The Equipment Leasing and Finance Association will hold a web seminar, “Changes in Lease Accounting: Analysis and Implications for Your Business,” on Thursday, June 27, 12:30pm-2pm ET. The web seminar will analyze the lease accounting Exposure Draft released on May 16 and provide tips for submitting an effective comment letter by the Sept. 13 deadline. ELFA is encouraging all lessees, lessors and other stakeholders to participate.

The event is free for  ELFA members and their customers who use the discount code edfreeweb at checkout (others pay $99). To register and enter the discount code, visit http://www.bna.com/changes-lease-accounting-w17179874054/.  

On May 16, 2013, the Financial Accounting Standards Board and the International Accounting Standards Board 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.

ELFA’s June 27 web seminar will analyze the lease accounting proposal and its potential impact on businesses, equipment sectors and structures; implications for lessee and lessor accounting; how the proposed rule changes may lead to unexpected financial results; guidance on writing meaningful comment letters to FASB and IASB; and insights in to how companies can prepare now for the coming change.

Speakers will include Bill Bosco of the Lease Accounting Project Working Group; John Bober of GE Energy Financial Services; Betty Davis of Ernst & Young and Ralph Petta of ELFA.

How to Register:

As a member benefit, ELFA is offering complimentary registration for members and their customers. For more information and to register, follow these steps.

1. Go to the registration page at http://www.bna.com/changes-lease-accounting-w17179874054/.  The default price of $99 for Webinar Only will appear in the drop-down menu.
2. Select "Add to Cart."
3. Select the "New Visitors Register Today" option and follow the prompts to complete your registration information.
4. You will be prompted for a promotional code while registering. Enter EDFREEWEB, then select "Apply Code." This will nullify any charge in the shopping basket.
5. A registration confirmation and information for joining the Web seminar will be provided in a follow-up e-mail.

The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $725 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its more than 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. ELFA has been equipping business for success for more than 50 years.