SESSIONS


TIME TOPIC & ROOM

PRE-ADOPTION DAY ONE

SPEAKERS TOPIC & ROOM

POST-ADOPTION DAY TWO

SPEAKERS

1:35pm

Data Abstraction & Collection Panel Pecos I

Learn best practices and the pitfalls to avoid when abstracting and collecting data, including the best approaches for:

• Identifying key data fields to be collected

• Best systems and organizations to source data

• Capturing data from foreign language contracts

• Getting reasonably certain holding period estimates

Moderator: Neal McDonald Senior Engagement Manager, Riveron Panelists: Guy Mayberry Director of Delivery, RGP Jeremy Brinkerhoff Managing Director, CFGI Joao Marques – Manager, Qiado

Embedded Leases Panel Pecos II

Learn best practices for identifying whether service contracts and outsourcing agreements meet the definition of a lease, including:

• Decision framework for identifying embedded leases

• Collaborating with procurement to identify potential candidates

• Changes to contract negotiation strategies going forward

Moderator: Bob Malinowski Senior Director – Technical Accounting and Consulting, RSM Panelists: Justin Baker Director – Technical Accounting, Charter Communications Matt Svetich Director of Technical Accounting & Business Development, Effectus Group John Kuett Vice President – Lease Accounting, LeaseAccelerator (Former IFRS 16 Lead at Nestle)


TIME TOPIC & ROOM




SPEAKERS

2:10pm

Selecting a Software Provider Panel Pecos I

Understand the key considerations for selecting a lease accounting software application that will enable you to achieve compliance by the deadline and maintain compliance on day two and beyond, including:

• A leasing subledger and accounting engine

• Lease administration versus lease accounting features

• Pros and cons of spreadsheets, real estate, ERP, and stand-alone systems

• Upgrades, testing, training, and customer support

Moderators: Troy Sheehan Management Consulting Supervisor, RSM Panelists: Felipe Nogueira Managing Partner, Qiado Jeremy Brinkerhoff Managing Director, CFGI Colleen Tigges Vice President – Solution Consulting, LeaseAccelerator

Building a Center of Excellence Panel Pecos II

A key factor of long-term success will be building a Center of Excellence to manage the record-to-report process. Understand the key considerations, including:

• Defining the scope: Lease administration or just accounting

• Interactions with regional accounting teams, Real Estate, and other business units

• Finding talent and offering career development opportunities

• Measuring performance and success with KPIs

Moderators: Scott Dunnihoo Vice President – Customer Success, LeaseAccelerator Panelists: Grace Fielding Senior Accountant, Tyson Foods Amir Aslam, CPA Senior Manager of External Reporting & Technical Accounting, Waste Management Danielle O’Brien Director of External Reporting, Teleflex Len Neuhaus PMO Lease Accounting, IFF

2:40pm

Afternoon Break

Pecos I & II


TIME TOPIC & ROOM




SPEAKERS

3:00pm

Selecting an Implementation Partner Panel Pecos I

Many companies are engaging external advisory firms to help accelerate the implementation. Learn the benefits of engaging outside help for services such as:

• Data abstraction, collection, and cleansing support

• Software selection, implementation, and testing

• Future state design of processes, policies, and controls

• Project management, communications, and training

Moderator: Juan Saudino Vice President – Partner Success, LeaseAccelerator Panelists: Jean Caldwell, CPA Senior Project Manager, Vaco Tim Tickle Director of Technical Advisory Services, RGP

International Reporting and Foreign Exchange Panel Pecos II

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

• Key differences: IFRS and US GAAP

• Demystifying foreign exchange issues

• Multi-currency reporting issues

• Working with regional auditors

• Challenges with statutory reporting

Moderator: Sean Rugers Partner – Accounting Advisory, PwC Australia Panelists: Felipe Nogueira Managing Partner, Qiado John-Michael Kretz Managing Director – Accounting Advisory Services, KPMG John Kuett Vice President – Lease Accounting, LeaseAccelerator (Former IFRS 16 Lead at Nestle)


TIME TOPIC & ROOM




SPEAKERS

3:35pm

Lessor Accounting for Lessees Presentation Pecos I

Understand the key differences between lessee and lessor accounting, then learn how to build the required competencies. Topics include:

• Data required for accounting calculations

• Lessor presentation and disclosure requirements

• Subleases and inter-company arrangements

• Tenant invoicing, receivables, and collections processing

Presenters: Chad Soares Partner, PwC Bob Malinowski Senior Director – Technical Accounting and Consulting, RSM

ROI for Centralizing Lease Management Panel Pecos II

Lease accounting can be more than a cost center and compliance burden. Understand how companies are benefiting from centralization with cost savings, such as:

• Smarter capital decisions with lease vs buy analysis

• Competitive sourcing of equipment financing

• Reduction of evergreen fees

Moderator: Tim Tickle Director of Technical Advisory Services, RGP Panelists: Skyler Ray Manager – Treasury & Leases, Tyson Foods Ingemar Lanevi VP & GM – Global Lease Sourcing Solutions, LeaseAccelerator



TUESDAY, JUNE 11TH

Open to All Summit Registrants TIME ROOM TOPIC DISCUSSION SPEAKERS 4:10pm

Brazos Ballroom

Station Casinos - Case Study Presentation

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.

Laura Knudson Director of Corporate Accounting, Station Casinos

4:45pm

Brazos Ballroom

Closing Remarks

Michael Keeler CEO, LeaseAccelerator

5:00pm

Brazos Ballroom

Afternoon Wrap Up

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

AFTERNOON GENERAL SESSION



TUESDAY, JUNE 11TH


Sponsored by:

TIME WHAT DETAILS 5:45pm

Depart for Evening Event

Board shuttles for the evening event in the historic district of the Fort Worth Stockyards about 10 minutes from the summit venue. Buses depart at 6:00pm.

6:30pm- 9:00pm

Leasapalooza

The Leasapalooza will commence with an action-packed Texas rodeo at Cowtown Coliseum followed by a chuckwagon BBQ and western hoedown festivities! Enthusiasts are encouraged to wear their best cowboy attire (no risky chaps or spurs please). For those without proper western wardrobe, casual attire is just fine as well. Of course, there will be some “swag” to up the fun! The shuttles will begin looping back to the Worthington Renaissance starting at 8:00pm with the final shuttle leaving at 10:30pm.

EVENING ACTIVITY


Documents

ENTERPRISE LEASE ACCOUNTING SUMMIT JUNE 12, 2019 · 2019-06-10 · • Subleases and inter-company arrangements • Tenant invoicing, receivables, and collections processing Presenters: