Alta: Accounting for Residual Write-Downs at Equip Management Conference

Shawn Halladay, The Alta Group’s director of professional development, will be one of the presenters at the Equipment Management Conference in St. Petersburg, FL later this month. He will discuss best practices in the accounting process of residual write-downs.

According to Halladay, more equipment lessors have been experiencing write-downs over the past several years. His presentation will provide equipment managers with insight and ways to collaborate with accounting teams for more effective residual impairment processes.

“The recent residual write-downs have been a combination of regulatory change and the move away from coal in railcars, design and functionality changes in aircraft and, to some extent, companies’ lack of understanding of the differences between operating lease and direct financing lease impairment methodologies,” said Halladay. “I will examine the lease accounting rules (current and prospective) related to residual impairments, the audit requirements for residual reviews, and the critical role that asset managers play in this process.”

In addition, he plans to discuss the impact of the new CECL rules and the new tax bill on asset management. CECL, or current expected credit loss, is a new accounting standard that will change how financial institutions account for expected credit losses.

Carl Chrappa, the leader of Alta’s asset management practice — well known for his annual “What’s Hot, What’s Not” reports — will introduce Halladay at this Equipment Leasing and Finance Association (ELFA) conference, which will be held from February 25 through February 27.

Kim Esposito, a director in Alta’s asset management practice and a member of the ELFA equipment management steering committee, is scheduled to moderate the medical sector panel featuring speakers from Equipment Placement Services and Nationwide Imaging Services.

She also will provide an off-site tour of the storage yard of a Caterpillar dealer. This will give attendees an opportunity to see the very latest in construction equipment.

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