The Lease & Finance Accountants Conference was held Sept. 10–12 at the new Embassy Suites hotel in downtown Nashville, TN, as well as virtually, attracting more than 150 participants.
When including joint forums with the Operations & Technology Conference (OTC), which was held concurrently, the event included over 320 attendees with a multitude of different sessions, providing the latest information and trends on accounting, finance, financial reporting and the economy. In addition, attendees had access to a myriad of technology-related sessions as part of the OTC at no extra cost.
The program also included multiple networking events, including lunch on Tuesday, breakfast on both Tuesday and Wednesday, receptions each night, a group dinner event option on Sunday evening, and a 5K fun run/walk.
Collaborative Event
It is said that the greatest power of music is that it brings people together. The energy of Nashville, TN—the heart of music city—provided an ideal setting for the two conferences, where attendees convened to connect, listen, learn and hone our skills for ourselves, the companies we represent and the industry at large. The joint conferences recognize and celebrate collaboration and encourage working together efficiently to help companies make informed decisions in the pursuit of success.
Industry organizations not only seek to train their constituents in the current base knowledge but also to prepare them for the future. We tried to do just that at this conference. Technology will continue to automate many of the routine tasks of the past and empower finance professionals to become more efficient and productive. As technology continues to evolve, organizations will look to their finance professionals to produce higher-quality data and provide key insights that will drive strategy and improve financial results. One key aspect that cannot be lost in this era of rapid technological change is the people. Technology is not about replacing people but refining the processes that will enable them to perform their jobs more efficiently and effectively. Progress comes from the harmonization of a company’s functions and its people. It was in that spirit that together we embarked on the 2024 Lease & Finance Accountants Conference and the Operations & Technology Conference.
Keynote Speakers
Among the highlights of the conference were three keynote speakers who addressed joint sessions:
- On Monday afternoon, Leigh Lytle, President and CEO of ELFA, delivered an interesting presentation on the Top 10 Equipment Acquisition Trends facing the growing U.S. economy.
- On Tuesday morning, after a moment of silence to pay tribute to the 23-year anniversary of the 9/11 attacks, Michael Rogers, a best-selling author, technology pioneer and futurist, gave a fascinating presentation on a vision of the future based on current trends, technology and the vitality and inevitable evolution of modern life.
- On Wednesday morning, Jason Turner, the chief investment strategist of Great Lakes Advisors, presented insights and key takeaways into the current economic climate, investment strategies and trends impacting the equipment finance industry.
Conference Content and Daily Walk Through
The events this year began with a community dinner on Sunday evening, when conference attendees were invited to participate in a dine-around. Participants selected from a variety of restaurant options, offering the opportunity to meet new people and build new relationships over a group dinner.
Two pre-conference sessions on Monday morning opened the first day of the accounting portion of the conference, offering attendees a choice between roundtable discussions on soft skills or on processes, controls, and systems for equipment leasing. Both topics proved very appealing, with standing-room-only turnout at the processes and control session, and a good turnout as well for soft skills. The latter session focused on developing the elements of leadership, interactive engagement, communication, etc., as essential to career and professional growth.
A welcome address, the annual operations technology award presentation, and then the joint keynote speaker presentation kicked off the official beginning of the conference on Monday afternoon. This was followed by concurrent sessions on introductions to leasing and finance, tax investing and selling credits, and the CECL new credit loss standard. The last sessions of the day followed with concurrent sessions covering lease and loan pricing basics, comprehensive ESG, and sale leaseback/built to suit. The day ended with a newcomers reception and then a general reception, all great networking opportunities to meet colleagues and enjoy professional interactions over food and drink.
The second day began with a good turnout for the 5k fun run/walk followed by breakfast. After the welcome for the day and the keynote address, we were honored to have IASB Board member Bob Uhl and FASB board member Fred Cannon apprise us on the status of official accounting standards and respective Board happenings. The discussion was expertly moderated by ELFA’s former long-time Financial Accounting Committee Chair John Bober.
Tuesday continued with a hosted conference luncheon, followed by a general joint session on technology trends using artificial intelligence (AI). The mid-afternoon sessions featured the CFO roundtable, a conference staple in which colleagues interact to share best practices on issues of their choosing. A tax update session, and “day two” considerations for lessors were also concurrent session options. The day ended with breakout sessions on the accounting perspective on “X as a service” and advanced lease and loan pricing before heading to that evening’s reception.
The final day of the conference began with breakfast followed by the keynote presentation as described above. After a break, the conference continued with mid-morning concurrent sessions, including a discussion of accounting considerations for energy tech arrangements as well as the same for securitizations and syndications. The time-honored last session of the conference was the popular “ask the accountant” where attendees had the opportunity to inquire of any topic related to lease accounting in an open panel format with industry experts from public accounting.
Attendees were eligible to receive 15 continuing professional education credits from the National Association of State Boards of Accountancy.
Acknowledgments and Looking Ahead
The conference content and sessions are prepared and conducted by the esteemed professional members of ELFA’s Financial Accounting Committee, all of whom are volunteers. I want to sincerely thank them for their engagement and expertise. Tremendous appreciation also goes out to the staff at the ELFA for their guidance and support throughout the process. Feedback from the attendees’ evaluations and other interactions will be part of the planning for next year’s conference to be held from Sept 7–10, 2025 in the exciting mile-high city of Denver, Colorado!
