Introduction

We invite you to the third webcast in our "US GAAP & IFRS convergence series", scheduled for Wednesday, August 11, from 1:00 to 2:30 PM (ET). Our panelists will focus on the FASB's convergence project on leasing and will also provide an update on any major recent convergence developments.

The archive for the previous webcasts in this series, addressing Financial Instruments and Revenue Recognition, can be accessed here (link).

Overview
The FASB and IASB are expected to issue an exposure draft on a new, converged lease standard shortly, which will significantly change lease accounting, including the elimination of operating leases. If the tentative decisions become final, the new approach may affect financial ratios and metrics, lease-versus-buy decisions, contractual agreements, accounting systems and information needs.  Because virtually all companies enter into lease arrangements, the boards' approach will have a pervasive impact.

Speakers on our webcast panel will:

• Present an update on any major recent convergence developments;
• Delve into the specifics of the leasing project;
• Discuss the impacts of the proposed changes;
• Review what steps companies should be taking now; and
• Answer as many of your questions as possible during a Q&A session.

Participants will increase their understanding of the leasing project, and the next steps they should take.

Additional webcasts on other key projects will follow. For more about the convergence effort overall, we invite you to read, Setting the Standard: What you need to know about the FASB and IASB's joint projects (June 2010) and Point of View:  Slowing Down the Pace of Standard Setting. More on the leasing project specifically may be found in DataLine 2010-09: Overhauling Lease Accounting and Point of View: The Future of Leasing.

Register today.  To register for this webcast, please click "Register Now" to the right. Once you register, you will receive a confirmation email with a link and access instructions for joining the webcast.

Who should attend? Audit Committee members, CFOs, Controllers, Finance Directors, Business Unit finance and tax leadership, and other financial reporting functions.

Invite a colleague! This is a personal invitation and therefore cannot be forwarded.  If you would like to invite a colleague please use the 'invite a colleague' link on the invitation or simply direct your colleague to www.meetpwc.com/convergence0811