This webinar is co-sponsored by the Equipment Leasing and Finance Association (ELFA). Independent research indicates that almost three-quarters of U.S. businesses utilize lease financing to acquire capital equipment. On May 16, 2013, the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) released a long-awaited exposure draft of their joint project to revise and converge worldwide the lease accounting standard. This proposal, which will require almost all leases to be brought on balance sheet, is the result of re-deliberations by the Boards following issuance of the first exposure draft in August 2010. The proposed guidance could significantly change the way some businesses account for their lease obligations. During this live web seminar, Bosco, Bober, Davis and Petta will discuss:
Educational Objectives
Who Should Attend:
Specific Industries impacted:
Prerequisite: NoneLevel: Intermediate to AdvancedDelivery method: Group Interactive LiveRecommended CPE credit: 1.5 creditsAttendees are encouraged to submit their questions in advance. Submit your questions to: rpetta@elfaonline.org. Time will be reserved to address all submitted questions.
Bill Bosco, Lease Accounting Project Working Group; John Bober, GE Energy Financial Services; Betty Davis, Ernst & Young; and Ralph Petta, Equipment Leasing and Finance Association
Bill Bosco, a member of the Lease Accounting Project Working Group (selected by the FASB/IASB), is a consultant specializing in the equipment leasing industry. Bill has over 36 years’ experience in the leasing business with CitiCapital, Sumitomo Bank Leasing and as a consultant. His responsibilities included designing, developing and promoting new products, providing advice to solve issues in meeting customer needs in transactions with accounting, tax and structural complexities. Bill also has extensive experience in lease accounting, pricing and training. He is a frequent speaker and author of articles on leasing issues. Bill has served on the Equipment Leasing and Finance Association (ELFA) Financial Accounting Committee for the last 22 years, 10 of which as the Chairman. John Bober, Managing Director of Structuring at GE Energy Financial Services, is responsible for the financial structuring of equity and debt investments, project financings, partnerships, and large ticket leases, including lease pricing. He is currently seconded to the General Electric Company to manage matters related to the FASB-IASB’s lease accounting project. He has been active in the accounting standards setting process, having served on EITF and AcSEC working groups. He is a member of the joint FASB and IASB international working group on lease accounting. Prior to joining GE, John was a partner with an international accounting firm, based in Jakarta, Indonesia and New York. He frequently speaks at industry conferences on matters related to current developments in finance and accounting. John has a B.A. in History from Tulane University. He is also an M.P.A. from the University of Texas at Austin and is a member of the McCombs School of Business BBA-MPA Alumni Advisory Board and the Department of Accounting Advisory Council.Betty Davis is a partner in Ernst & Young’s On-Call Advisory Services practice and has over 25 years experience in lease accounting, both as a lessor in industry and as an accounting advisor at E&Y. She serves on the Lease Accounting Committee of the Equipment Leasing and Financing Association and is a frequent speaker on lease accounting matters. She is a Certified Public Accountant in the District of Columbia and Maryland and is a member of the American Institute and Maryland Association of CPAs. She graduated from the University of Maryland in 1980 with a B.S. in Accounting.
Ralph Petta, Equipment Leasing and Finance Association.