Financial Insights: GAAP's New Accounting Principles
A frequent speaker, instructor, advisor and writer on credit risk and commercial banking topics and issues, Dev is principal of Devon Risk Advisory Group and engages in consulting, speaking and training on a wide range of risk, credit, and lending topics. As former SVP and senior credit policy officer at SunTrust Bank, Atlanta, he was responsible for developing, implementing, and administering credit policies for SunTrust's wholesale lines of business--commercial, commercial real estate, corporate investment banking, capital markets, business banking and private wealth management. He also spent three years as managing director and credit approver in SunTrust's Florida commercial lending and corporate investment banking areas, respectively. Prior to SunTrust, Dev was chief credit officer for Barnett Bank's Palm Beach market. Besides stints at other banks in Florida, Kansas City, and Ohio, Dev's experiences outside of banking include CFO of a Honolulu construction company, combat engineer officer in the U.S. Army, and college economics instructor in Hawaii, Missouri, and Florida. A graduate of Ohio State University and the ABA Stonier Graduate School of Banking, he earned his M.B.A. from the University of Hawaii.
Dev serves as an instructor in the Stonier Graduate School of Banking, the Southwestern Graduate School of Banking, and the American Bankers Association's (ABA) Commercial Lending. His school, conference, and workshop audiences have included participants drawn from the ABA, RMA, OCC, Federal Reserve, FDIC, FFIEC, SBA, the Institute of Management Accountants (IMA) and the AICPA.
Dev has written about credit risk management, financial analysis and related subjects for the Risk Management Association's RMA Journal, and other business professional journals. He is the author of Analyzing Construction Contractors and its related RMA workshop. A past national chair of RMA and former Florida Chapter president, Dev serves as a member of the RMA Journal's advisory board, and he also serves on the advisory board of the Atlanta Chapter of the Professional Risk Managers' International Association (PRMIA), and he has consulted on credit risk issues with banks in Morocco, Egypt, and Angola through the US State Department's Financial Service Volunteer Corps (FSVC). He also served on the Private Company Council (PCC) of the Financial Accounting Standards Board (FASB); the PCC reviews current and proposed generally accepted principles (GAAP) and recommends revisions that simplify their use for privately held organizations.
In today's ever-evolving financial landscape, staying up-to-date with accounting principles is essential. Join our insightful webinar, "Mastering GAAP: Navigating New Accounting Principles and Their Impact on Borrower Financials" to demystify recent changes in accounting standards and understand their repercussions for both borrowers and lenders.
Key Takeaways:
- Background of FASB and IASB Accounting Convergence: Delve into the journey of convergence between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB). Uncover the nuances of the progress made, lingering differences, and their implications.
- Revenue Recognition: Explore the new principles of revenue recognition, where the seller recognizes revenue when the buyer takes possession of a good or service. Understand the impact of this change on financials, with a focus on earlier recognition and gross revenues.
- Lease Capitalization: Examine the closing of the off-balance-sheet loophole through the capitalization of both operating and financing leases. Discover how this affects balance sheets, leverage ratios, return on asset ratios, and cash flows.
- CECL (Current Expected Credit Losses): Say goodbye to the incurred loss model and welcome the new approach of loss recognition over the life of the loan. Uncover the implications of CECL, including a higher probability of default and its financial impact on borrowers.
- Not-for-Profits: Understand the simplification of balance sheets and the increased disclosure of liquidity for not-for-profit organizations. Gain insights into the changes shaping this segment of the American economy.
Course Level - Basic/Fundamental
Who Should Attend
- Commercial Bankers
- Commercial Real Estate Lenders
- Credit Analysts
- Credit Department Staff
- Loan Underwriters
- Loan Review Officers
- Credit Department Managers
- Senior Lenders
- Chief Credit Officers
Why Should You Attend
Accounting principles are the cornerstone of financial analysis, and staying informed about changes is paramount. New accounting standards, resulting from collaboration between FASB and IASB, are designed to bridge the gap between US and international accounting principles. By attending this webinar, you'll gain a comprehensive understanding of these principles, their impact on borrowers and lenders, and how to navigate the evolving financial landscape. Don't miss this opportunity to master GAAP and stay ahead in the world of finance.
Topic Background
GAAP principles are the bedrock of financial reporting, but they do evolve over time. Recent changes are a result of the FASB and IASB collaboration to bring US and international accounting principles closer together. This webinar explores new GAAP standards, including revenue recognition, lease capitalization, CECL, and not-for-profit financial changes, shedding light on how they shape the financial world for both borrowers and lenders. Join us to stay informed and make educated financial decisions in a changing landscape.
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$200.00
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