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Aviation Finance Finuas Network

 We are pleased to be able to offer a limited number of free places for jobseekers on our network programmes subject to funding being available

Please click on the following link to check if you meet Jobseekers eligibility criteria;

 

DATE: Thursday 25th June

TRAINER:  Trainer is Sean Milton

COST: €475 per participant

LOCATION: The Spencer Hotel Dublin

 

9am – 9.45am Introduction

-        Brief introduction to course leader

-        Brief discussion on aircraft leasing industry ; key issues / risks today

-        Brief discussion on consequent critical accounting topics / issues today and highlight which aspects we will cover

 

9.45am – 11.30am Fixed Asset Accounting (i.e. aircraft for this industry)

-        Acquisition accounting (fair value, business combination)

-        Lease accounting (operating versus finance leases)

-        Discussions  around depreciation profiles, useful economic lives, residual values

-        Discussions on aircraft appraisals (diversity, application, pros and cons)

-        Other issues to consider (maintenance accounting policy and how that interfaces with assets values)

-        Diversity of treatment (overview and discussion of asset accounting by public and other lessors)

 

11.30-11.45 Coffee break 

 

11.45 – 1.30pm Impairment

-        Brief overview of IFRS impairment provisions

-        General approach to impairment by lessors (frequency of testing, initial assessment (Step 1), detailed cash flow testing (Step 2 if necessary))

-        Discussion on most significant issues and their implications (e.g. market / aircraft / transaction related issues, use and application of appraisals, estimating cash flows, discount rates, maintenance cash flows)

-        Brief discussion on IFRS v US GAAP and the implications

-        Overview and discussion of recent impairments in the sector

 

1.30 – 2.30pm Lunch

 

2.30 – 4.00pm Maintenance Accounting

-        Background to maintenance reserves (what are they, why we need them, touch on dynamics of negotiation, pricing, credit related, economic benefit)

-        Genesis of maintenance accounting (e.g. airline guide, different potential accounting treatments, US GAAP v IFRS, application in the current market across the lessor community)

-        Issues when considering maintenance accounting policies (pros and cons, revenue recognition, income statement comparison, overall asset / balance sheet values (link with asset accounting and impairment), tracking asset or lease lives, anomalies (e.g. income bump on default), lessor contributions)

-        Overview and discussion of treatment within the sector

 

4.00- 4.15pm Coffee

 

4.15-5.00pm Proposed Lease Accounting changes

-        Summary of why potential changes arose and the current status and timing of the project

-        Broad based discussion around the likely lessor accounting implications (income statement and balance sheet implications, transition accounting, impairment implications, financial assets etc)

 

5.00-5.30pm Q&A / Wrap-up

 

Other potential topics that may be of interest

-        Running a successful aircraft leasing Finance department

-        Improving how Finance support the Board / Audit Committee / Business (frequency, consistency, charters, information preparation and timing, improving management packs and other key information, metric reporting and assessment)

-        The internal control environment (rolling out, improving, documenting, adhering to a right-sized control environment and the benefits thereof)

-        Key metric analysis (consideration of pricing, financial and operational metrics, the understanding, assessment and reporting of same (pros / cons)

-        Peer group reviews

 

Skillnets funded from the National Training Fund through the Department of Education and Skills

The Aviation Finance Finuas Network is funded by member companies and the Finuas Networks Programme, an initiative of Skillnets funded from the National Training Fund through the Department of Education and Skills.

Click here for Finuas Network website www.finuas.ie

 


 

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