Date: 27th April 2017
Location: The Morgan Hotel | 10 Fleet Street | Dublin 2 |
To provide context, ensure that all participants have a good understanding of
(i) Industry characteristics of aircraft leasing including:
Dynamics impacting growth in the market, including: where is aircraft leasing in its current boom/bust cycle (considering load factors, utilization rates, travel demand and capacity, lease and value rates, obsolescence)
Where are we today in the Economic Cycle including reference to : Current orderbook/backlog, Airline solvency (Cape Town Convention), Asset types/pricing, Returns on equity
Constraints on Capital including introduction to overview of orderbook/Refinancing, Export credit pricing, Bank capacity and Capital market access
the main accounting concepts underlying accounting for aircraft leasing included, but not limited to US GAAP, IFRS and main differences between these bases.
Ensure that all participants, assuming varying levels of knowledge prior to attendance at the course, gain either (i) additional understanding and knowledge from the course or (ii) gain an overall understanding of critical aircraft leasing related topics including:
Main US GAAP and IRFS accounting pronouncements and regulations impacting both lessors and lessees;
Through provision of worked examples, provide participants with simple examples of accounting issues; and
Future direction for key accounting issues including revenue accounting
A number of key topics and concepts will be presented covering both U.S. GAAP and IFRS treatment including:
Acquisitions (asset or business combination)
Fair Value of balance Sheet including Financial and Non-Financial assets
Impairment, depreciation, residual values, aircraft appraisal, amortization of lease and aircraft related assets
Capital and Operating Leases
Other topics include introduction to: debt related issuance costs, interest rate hedges, deferred income tax, and foreign exchange.
Participants have ranged from (i) those in employment and (ii) those seeking employment. Attendees may have had prior aircraft leasing accounting experience.
Areas from which participants in employment have previously attended include: audit staff working on aircraft related clients, financial staff in aircraft leasing companies, financial staff (accountant, assistant accountant level) in aircraft leasing groups, staff from investment banks, staff from outsourced service companies.Example of backgrounds from which those seeking employment are diverse and include: legal, aircraft maintenance, taxation, and treasury.
Training Company Name and Website
Trainer Profile Qualification & Relevant Experience
Previously held Chief Accounting Officer roles for global Aircraft Leasing groups in both U.S. public and other private sectors. Main responsibilities were all financial aspects including statutory reporting (U.S. GAAP, IFRS), detailed accounting memoranda for complex transactions, correspondence with U.S. Securities and Exchange Commission (“SEC”) on accounting treatment; submission of public financial filings to the SEC, structuring the necessary Irish tax resident regime (corporation, Income, VAT, Capital), material transaction support, designing business and entity level processes for all significant areas of activity (acquisition and disposal, leasing, debt etc) and driving Management’s self-assessment for the U.S. led Sarbanes Oxley Act 2002, (Sections 302/906/404) “Internal Controls over Financial Reporting”;
Project management role with a major Aviation Related and Property Asset Management Group in the Mid-West Region including restructuring and re-organization.
Presented at five Finuas Aircraft Leasing Accounting Seminars (4) in Ireland attended by over c. 90 candidates.
Non -Aviation related
Held senior financial roles including two years as Chief Accounting Officer role for U.S. publicly listed global online recruitment and marketing group and c. 13 years in global soft commodity trading group in both London, Hamburg and New York.
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