This event has been canceled.
Prepare: The Future is Here
ASC 842 Lease Accounting Changes &
Changes in LIBOR Financing Index
Wednesday, October 21, 2020
7:30 am - 9:00 am
Join your fellow financial and accounting executives in a highly interactive session regarding two significant and relevant topics. You will hear lots of practical examples from a financial advisory perspective, accounting perspective, and mid-market banking perspective.
Our first meeting with new Finance Subgroup Vice-Chairs, longtime Beacon members Fred Kaplan and Avee Poston.
ASC 843 Lease Accounting Changes
New lease accounting rules are shaking up corporate balance sheets. Learn what you need to know to handle these changes with skill and foresight.
- What is debt or “debt-like”, a “right-of-use asset” and a “lease liability”?
- Footnote disclosure changes.
- Impact on Debt covenants.
- Why landlords are pushing away from long-term leases.
- How the rules effect real estate investors.
- Impact on historical financial ratios and how they will be considered.
Goodbye LIBOR, Hello SOFR
If you have an adjustable-rate mortgage, a home equity line of credit or a reverse mortgage, it’s time to check with your servicer about how your rate may be affected.
- Why are banks moving away from LIBOR? Are they ready?
- What will happen with existing debt that contains a LIBOR index?
- On what basis will new debt rates be pegged?
- How will the change impact corporate debt covenant compliance and financial reporting?
- What key issues need to be handled to avoid pitfalls?
Mike Ohrnstein, Managing Director, Accounting Advisory Services, Ernst & Young, LLP
Mike is a Managing Director in Financial Accounting Advisory Services (FAAS) based in Raleigh, North Carolina. He has over 12 years of experience providing accounting advisory services and focuses on technical accounting matters related to derivatives & hedging, financing activities, and financial instruments across all sectors.
He leads a team of dedicated specialists who assist internal and external clients in the context of advisory, internal audit, transaction due diligence, and financial statement audit engagements. His skillset includes a thorough understanding of corporate and financial institutions’ risk management objectives and financing strategies.
Dane Yoder, Senior Manager, Assurance, Ernst & Young, LLP
Dane is an Assurance Senior Manager. He works collaboratively with global companies through complex and challenging business and accounting changes including transformation through M&A activity, leadership changes, adoption of new significant account standards and refresh of the internal control structure
Dane serves in EY’s National Professional Practice group working with teams to solve complex accounting and SEC reporting questions, and assisting companies understanding new or emerging areas of accounting guidance
Leads coordination across tax and IT service lines on multiple clients to ensure a highly integrated and customized audit approach for each client.
Matt Cole, Vice President of Mid-Market Lending, Citizens Bank
Matthew Cole is a Vice President and Relationship Manager for the Greater Philadelphia Middle Market Team. He earned his bachelor’s degree in economics from Johns Hopkins University, with a minor focused in Finance and Accounting. Matt began his career at PNC Bank where he gained experience working in both Credit & Sales Roles, before joining Citizens Bank in 2015. In addition to his role with the RPG, Matt is member of the Rising Leaders Committee for Project Home - a Philadelphia-based not-for-profit- and is an active member of the Association for Corporate Growth- on the Young Dealmakers Committee- and Commercial Finance Association.
Free for members
We invite guests to attend the many informational webinars on our robust calendar of events.
Guests/non-members receive their first 3 webinars for free, each webinar thereafter is $15.
To utilize one of your complimentary webinar passes, please contact the Beacon office at 215-393-3144 or email firstname.lastname@example.org