Beyond the Balance Sheet: Assessing the Impact of Proposed Changes in Lease Accounting Standards

Available on Demand

Duration: 1 hour 

Sponsored by IBM

Webcast Summary

The proposed Financial Accounting Standards Board (FASB) and International Account Standards Board (IASB) lease accounting changes are likely to take effect sometime in 2017, and this has some finance executives thinking. Many are concerned about the impacts of moving operating leases onto their balance sheets, but, according to a CFO Research study, sponsored by IBM, most large companies indicate that they are not ready yet to deal with the change.

The boards, and very few survey respondents, say the lease accounting change will provide more financial transparency, but more respondents think there will not be a positive change on anything except EBITDA. Asset leasing and real estate are central components of many companies’ financing strategies: they are used to optimize cash flow, maximize liquidity, reduce costs, and improve ROI. So this would lead an observer to think that CFOs and their teams are starting to prepare.

Yet of the 179 finance executives surveyed from companies with at least $1 billion in annual revenues, fewer than 10% said they were adequately prepared to deal with the change.

Finance chiefs say the proposed rule will effect far-reaching changes at their organizations. From training staff to altering processes to buying new technology, finance organizations should start thinking—now—about what they need to do, before the FASB/IASB rule takes effect.

During this Webcast presentation, David Owens, Editorial Director at CFO Research, and IBM will review survey findings and share with attendees:

  • What, exactly, the proposed change means;
  • What impact it will have on organizations;
  • How to get a handle on the situation—identifying the key assets and processes affected; and
  • What steps your organization should take to prepare.

About the Panelists

David W. Owens, Editorial Director, CFO ResearchDavid Owens

David W. Owens is editorial director at CFO Research. He researches and writes on a wide range of topics in corporate finance, including shareholder value, risk management, performance management, organization structure, information technology, and financial and corporate strategy. 

David has more than 25 years of experience as a researcher, editor, and writer on business, financial, and management topics. He was a key member of the writing and content development team at Mercer Management Consulting (now known as Oliver Wyman) for 18 years and led the writing and editing department for 13 years.  He is a graduate of Haverford College. David is based in Boston. 

Dave Wallace, Director of Real Estate Management, Dick's Sporting Goods, Inc. Dave Wallace

Dave Wallace has over thirteen years of experience at Dick’s Sporting Goods.  Prior to becoming Director of Real Estate Management, Dave held various finance roles, providing him with experience in general accounting, capital accounting, logistics and transportation, import finance, and SEC reporting.   In his current role, Dave leads a team responsible for lease accounting, real estate administration, and real estate finance/analysis.  Dave’s team supports Dick’s efforts to make sound real estate decisions and enforce the company's rights as provided in store leases. 

Prior to joining Dick’s, Dave spent two years with Arthur Andersen, where he earned his CPA license.  Dave is a graduate of Duquesne University and has a degree in accounting.  Dave currently resides in Pittsburgh, PA, and is a proud husband and father of two.  Dave’s involvement in youth sports, his love of golf and fly fishing, and his faithful following of all Pittsburgh sports teams embody the Dick’s Sporting Goods brand.

John Clark, Worldwide Manager, Smarter Infrastructure, IBM Corporation John Clark

John Clark has overall corporate responsibility for the formulation and implementation of IBM's integrated workplace management system marketing strategy. Prior to taking on his current role, John was the director of climate change solutions, and was responsible for the product marketing efforts of TRIRIGA's Real Estate Environmental Sustainability (TREES®) software. He brings more than 20 years of experience with software and services solutions for managing the life cycle of facility assets. Clark has a bachelor's of building science degree (B.B.Sc) from Victoria University of Wellington.

About the Moderator

Katherine Teitler, Senior Editor, CFO Research and Custom Publishing Katherine Teitler

Katherine Teitler is a senior editor in the research and custom-publishing group at CFO Publishing. In that capacity, Katherine researches, writes, and manages content development for CFO Research and CFO Webcasts.

Prior to joining CFO Publishing, Katherine served as the director of content for an information-security research firm, where she researched, wrote, and edited pieces on the full spectrum of information-security topics and managed the firm's faculty of expert contributors. In addition, Katherine has more than 16 years of experience in business development for a distinguished roster of research firms. She is a graduate of the University of Minnesota and of the University of Rochester. Katherine is based in Boston.

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