GENERAL CONFERENCE SPONSORS MOBILE APP LANYARDS BEVERAGE SLEEVES PENS MONDAY, SEPT. 17 9:00 am Early Registration 10:00 am Noon Pre-Conference Workshops CFO Roundtable Discussion Leaders: DEBORAH BRADY CFO Key Equipment Finance SHAWN HALLADAY Managing Principal The Alta Group Introduction to the Leasing and Finance Industry Introduction to the industry and products offered, why customers lease and an overview of the lease accounting rules changes and the impact to the industry. Geared to newcomers to the industry. Presenter: RODNEY W. HURD CFO Bridgeway Capital Advisors Taxation of Leases and Service Contracts DAVID BURTON Mayer Brown, LLP ISAAC SPERKA Executive Director EY JOSEPH SEBIK Director of Tax Siemens Financial Services 11:30 am - 7:30 pm General Conference Registration 1:00-2:00 pm General Session (Joint Session) Welcome JOHN BOBER Chair, ELFA Financial Accounting Committee Managing Member IXL Lease Advisory, LLC ANDREW COTTER Chair, ELFA Operations and Technology Committee EVP, Chief Information Officer Somerset Capital Group, Ltd.
State of the Association and State of the Industry RALPH PETTA President & Chief Executive Officer Equipment Leasing and Finance Association Dave Schaefer, CLFP ELFA Chairman CEO Mintaka Financial, LLC 2:00-2:15pm 2:15-3:30 pm Introduction to ASC 842 This session will provide an overview of the basic principles of ASC 842 for lessors and lessee. Topics will focus on changes to the guidance in ASC 840 and include definition of a lease, new components, gross-up of executory costs, classification, and recognition of right-of-use assets with illustrative examples. This session is geared towards newcomers to the industry and those beginning their implementation of the new standards. MAMTA SHORI Group Controller Wells Fargo Equipment Finance JOSEPH GUAGE Chief Financial Officer First American Equipment Finance, A City National Bank Company Tax Reform JOSEPH SEBIK Director Tax Reporting Siemens Financial Services DORINA MAEREAN WW IGF Technical Accounting Manager IBM Global Financing CHARLIE SHANNON Moss Adams LLP Lease or Not a Lease BRIAN WILSON Banc of America Leasing 3:30-3:45 pm 3:45-5:00 pm Firm Panel JAMES BARKER MARC JERUSALEM Director, Accounting & Consulting Services Price Waterhouse Coopers KPMG JEREMY SIMONS JOHN BOBER Managing Member IXL Lease Advisory, LLC 5:00-5:45 pm Newcomers Reception 5:30-7:30 pm Hosted Reception/ Exhibits Open Lease and Loan Sales SHAWN HALLADAY Managing Principal The Alta Group
TUESDAY, SEPT. 18 6:30-7:30 am 5K Fun Run Start the day with a little exercise and join your colleagues for a 5K fun run. 7:00-8:00 am Continental Breakfast/Exhibits Open Sponsored by 8:00 9:00 am Keynote Session (Joint Session) Rising Inflation and Interest Rates - What Does It Mean and How To Make Better Business Decisions ANDREW COTTER Chair, ELFA Operations and Technology Committee Somerset Capital Group, Ltd. SCOTT THACKER Ivory Consulting Corp. Sponsored by 9:00-9:15 am 9:15-10:15 am What s New in ASC 842? This session will update conference participants on recent and forthcoming changes to the new leases standard (ASC 842), including recently issued and proposed Accounting Standards Updates, as well as provide an update on recent interactions with the FASB and/or SEC staffs relevant to implementation of the new standard. TIM KOLBER Senior Manager AMY PARK Audit Senior Manager 10:15 11:30 am Current and Emerging Issues at the FASB This session provides participants with an update on the activities of the FASB. It will cover the Board's current agenda and emerging accounting issues of relevance to the leasing and finance industry. The session will open with an update on Topic 842, the new lease accounting standard, focusing on the questions and issues that have come to the Board's attention as companies have moved to apply its requirements. It will also cover the Board's agenda and other technical matters not covered in other sessions. JOHN BOBER Managing Member IXL Lease Advisory, LLC JAMES KROEKER Vice Chairman Financial Accounting Standards Board Noon- 1:15 pm Hosted Luncheon Sponsored by 1:15 2:15 pm SEC JENNIFER STEMBRIDGE GVP, Accounting Consultation Suntrust Bank 2:15 2:30 pm Refreshment Break/ Exhibits Open
2:30 3:45 pm Lease or Non-Lease Components: Part 1 In this two-part session, the presenters will discuss in detail the lessee and lessor requirements in the new leases standard (ASC 842) related to identifying the components of a lease contract, and then separating and allocating the consideration in the contract and variable payments to those components. The session will discuss the treatment of executory costs under ASC 842, and will address the practical expedients available to lessees and lessors related to separating lease and non-lease components. STACY KEATING MICHAEL NESTA KPMG Lease & Loan Pricing Basics This session will cover the key elements of pre-tax lease and loan pricing from the lessor perspective, including addressing the new accounting rule changes. Topics will include an introduction to lease pricing, lessor return measures, pricing policy, various pricing methodologies, and the differences between economic pricing and pricing based on accounting rules. Questions to be addressed: - What are the key concepts of lease and loan pricing? - What are the key metrics used in lease and loan pricing? CARRIE NA Head of Pricing and Portfolio Analysis SunTrust Equipment Finance & Leasing Corp. SCOTT THACKER CEO Ivory Consulting Group 3:45 4:00 pm 4:00 5:15 pm Lease or Non-Lease Components: Part 2 In this two-part session, the presenters will discuss in detail the lessee and lessor requirements in the new leases standard (ASC 842) related to identifying the components of a lease contract, and then separating and allocating the consideration in the contract and variable payments to those components. The session will discuss the treatment of executory costs under ASC 842, and will address the practical expedients available to lessees and lessors related to separating lease and non-lease components. STACY KEATING MICHAEL NESTA KPMG Hot Topics Roundtable SHAWN HALLADAY Managing Principal The Alta Group MAMTA SHORI Group Controller Wells Fargo Equipment Finance JOE GUAGE Chief Financial Officer First American Equipment Finance, a City National Bank Company
Lease & Loan Pricing Under The New Tax Laws (Advanced Topics) This session is a continuation of Lease & Loan Pricing Basics. It will cover the most often used advanced concepts in lease and loan modeling and pricing and from the lessors perspective, including the new tax laws. Topics will include all after-tax pricing methodologies, targeted returns, true leases, synthetic leases, quasi leases, renewable energy and municipal (tax-exempt) lease pricing, all as impacted by the new tax laws. Questions to be addressed: -What are the primary components of the new tax laws? -What factors need to be considered in aftertax pricing? -What are the tax laws considered in lease pricing? SCOTT THACKER CEO Ivory Consulting Corp. JOSEPH SEBIK Director Tax Reporting Siemens Financial Services 5:30-7:00 pm Hosted Reception/Exhibits Open Wednesday, Sept. 19 7:00 8:00 am Women s Council Breakfast A fantastic opportunity to meet with other women in the Finance and Leasing industry. This is a great networking breakfast and time to learn about the new initiatives ELFA is taking for Women in Leasing. All are welcome to attend. Please register for this event within your conference registration. MINDY BERMAN Managing Director JLL CANDACE REINHART, CLFP VP Operations First National Capital - An Employee Owned Company DEBORAH REUBEN, CLFP President Reuben Creative, LLC TAWNYA STONE Vice President, Strategic Technology GreatAmerica Financial Services AMIE SWEENEY Vice President CBRE Capital Markets JENNIFER MARTIN VP, Originations Key Equipment Finance 7:00-8:00 am Continental Breakfast/Exhibits Open 8:00-9:00 am General Session How Lease Accounting Changes (Topic 842) Will Impact Lessor Systems and Lessee Data Requirements (Joint Session) Only a few months remain before ASC 842 officially becomes our new lease accounting standard. How will lessor lease management systems be impacted? What additional data will lessees request from lessors? Learn which areas of ASC 842 have systems impact from a lessor perspective and how to prepare for lessee data requests for their compliance purposes. BARBARA GALAINI Chief Accounting Officer of the Americas Avolon Holdings, Limited JIM HUMPHREY Senior Vice President, Sales Odessa LEONARD LANE SVP, Product Management Odessa
JEFFREY LEZINSKI SVP Solution Architecture Odessa STEVEN NELSON SVP, Director of Operations TD Equipment Finance, Inc. MICHAEL KEELER CEO and Founder LeaseAccelerator 9:00-9:30 am 9:30-10:45 am Transition Considerations EILEEN CHAN Executive Director JEREMY SIMONS KYLE ELKEN Controller DLL Embedded Leases TIM KOLBER Senior Manager BOB MALINOWSKI Executive Director AMY PARK Audit Senior Manager IFRS 16 Comparison The Leasing project started out with the goal of convergence. However, along the way the IASB and FASB came to some different conclusions that result in challenges for preparers. This presentation will compare and contrast IFRS 16 with ASC 842, and will discuss the key aspects of the new leasing guidance, including: - definition of a lease, - separating components, - measuring consideration in the contract, - lessee and lessor accounting models, - transition approach, and - available practical expedients. LISA KAESTLE Audit-Exp Manager Grant Thornton LLP 10:45 11:00 am 11:00 am 12:15 pm CECL MARC JERUSALEM Director, Accounting & Consulting Services Price Waterhouse Coopers CHARLIE SHANNON Moss Adams LLP Preparing for 842 Audit VINCENT TESORIERO VP Controller Marlin Leasing JEREMY SIMONS
Disclosure Requirements Under ASC 842 This session will provide an overview of lessee and lessor disclosures now required under ASC 842, including required transition disclosures. We will discuss several examples as well as provide a checklist of items to consider in other sections of a company s annual report. CHRIS GALER Chief Financial Officer GE Capital MAMTA SHORI Group Controller Wells Fargo Equipment Finance