Ready or Not, Here Come the New Lease Accounting Standards
|
|
- Daisy Summers
- 6 years ago
- Views:
Transcription
1 Ready or Not, Here Come the New Lease Accounting Standards JLL Michael Billing Managing Director Global Lease Accounting Lead sig.org/summit
2 Ready or not Here come the new lease accounting standards Michael Billing Managing Director Global Lease Accounting Lead
3 About JLL Professional services firm that specializes in real estate and investment management Helps real estate owners, occupiers and investors achieve their business ambitions Fortune 500 company Revenue of $6.8 billion and fee revenue of $5.8 billion On behalf of clients, manages 4.4 billion square feet and completed sales acquisitions and finance transactions of approximately $136 billion last year Nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000 Our goal Our mission To be the first choice in corporate real estate services and outsourcing solutions Improve productivity Offer the best scalable solutions Deliver locally, regionally and globally Deliver by industry sector and service 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 3
4 Today s discussion Lease accounting changes overview Impact on real estate and equipment leases Leasing strategies Implications for procurement How to prepare 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 4
5 Poll Question How familiar are you with the lease accounting changes? What on earth are you talking about? I ve heard about the changes and know a little bit about them I know just enough to be dangerous I wrote the book on lease accounting 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 5
6 Lease accounting changes Nearly all leases go on the balance sheet as Right of Use asset and Lease Liability Operating leases reflect lease expense on a straight-line basis (US GAAP only) Finance leases reflect a frontloaded expense pattern US GAAP ASU 842 & IFRS 16 All leases not subject to exemptions are treated as finance leases under IFRS 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 6
7 Capitalization Include Fixed Payments (including In- Substance Fixed Payments) Less any Lease Incentives Variable Payments Based on Rate or Index Cost of Options & Penalties If Reasonably Certain to Exercise Initial Direct Costs* Exclude Performance/Usage Rents Non-Lease Components (e.g. Operating Expenses) Apply Discount Rate of the Lease or Incremental Borrowing Rate Present Value Right-of-Use Asset Lease Liability * Initial direct costs are included only in the determination of ROU Asset 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 7
8 IFRS U.S. GAAP Timing 2017 Comparative Period 2018 Comparative Period 2019 Effective Date Modified Retrospective Approach Restate & One-Time Equity Adjustment Restate Apply New Standard Full Retrospective Approach Restate & One-Time Equity Adjustment Restate Apply New Standard Modified Retrospective Approach No Restatement Impact on Comparative Periods Disclosed in Footnotes Apply New Standard & One-Time Equity Adjustment 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 8
9 Key decisions to be made Adoption Transition Technology When will the new standards be adopted and when do you want to be prepared? What transition expedients will be adopted? What technology will be used to facilitate the new requirements? Team Data Decisions Who will perform the lease accounting activities? Where will non-lease data come from? How should decisionmaking change? 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 9
10 Equipment vs. real estate leases Real estate leases Management is often centralized Data is often housed in databases Single lease, single asset Assets are easily validated Equipment leases Management is often decentralized Data is often housed in spreadsheets, at best Single lease, multiple assets Assets are often difficult to validate 80% of U.S. companies lease some or all of their equipment 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 10
11 Impact on decision-making Lease vs. buy strategy will change 11% Will seek shorter lease durations 17% 39% 50% No Unsure Yes 39% No Unsure Yes 44% Decision-making process will change Plan to seek more CRE leases excl. OpEx 17% 16% 28% 44% No Unsure No Unsure Yes Yes 28% 67% 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 11
12 Optimizing the outcomes Treasury Corporate Real Estate Accounting and Tax Strategic Investments Operations Credit Rating Agencies & Stock Analysts Shareholders Stakeholders Decision Objectives Satisfy Business Unit Requirements Maintain Credit Quality Maintain Maximum Operating Control Maximize Shareholder Value Earnings Per Share Benefit Minimize Balance Sheet Impact Financial Alignment and Optimization (FAO ): A consistent, systematic, consensus based decision making process for evaluating real estate financing options in ways that are meaningful to senior management, shareholders, stock analysts and credit rating agencies Jones Lang LaSalle IP, Inc. All rights reserved. 12
13 Lease vs. own factors Single vs. multi-tenant Security Ability to renovate Decision flexibility Capital redeployment Cost of capital P&L impact Continued investment Tax impact Balance sheet metrics Control Business Needs Financial Timing Ability to grow or contract Location drivers Technical specifications Rent exposure Exit strategy Future obsolescence Technology changes Risk External Factors Real estate market dynamics Capital markets Investor interest in asset type 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 13
14 Sale & leasebacks Determine whether a sale has occurred Same treatment as other leases Gains & losses recognized immediately ASC Topic 606 Existence of a Contract Control of the Asset ASC Topic 842 Lease Classification ASC Topic 606 Gain/Loss Recognition 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 14
15 Build-to-suits Topic 842 eliminates current build-to-suit guidance; now lessee deemed owner when control is gained prior to the lease commencement Control as opposed to risk Lessee degree of control during construction period Control means ownership during construction period Deemed ownership subject sale-leaseback Lessee flexibility improved Control standard less restrictive than risk standard Derecognition at lease commencement less difficult Lessee has abundance of flexibility 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 15
16 Poll Question Have you been involved in sourcing or RFP discussions about putting a lease accounting solution in place? Yes we re all over it We ve started the discussion but haven t initiated anything formal yet Not yet but it s on our radar 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 16
17 Procurement considerations Process Technology People 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 17
18 People and process considerations Variance Reports Process Forecasting Data Prepare lease accounting variance reports for approval Run month-end lease accounting process Manage forecasting (quarterly and annual) requirements Collect data required for lease accounting and input into Lease Accounting Tool Measurement & Reassessment Perform initial measurement and reassessments activities Prepare & Validate Prepare and validate cash flow and lease accounting calculations Journal entries Entries & reporting Reporting Prepare journal entries and reporting for approval 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 18
19 Technology selection considerations Integrate lease administration data into calculations Include configuration of costs & event types Permit both IFRS & US GAAP reporting for the same lease Allow for Operating vs. Finance lease classification Accommodation of real estate and equipment leases Permit input of incremental borrowing rates (IBR) rates Key lease accounting technology providers 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 19
20 Technology selection considerations (cont d) Allow data tracking where options are reasonably certain to be exercised Permit re-assessment upon triggering events Include initial direct costs, incentives, penalty & purchase costs Provide detailed financial schedules at the lease level Include security roles to segregate lease administration & accounting user activity Allow export and upload of detailed journal entries to ERP system Key lease accounting technology providers 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 20
21 Preparation plan Preparing for Day One Transition Ongoing Now Project launch & action plan development Abstract additional lease data (as required) Collect non-lease data Conduct impact assessment Implement Lease Accounting Tool Review & refine financial models Evaluate & refine current processes Evaluate & refine strategic decision making Populate Lease Accounting Tool & Test Stakeholders Run & review Day One journal entries Evaluate & refine lease structures and tenures Develop and execute change management plan Real Estate Accounting IT Tax Treasury Investor Relations Business Unit 2017 Jones Lang LaSalle IP, Inc. All rights reserved. 21
22 Questions Michael Billing Managing Director Global Lease Accounting Lead (312) Jones Lang LaSalle IP, Inc. All rights reserved. 22
23 Evaluation How-to: Why? Your feedback drives SIG Event content By signing and submitting your evaluation, you are automatically entered into a prize drawing How? Option 1: App 1. Select Schedule 2. Select Schedule by Day 3. Select Day 4. Select Session 5. Scroll to Description 6. Click on the Evaluation link Option 2: Browser 1. Go to 2. Select Session (#WS02) COMPLETE & SUBMIT EVAL
24 Workshop #2 Ready or Not, Here Come the New Lease Accounting Standards Speaker: Michael Billing Managing Director Global Lease Accounting Lead (312) Download the App: bit.ly/sigamelia Tweet: #SIGspring17
25
LEASE ACCOUNTING FOR ORACLE ERP USERS
ENTERPRISE LEASE ACCOUNTING LEASE ACCOUNTING FOR ORACLE ERP USERS MICHAEL KEELER CEO and Founder THE LEADER IN ENTERPRISE LEASE ACCOUNTING SOFTWARE www.leaseaccelerator.com ALEX KLEIN Lease Accounting
More informationTime to take action IFRS 16 Leases
Time to take action IFRS 16 Leases IFRS 16 Leases Three steps to success IFRS 16 Leases was issued by the IASB in January 2016. It will replace IAS 17 Leases for reporting periods beginning on or after
More informationNavigating the brave, new world of equipment lease management April 20, 2016
www.pwc.com Navigating the brave, new world of equipment lease management Administrative matters For better viewing experience, close all other applications For better sound quality, use headphones To
More informationIBM Planning Analytics Solution Accelerator for IFRS 16
IBM Planning Analytics June 2018 IBM Planning Analytics Solution Accelerator for IFRS 16 An application to speed and simplify lease reporting under IFRS 16 2 IBM Planning Analytics Solution Accelerator
More informationFASB & IASB Compliance Guide
FASB & IASB GUIDE - PART TWO (ASC 842/IFRS 16/AASB 16) FASB & IASB Compliance Guide Part 2: Is your Organization at Risk? TRANSFORMING THE WAY THE WORLD WORKS Contents Will your organization be at risk?
More informationWalmart s Journey to Compliance: Successful Adoption of IFRS 16 and ASC 842
Walmart s Journey to Compliance: Successful Adoption of IFRS 16 and ASC 842 4 April 2019 1:00 2:00 PM ET Speaker Shawn Husband Senior Director, Lease Center of Expertise at Walmart Shawn Husband is the
More informationEnterprise Services Sourcing:
Enterprise Services Sourcing: Revealing Integrated Strategic Solutions Duke Energy Jacob Velky Sourcing Specialist JLL John Leddy Regional Account Director www.sig.org/eval Enterprise Services Sourcing
More informationImplementation Tips for Revenue Recognition Standards. June 20, 2017
Implementation Tips for Revenue Recognition Standards June 20, 2017 Agenda Overview Journey to implement the new standard The challenge ahead Page 1 Overview Where are we now? Since the new standard was
More informationWhy Outsource Your Workforce Management Program
Why Outsource Your Workforce Management Program Real stories of Transformation Informatica Jake Agbayani Senior Strategic Sourcing Manager FIS Global David Hackney Director of Global Supply Chain Whitepaper
More informationSupplier Diversity: Aligning for Success. JLL (buy-side) Denver Clark CPO, Americas JLL. Bill Miller SVP - SCMP. sig.org/summit
Supplier Diversity: Aligning for Success JLL (buy-side) Denver Clark CPO, Americas JLL Bill Miller SVP - SCMP sig.org/summit Creating a High Performing Supplier Diversity Program Sourcing Industry Group
More informationPerspectives on Strategy
Perspectives on Strategy November 2008 135 cost savings ideas from CRE portfolio and organizational strategies to processes and tactics In 2001, Jones Lang LaSalle introduced the Financial Performance
More informationThird Party Data: A "Must-Have" Best Practice for Contingent Labor
Third Party Data: A "Must-Have" Best Practice for Contingent Labor Capgemini Michael Khadivar Global Category Director - External Resources Procurement PeopleTicker Mike Zimmer CPO Marc Wong Chief Data
More informationBreaking the Buyer-Vendor Paradigm with Supplier Advisory Councils
Breaking the Buyer-Vendor Paradigm with Supplier Advisory Councils Harvard Maintenance John Ravaris Executive Vice President JLL Denver Clark CPO Jason Linn SVP, Strategic Sourcing sig.org/eval Jason Linn
More informationUSAA's Supplier Governance Transformation that Optimizes Value and Addresses Risk
USAA's Supplier Governance Transformation that Optimizes Value and Addresses Risk USAA Glenn Ellis Director, USAA Supplier Management Enlighta Nipun Sehgal CEO www.sig.org/eval USAA s Supplier Governance
More informationTAKEAWAYS FROM THE LEASE ACCOUNTING SUMMIT
TAKEAWAYS FROM THE LEASE ACCOUNTING SUMMIT Contents Introduction... 3 Audit criteria remains a big unknown... 4 Day 1 is a moving target... 6 Hindsight is anything but 20/20... 8 Accountants experience
More informationWhat is the right path to prepare for accounting change?
What is the right path to prepare for accounting change? What you need to know: Effectively operationalizing accounting change across the enterprise The better the question. The better the answer. The
More informationContingent Workforce Management:
Contingent Workforce Management: Whose Job is it Anyway? DCR Workforce David Putt EVP Duff Hall Former Contingent Labor Category Manager at Microsoft sig.org/eval Contingent Workforce Management: Whose
More informationIFRS 15:Revenue from Contracts with Customers
IFRS 15:Revenue from Contracts with Customers By CPA Bernard Osano Insurance Regulatory Authority At the Joint IFRS Foundation, PAFA and ICPAK IFRS Conference and IFRS for SMEs Workshop Safari Park Hotel,
More informationMarket Disruptive Solutions:
Market Disruptive Solutions: Rethinking how Supply Chain Management Creates Value JLL Denver Clark Chief Procurement Officer Americas Jonathan Tucker Sr. Manager, Strategic Sourcing Yardi Mike Rooney Industry
More informationA Case Study: How Effective Risk Management Drives Global Supply Chain Optimization.
A Case Study: How Effective Risk Management Drives Global Supply Chain Optimization JLL Maureen Ehrenberg Executive Managing Director Hiperos Michele Flynn Founder & Vice Chairman DENVER FALL 2014 SU MMIT
More informationNext Generation Services Procurement
Next Generation Services Procurement Fannie Mae Rajeev Karmacharya Managing Director, Strategic Sourcing and Category Management Allegis Global Solutions Jon Kesman Director, Global Procurement sig.org/summit
More informationVendor Management Risk Mitigation:
Vendor Management Risk Mitigation: The Importance of Having a Formalized Methodology Sun Life Financial Laura Williams AVP, Procurement Opus Sam Mele Vice President Sales sig.org/summit Case Study: Supplier
More informationGuide on AASB 16 Technology solutions AASB 16 Leases
Guide on AASB 16 Technology solutions AASB 16 Leases AASB 16 Overview A quick glance at the standard What is AASB 16 Leases (AASB 16)? AASB 16 is the new leases standard and was issued by the AASB in January
More informationImplementing the New Lease Accounting Standard
Implementing the New Lease Accounting Standard Session ID#: 2017JDE-100460 Your JDE Solution Roadmap Prepared by: Chris Schmidt, Deloitte Consulting Stephen Shim, Deloitte Consulting @ DeloitteOracle #DeloitteOracle
More informationPreparing Your Company: Best Practices for the New Revenue Recognition Standards
Preparing Your Company: Best Practices for the New Revenue Recognition Standards Why are we here today? The changes to Revenue Recognition Standards will cause: Companies to put a structure in place to
More informationIBM TRIRIGA Lease Accounting Implementation Guide
IBM TRIRIGA 10.5.3 Lease Accounting Implementation Guide Initial Publication based on TRIRIGA 10.5.1 in July 2016 July 28, 2016 Updated Version after Delivery of TRIRIGA 10.5.3 in July 2017 July 28, 2017
More information2017 LeaseAccelerator Inc.
Page 1 Today s Presenters Michael Keeler CEO and Founder keeler@leaseaccelerator.com Mark Koppersmith VP, Customer Experience mkoppersmith@leaseaccelerat or.com New Lease Accounting Standards Balance Sheet
More informationThe new revenue standard
The new revenue standard Why is it so important? June 8, 2016 Agenda Overview Why should you care? The five step model Implementation challenges What should Companies be doing? Page 2 Overview Page 3 The
More informationCFO Financial Forum Webcast
CFO Financial Forum Webcast Revenue Recognition: Are you going to be left behind? April 4, 2017 With You Today Bill Tomazin Partner Tel: 312-665-5576 wtomazinjr@kpmg.com Stephen Thompson Partner Tel: 303-382-7970
More informationPublic Private Partnerships
Public Private Partnerships United States 2017 Eight crucial factors to consider before embarking on a public private partnership JLL Public Institutions Public Private Partnerships Eight crucial factors
More informationHigher Education United States. Five steps to a smooth facilities staff transition
Higher Education United States Five steps to a smooth facilities staff transition 3 Higher Education United States A college or university is more than just a place to learn it s a community of students,
More informationA Software Guy Explains How Software (Alone) Doesn't Work
A Software Guy Explains How Software (Alone) Doesn't Work Ivalua Paul Noël SVP Procurement Solutions www.sig.org/eval A Software Guy Explains How Software (Alone) Doesn't Work Paul Noël SVP Procurement
More informationWHAT DO WE LEASE? CONDUCTING AN ENTERPRISE-WIDE CENSUS. THE TEN PLACES TO LOOK TO FIND ALL OF YOUR LEASES
WHAT DO WE LEASE? CONDUCTING AN ENTERPRISE-WIDE CENSUS THE TEN PLACES TO LOOK TO FIND ALL OF YOUR LEASES How to Conduct an Enterprise-Wide Lease Census 2 WHAT DO WE LEASE? Since the publication of the
More informationEnterprise Independent Contractor Programs:
Enterprise Independent Contractor Programs: Beyond Compliance Cisco Carey Pugh Senior Compliance Manager MBO Partners Bob Lucas Senior Vice President sig.org/eval Enterprise Independent Workforce Programs:
More informationQuarterly accounting roundup: An update on important developments The Dbriefs Financial Reporting series Robert Uhl, Partner, Deloitte & Touche LLP
Quarterly accounting roundup: An update on important developments The Dbriefs Financial Reporting series Robert Uhl, Partner, Deloitte & Touche LLP Chris Chiriatti, Managing Director, Deloitte & Touche
More informationPresenter. Preparing to Adopt the New Revenue Recognition Standard. August 17, Preparing to Adopt the New Revenue Recognition Standard
Preparing to Adopt the New Revenue Paul Lundy, CPA 1 Presenter Paul Lundy Partner, Assurance Services Atlanta, Georgia paul.lundy@dhgllp.com 2 DHG Birmingham CPE Seminar 1 Objectives Describe the reasons
More informationready for change? REVENUE RECOGNITION Private Equity and their Portfolio Companies
ready for change? REVENUE RECOGNITION Private Equity and their Portfolio Companies Are you ready for principles-based revenue recognition? THE NEW GUIDANCE PROVIDES A PRINCIPLES-BASED, FIVE-STEP PROCESS
More informationDetermine Jeff Grossman Chief Operating Officer
Leverage the Power of B2B Networks and eprocurement Determine Jeff Grossman Chief Operating Officer Leverage the Power of B2B Networks and eprocurement B2B2B2B: The State of Business In 2015 it was estimated
More informationAccounting (ACCT) Courses. Accounting (ACCT) 1
Accounting (ACCT) 1 Accounting (ACCT) Courses ACCT 5001. Accounting for Managerial and Investment Analysis and Planning. 3 Credit Hours. This course presents the concepts of financial and managerial accounting
More informationGoing Green: Finding Value in Managing Your Company's Surplus Asset Stream. Puget Sound Energy Edward Wilson Supervisor, Material Purchasing
Going Green: Finding Value in Managing Your Company's Surplus Asset Stream Puget Sound Energy Edward Wilson Supervisor, Material Purchasing Pacific Exchange Group Recoveryseeker.com Jessica Jackson, President
More informationSolutions to the Affordable Care Act:
Solutions to the Affordable Care Act: What You Need to Know CenturyLink Joan Brown Associate General Counsel Synergy Services Mark Young SVP, Human Capital Management DENVER FALL 2014 SU MMIT www.sig.org/eval
More informationCurrently offered as an international partner program and open only to students affiliated with the international partner institution.
Accounting, M.S. 1 Accounting, M.S. FOX SCHOOL OF BUSINESS AND MANAGEMENT (http://www.fox.temple.edu) About the Program Currently offered as an international partner program and open only to students affiliated
More informationGlobal Communications GAAP Summit Madrid, Spain June 2014 Workshop 2: Organic growth
Global Communications GAAP Summit 2014 Madrid, Spain 23-24 Workshop 2: Organic growth After more than 10 years of deliberations the Boards have finally released the new revenue recognition standard! 2
More informationAre You Ready for Robots in Procurement?
Are You Ready for Robots in Procurement? BB&T Rohan Ranadive SVP, EVM Program Group Manager EdgeVerve Systems Limited Nitesh Banga Senior VP Client Services sig.org/summit Are you ready for Robots in Procurement?
More informationRevenue matters Is Australia ready for AASB 15?
Revenue matters Is Australia ready for AASB 15? What would your reaction be if we told you that the most important number in your financial statements was about to change and no one in your business had
More informationEY Center for Board Matters. Leading practices for audit committees
EY Center for Board Matters for audit committees As an audit committee member, your role is increasingly complex and demanding. Regulators, standard-setters and investors are pressing for more transparency
More informationA PRACTICAL GUIDE TO REVENUE RECOGNITION. How will the new requirements under ASC 606 Revenue from Contracts with Customers affect your business?
A PRACTICAL GUIDE TO REVENUE RECOGNITION How will the new requirements under ASC 606 Revenue from Contracts with Customers affect your business? FEBRUARY 2017 BACKGROUND In May of 2014, the Financial Accounting
More informationAdopt, Implement & Comply with US GAAP(ASC 606) & IFRS 15
Adopt, Implement & Comply with US GAAP(ASC 606) & IFRS 15 Agenda What is ASC 606 & IFRS 15? Business Challenges Transition Phase ASC 606 (Vs) IFRS 15 Revenue Recognition Process Case Studies Why OneGlobe?
More informationWelcome to Today s Event. Questions / Slides. Viewing Tips & CPE Credit. Who is Tensoft? Tensoft Vital Statistics
Welcome to Today s Event FASB FASB IASB IASB Exposure Exposure Draft: Draft: Revenue from Contracts with Customers An Executive Webcast With Jeffrey Werner Viewing tips & CPE credit information About the
More informationRPA Roadmap: Setting the Course for Successful Robotics Process Automation. Honda John Bookmyer Category Manager
RPA Roadmap: Setting the Course for Successful Robotics Process Automation Honda John Bookmyer Category Manager Symphony Ventures Ian Barkin Chief Strategy Officer sig.org/summit RPA Roadmap: Setting Course
More informationNew revenue guidance Implementation in the technology sector
No. US2017-08 April 25, 2017 What s inside: Overview..1 Identify the contract.2 Identify performance obligations..6 Determine transaction price 9 Allocate transaction price 12 Recognize revenue. 14 Principal
More informationREVENUE RECOGNITION: As Easy as Depreciating a Fixed Asset
REVENUE RECOGNITION: As Easy as Depreciating a Fixed Asset ASC 606 COMPLIANCE REQUIREMENTS MADE EASY BY NETSUITE S ADVANCED REVENUE MANAGEMENT AND SUITEBILLING In December of 2017, the most significant
More informationHow LeaseAccelerator Makes It Easy to Transition to the New Lease Accounting Standard On Time
How LeaseAccelerator Makes It Easy to Transition to the New Lease Accounting Standard On Time It s now official: The first deadline for transitioning to the new lease accounting standards as dictated by
More informationMarch 19, Financial Accounting Standards Board 401 Merritt Seven PO Box 5116 Norwalk, CT Attn: Technical Director
March 19, 2018 Financial Accounting Standards Board 401 Merritt Seven PO Box 5116 Norwalk, CT 06856-5116 Attn: Technical Director Re: File Reference 2018-230, Proposed Accounting Standards Update, Intangibles,
More informationStraight Away Special Edition
Straight away Special edition In transition The latest on revenue recognition implementation 19 January 2015 The new revenue standard changes on the horizon A summary of the proposed amendments At a glance
More informationA FINANCIAL CONTROLLER S GUIDE TO THE FIRST 90 DAYS OF THE PROJECT
LEASE ACCOUNTING FOR PRIVATE COMPANIES A FINANCIAL CONTROLLER S GUIDE TO THE FIRST 90 DAYS OF THE PROJECT www.leaseaccelerator.com NAVIGATING THE FIRST 90 DAYS Who Should Read this Guide This guide is
More informationLEASE ACCOUNTING COST SAVINGS 6WAYS TO REDUCE YOUR ACCOUNTING COSTS WITH 6SOFTWARE. Developed By:
LEASE ACCOUNTING COST SAVINGS 6WAYS TO REDUCE YOUR ACCOUNTING COSTS WITH 6SOFTWARE Developed By: www.leaseaccelerator.com Table of Contents Cost Savings for Lease Accounting 1 2 3 4 5 6 Data Collection
More informationStrategic Sourcing in the New Economy:
Strategic Sourcing in the New Economy: Harnessing Sourcing Business Models in Modern Procurement University of Tennessee Kate Vitasek www.sig.org/eval Sourcing Business Model Theory and Decision Tree (Practitioner
More informationA Rock Star Approach:
A Rock Star Approach: Establishing a Global Financial System for Procurement Alignment Determine David Cravens VP-Client Success Constantine Limberakis VP-Product Marketing sig.org/summit A Rock Star Approach:
More informationRevenue, Financial Instruments and Leases
www.pwc.com/my/theacademy Revenue, Financial Instruments and Leases Their rules have changed are you ready to embrace the impacts? Public Workshop 9.00 am - 5.30 pm Level 15, PwC Training Centre, 1 Sentral,
More informationThe views in this summary are not Generally Accepted Accounting Principles until a consensus is reached and it is ratified by the Board.
EITF Issue 17-A, Issue Summary No. 1, Supplement No. 3 Appendix A 1. The purpose of this appendix is to provide Task Force members with a description and analysis of Alternative B, Original Alternative
More informationNEW LEASE ACCOUNTING STANDARDS EXPERT PANEL WEBINAR
NEW LEASE ACCOUNTING STANDARDS EXPERT PANEL WEBINAR Meet Our Expert Panelists Bruce Conway Mark Koppersmith Scott Dunnihoo Vice President Operations Director Product Management Director Customer Service
More informationRevenue, Financial Instruments and Leases
www.pwc.com/my/theacademy Revenue, Financial Instruments and Leases Their rules have changed are you ready to embrace the impacts? Public Workshop 9.00 am - 5.30 pm Level 10, PwC Training Centre, 1 Sentral,
More informationDNA of Great Vendor Management:
DNA of Great Vendor Management: How to Get It Right Using Automation Ancestry Trevor Lucas Sr. Director, Partner Management Enlighta Nipun Sehgal President & CEO sig.org/eval Trevor Lucas Senior Director,
More informationThe Future of Work: Understanding and Planning for Greater Ambitions. Accenture Steven Tiell R&D Sr. Principal
The Future of Work: Understanding and Planning for Greater Ambitions Accenture Steven Tiell R&D Sr. Principal JLL Peter Miscovich Managing Director, Strategy & Innovation sig.org/summit The Future of Work
More informationready for change? REVENUE RECOGNITION Higher education
ready for change? REVENUE RECOGNITION Higher education Are you ready for principles-based revenue recognition? WITH THE NEW REVENUE RECOGNITION standard scheduled to go into effect in 2018 for public companies
More informationMARKS PANETH ACCOUNTING AND AUDITING ALERT: LONG-AWAITED FASB, IASB GUIDANCE SIGNIFICANTLY CHANGES REVENUE RECOGNITION IN FINANCIAL STATEMENTS
MARKS PANETH ACCOUNTING AND AUDITING ALERT: LONG-AWAITED FASB, IASB GUIDANCE SIGNIFICANTLY CHANGES REVENUE RECOGNITION IN FINANCIAL STATEMENTS The Financial Accounting Standards Board (FASB) and the International
More informationready for change? REVENUE RECOGNITION Health care
ready for change? REVENUE RECOGNITION Health care Are you ready for principles-based revenue recognition? WITH THE NEW REVENUE RECOGNITION standard scheduled to go into effect in 2018 for public companies
More informationSAP Lease Accounting Solution
LEASEACCELERATOR SAP Lease Accounting Solution LeaseAccelerator offers a complete lease accounting solution for companies with SAP-centric financial systems. Our application supports both the new standards
More informationRevenue revolution. What audit committees need to know about the new revenue standard. Accounting Advisory Services
Revenue revolution What audit committees need to know about the new revenue standard Accounting Advisory Services Changing your perspective If you earn revenue and apply IFRS or US GAAP, your company is
More informationRevenue, Financial Instruments and Leases
www.pwc.com/my/theacademy Revenue, Financial Instruments and Leases Their rules have changed are you ready to embrace the impacts? Public Workshop 9.00 am -5.30 pm Level 16, PwC Training Centre, Sheraton
More informationFINANCIER IFRS 16 TALKINGPOINT JUNE 2018 ISSUE R E P R I N T. REPRINTED FROM. WORLDWIDE corporatefinanceintelligence
R E P R I N T F I N A N C I E R W O R L D W I D E M A G A Z I N E TALKINGPOINT IFRS 16 REPRINTED FROM JUNE 2018 ISSUE 2018 Financier Worldwide Limited. Permission to use this reprint has been granted by
More information6/14/ :41 PM 1
6/14/2016 12:41 PM 1 My name is Neil MacDonald; I am a Solutions Consultant at Binary Stream Software, a Dynamics GP and AX ISV. I am a CPA, CMA having received my accounting designation over 20 years
More informationCorporate Reporting (UK) (P2) September 2017 to June 2018
Corporate Reporting (UK) (P2) September 2017 to June 2018 This syllabus and study guide is designed to help with planning study and to provide detailed information on what could be assessed in any examination
More informationTOPIC 606, REVENUE FROM CONTRACTS WITH CUSTOMERS
SEPTEMBER 2014 www.bdo.com THE NEWSLETTER FROM BDO S NATIONAL ASSURANCE PRACTICE TOPIC 606, REVENUE FROM CONTRACTS WITH CUSTOMERS u INTRODUCTION On May 28, 2014, the FASB issued its long-awaited standard,
More informationEnsure a Successful Transformation through Procurement Branding
Ensure a Successful Transformation through Procurement Branding GuideWell Tim Cronin Vice President & Chief Procurement Officer www.sig.org/eval ENSURE A SUCCESSFUL TRANSFORMATION THROUGH PROCUREMENT BRANDING
More informationBECKER GEARTY CONTINUING PROFESSIONAL EDUCATION
Revenue Recognition: Now Next 973.822.2220 Learning Objectives Learning Objectives: With illustrative examples and an examination of important rules and principles, participants will acquire the background
More informationWHO WE ARE. Development / Build-to-Suit. Acquisitions. Sale-Leaseback Program
WHO WE ARE Paragon is an experienced commercial real estate firm that actively develops, acquires and manages retail, industrial and healthcare properties nationwide. As a well-capitalized, privately held
More informationBank It: Optimizing the Source to Contract Process to Maximize and Lock in Savings. Cardinal Health Patrick Eckhert Head of Indirect Procurement
Bank It: Optimizing the Source to Contract Process to Maximize and Lock in Savings Cardinal Health Patrick Eckhert Head of Indirect Procurement www.sig.org/eval Bank It: Optimizing the Source to Contract
More informationIBM TRIRIGA Version 10 Release , , , and Combined Release Notes for Lease Accounting
IBM TRIRIGA Version 10 Release 10.6.0, 10.5.3.5, 10.5.3.2, and 10.5.3.1 Combined Release Notes for Accounting Note Before using this information and the product it supports, read the information in Notices
More informationEnabling Procurement Transformation and Maximizing Business Results through a Global Technology Platform
Enabling Procurement Transformation and Maximizing Business Results through a Global Technology Platform Masco Brian Smith Director, Global Supply Chain Services Ronald Dreher Manager, esourcing GEP Santosh
More informationRevenue recognition. Resource guide for private equity and their portfolio companies. plantemoran.com
Revenue recognition Resource guide for private equity and their portfolio companies plantemoran.com Contents Are you ready for principles-based revenue recognition? 1 Pre-deal considerations 2 Post-deal
More informationMarch Company Description
March 2013 Company Description Jones Lang LaSalle Global real estate services Strategic, fully integrated services for real estate owners, occupiers and investors Productivity and cost solutions for corporate
More informationImplementations. Maximizing Effectiveness in Source-to-Pay Technology. Allegis Group Daniel Gick Sr. Manager, Procurement
Maximizing Effectiveness in Source-to-Pay Technology Implementations Allegis Group Daniel Gick Sr. Manager, Procurement The Hackett Group Chetan Rangaswamy Director SIG Global Summit 2018: - Maximizing
More informationTOPIC 606, REVENUE FROM CONTRACTS WITH CUSTOMERS
MARCH 2017 www.bdo.com THE NEWSLETTER FROM BDO S NATIONAL ASSURANCE PRACTICE TOPIC 606, REVENUE FROM CONTRACTS WITH CUSTOMERS Introduction In 2014, the FASB issued its landmark standard, Revenue from Contracts
More informationRevenue Recognition: A System Perspective
Revenue Recognition: A System Perspective Implementing a Rev Rec Solution in Oracle s NetSuite Cloud ERP Max-Elie Salomon Paul Kirch Agenda Introductions and Setting the Stage Revenue Recognition: Automation
More informationEffective Cash Forecasting: Less Complicated than You Think!
Effective Cash Forecasting: Less Complicated than You Think! Presented To New York Cash Exchange June 2017 2017 Treasury Strategies, Today s Speakers Jeff Diorio Director Treasury Strategies Thomas Gavaghan
More informationWhy Businesses Love Payables Lockbox
Why Businesses Love Payables Lockbox (And Yours Should, Too!) A whitepaper examining how businesses can streamline accounts payable processing, reduce payment processing time, and lower accounts payable
More informationThe Partnership Between Procurement and Marketing:
The Partnership Between Procurement and Marketing: A Blueprint for Success NTT Security Canda Rozier Senior Vice President Global Procurement & Real Estate Jane Beazley Director, Global PR & Communications
More informationRevenue for chemical manufacturers
Revenue for chemical manufacturers The new standard s effective date is coming. US GAAP August 2017 kpmg.com/us/frv b Revenue for chemical manufacturers Revenue viewed through a new lens Again and again,
More informationPeopleSoft Lease Administration
PeopleSoft Lease Administration Oracle s PeopleSoft Lease Administration streamlines and automates site selection and acquisition, lease administration and space management. Whether your organization is
More informationKPMG s CFO. Webcast. FASB/IASB Revenue Recognition Project. Joint FASB/IASB Revenue Recognition Project Update and Discussion with FASB Staff
KPMG s CFO Financial i Forum Webcast Joint FASB/IASB Revenue Recognition Project Update and Discussion with FASB Staff February 5, 2013 FASB/IASB Revenue Recognition Project 2002 2003 2008 2009 2010 2011
More information2018 Buyer s Guide to Lease Accounting Software
2018 Buyer s Guide to Lease Accounting Software A guide to help organizations facilitate the purchase of lease accounting software for compliance with IFRS 16 and ASC 842. 1 Table of Contents Leasing Landscape
More informationCorporate Governance Principles
Corporate Governance Principles In this section, you will find more detailed explanations of James Hardie s governance principles and practices. Further information is also available from the Investor
More informationInvesting In A Total Talent Approach to Workforce Management
Investing In A Total Talent Approach to Workforce Management Premier Health Amaris McComas Director of Talent Acquisition PeopleFluent John Moore Sr. Consultant www.sig.org/eval Agenda About Premier, Inc.
More informationCash Forecasting A Free Cash Flow Perspective
Cash Forecasting A Free Cash Flow Perspective With You Today John Covey PwC, Treasury Director Naman Kuwadia PwC, Treasury Director Victor Grado HPE, VP of Treasury Objectives At the conclusion of this
More informationLeadership Opportunity
Leadership Opportunity Manager, Corporate Finance & Treasury Finance & Technology Financial Services Competition 18/139 Status Exempt Management Salary Range $104,380 - $122,800 annually (2016 rates) Review
More information