Pete Barbera, Director, Valuation and Financial Risk Management Practice, Navigant to Speak at KCís Emerging Issues on Type A and Type B Leases: What You Need to Know
New York, NY, December 20, 2013 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Pete Barbera, Director, Valuation and Financial Risk Management Practice, Navigant will speak at the Knowledge Congress’ webcast entitled: “Emerging Issues on Type A and Type B Leases: What You Need to Know.” This event is scheduled for Thursday, April 24, 2014 @ 10:00 am - 12:00 pm (ET).
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About Pete Barbera
Pete Barbera is a Director in Navigant’s Valuation and Financial Risk Management Practice in Washington D.C. Mr. Barbera has approximately 20 years of experience including time spent in both the private and public sectors and has extensive experience in all aspects of accounting operations and policy. While at Navigant he has provided accounting advisory assistance to numerous clients with a focus on debt, derivatives, leases, loans, securitizations, consolidation and investment accounting.
Prior to joining Navigant, Mr. Barbera was the Director of Derivatives Accounting at Fannie Mae, responsible for the accounting, financial reporting and Sarbanes-Oxley compliance of the Company’s derivative position which approximated $1 trillion in notional amount. Prior to Fannie Mae, Mr. Barbera was a member of the Consumer Finance Group at PricewaterhouseCoopers, LLP where he performed various audit and business advisory services for large financial service companies.
Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
The Financial Accounting Standards Board (FASB) and The International Accounting Standards Board (IASB) issued a joint proposal that may significantly alter how companies approach accounting for leases. The proposal is a key step in the IASB’s and FASB’s joint efforts to converge their accounting standards relating to leases and aims to mandate a dual approach to recognition, measurement, and presentation of cash flows and expenses for lessees in leases that last longer than one year.
Comments on the proposed ASU were due by September 13, 2013 with the FASB and IASB set to begin re-deliberations in the first quarter of 2014. As evidenced by 600+ comment letters being submitted, this proposal and the ultimate regulatory activity produced will no doubt represent challenges to adopters while impacting all facets of financial reporting. In addition, the proposed treatment of leases will have ripple effects throughout the organization including data capture, systems, lease vs. buy decisions, contract management, tax and human resources. With proposed transition requirements possibly impacting the financial reporting of the earliest comparative period presented, companies should be currently evaluating the impact of the proposed guidance.
In this 2-hour live webcast, a panel of key thought leaders organized by The Knowledge Group will provide an overview to help you understand the critical elements of the proposal and its potential effects on companies’ leasing accounting practices.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: www.knowledgecongress.org.