Accounting for an Ever-Changing World

New York, NY 11/2/2022 to 11/4/2022

Wednesday, November 2, 2022
DATE TIME DESCRIPTION
Wednesday
11/2/2022		 8:00 am - 8:50 am Registration
  8:50 am - 9:00 am Welcome
Christine Botosan, FASB Board Member
W. Robert Knechel, Frederick E. Fisher Eminent Scholar in Accounting and Distinguished Professor, University of Florida and The Accounting Review Senior Editor
Ann Tarca, IASB Board Member
  9:00 am - 10:00 am Fireside Chat
 Accounting 1.2 CH
Host: Mary E. Barth, Joan E. Horngren Professor of Accounting, Emerita, Stanford Graduate School of Business
Assistant: Cassie Mangold, FASB Post-Doctoral Fellow

Rich Jones FASB Chair
Andreas Barckow IASB Chair
  10:00 am - 10:30 am AM Break
  10:30 am - 12:00 pm Panel #1 Revenue
Accounting 1.8 CH
Moderator: Jeff Wilks, Brigham Young University
Assistant: Mary Mazzella, FASB technical staff
Panelists:

 
  12:00 pm - 1:00 pm Lunch
  1:00 pm - 3:00 pm Research Paper Presentations #1
Accounting 2.4 CH
Chair: Anna Simpson

Paper #1: Impact of IFRS 15 Revenue from Contracts with Customers on the Construction Industry: Lenka Krupova, Anglia Ruskin University

Paper #2: Principal-versus-Agent Considerations in Revenue Recognition: Kai Du, The Pennsylvania State University
Academic Discussant: Elizabeth Blankespoor, University of Washington
Standard Setter Discussant: Jelena Voilo, IASB technical staff
  3:00 pm - 3:30 pm PM Break
  3:30 pm - 5:30 pm Research Paper Presentations #2
Accounting 2.4 CH
Chair: Christine Botosan

Paper #3: The Decision-Usefulness of ASC 606 Revenue Disaggregation: Mark Zakota, University of Florida

Paper #4: The Effects of ASC 606 Retrospective Adoption on a Firm’s Information Environment: Petrus Hendrik Ferreira, Rice University
Academic Discussant: Stephen Stubben, University of Utah
Standard Setter Discussant: Mary Mazzella, FASB technical staff
  5:30 pm - 6:30 pm Light Reception
Thursday, November 3, 2022
DATE TIME DESCRIPTION
Thursday
11/3/2022		 8:00 am - 10:00 am

Leases Research Paper Presentations #1
Accounting 2.4 CH
Chair: Anne McGeachin

Paper #1: Leasing loses altitude while ownership takes off: Real effects of the new lease standard: Bin Li, University of Houston

Paper #2: Economic Consequences of the New Accounting Standards on Leases: Raquel Sarquis, University of São Paulo
Academic Discussant: Brian Bratten, University of Kentucky
Standard Setter Discussant: Ann Tarca, IASB Board Member
  10:00 am - 10:30 am AM Break
  10:30 am - 12:00 pm Lease Panel
Accounting 1.8 CH
Moderator: Robert Lipe, Ph.D., Associate Dean of the Professional MBA, University of South Carolina, Darla Moore School of Business
Assistant: Alicia Manders, FASB Technical Staff

Panelists:
  • Sue Harding, Independent Company Reporting and Governance Analyst, Harding Analysis
  • Shawn Husband, Senior Director, Global Lease Center of Expertise, Walmart
  • Sandra Melocik, Exxon Mobil GPF
  • Scott A. Muir, KPMG
  12:00 pm - 1:00 pm Lunch with Guest Speaker Paul Munter
Accounting 1.0 CH
Introduction: Christine Botosan, FASB Board Member

Adapting to a Rapidly Evolving World: Implications for Standard Setting and Regulation
Speaker: Paul Munter, Acting Chief Accountant, SEC
  1:00 pm - 3:00 pm

Leases Research Paper Presentations #2
Accounting 2.4 CH
Chair: Hillary Salo

Paper #3: Reporting Incentives and Consequences of Lease Accounting Standards: Derek Christensen, University of Wisconsin-Madison

Paper #4: Variable Leases under ASC 842:First Evidence on Properties and Consequences: Jonas Heese, Harvard University
Academic Discussant: Wayne Thomas, The University of Oklahoma, Price College of Business
Standard Setter Discussant: Alicia Manders, FASB Techical Staff
  3:00 pm - 3:30 pm PM Break
  3:30 pm - 5:00 pm

Financial Instrument Research Paper Presentations #1
Accounting 1.8 CH
Chair: Ann Tarca

Expected Losses, Unexpected Costs? Evidence from SME Credit Access under IFRS 9: Aytekin Ertan, London Business School
Academic Discussant: Scott Liao, University of Toronto
Standard Setter Discussant: Zach Gast, IASB Member
  5:00 pm - 6:00 pm Light Reception
Friday, November 4, 2022
DATE TIME DESCRIPTION
Friday
11/4/2022		 9:00 am - 10:30 am

Financial Instruments Panel
Accounting 1.8 CH
Moderator: Leslie Hodder, Indiana University
Assistant: Alex Casas, FASB Technical Staff
Panelists:

  • Chris Ackerlund, Head of Accounting Policy, Bank of America
  • Lisa Bomba, Managing Director & Head of Group Financials at Deutsche Bank
  • Graham Dyer, Partner, Accounting Principles Group, Grant Thornton
  • Osman Sattar, Director and Accounting Specialist, EMEA Financial Institutions Ratings, S&P Global Ratings
  10:30 am - 11:00 am Break
  11:00 am - 12:30 pm

Financial Instrument Research Paper Presentation #2
Accounting 1.8 CH
Chair: Nellie Debbeler

Paper #2: Current Expected Credit Losses (CECL) Standard and Banks’ Information Production: Sehwa Kim, Columbia Business School
Academic Discussant: Kurt Gee, The Pennsylvania State University, Smeal College of Business
Standard Setter Discussant: Alex Casas, FASB Technical Staff
  12:30 pm - 12:45 pm Conclusion

Panel Sessions:    Panel sessions will discuss the impact of adoption of FASB and IASB accounting standards for revenue, leases and financial instruments. Panellists are practitioners with experience as preparers, auditors and investors.

Research Paper Sessions:    Authors will present academic papers on the impact of adoption of accounting standards for revenue, leases and financial instruments. The presentations will be followed by commentary by an academic and a standard setter and Q&A.