EVENTS Lease Accounting Takes Center Stage EASE ACCOUNTING was front and center at the Lease and Finance Accountants Conference in Philadelphia last month as the industry awaits the new Leases standard, expected in late 2015 or early 2016. The event provided an opportunity for attendees to ask questions regarding the new standard and share feedback directly with representatives from the FASB and IASB. Attendees also got up-to-speed on other accounting and financial reporting issues affecting the equipment finance sector, including the new revenue recognition standard, bundled contract considerations and much more. Materials from the Conference are available through the ELFA Conference Resource Center at www.elfaonline.org/Events/?fa=crc . For more on the new lease accounting standard, see p. 52. ■ L Gary Kabureck of the IASB, Thomas Linsmeier of the FASB and ELFA Financial Accounting Committee Chair John Bober of GE Capital. ELFA member Rod Hurd queried the FASB and IASB representatives about the proposed lease accounting standard. President & CEO Woody Sutton and Chairman Bob Rinaldi reported on the state of the association and the state of the industry. Sutton also delivered a keynote on “Dealing with Change or Changing the Deal.” A session on revenue recognition. The Financial Accounting Committee met before the Conference. 14 OCTOBER 2015 EQUIPMENT LEASING & FINANCE MAGAZINE