EVENT

December 14-15, 2020

2020 Global Financial Reporting and Valuation Conference (Highlights)

Virtual



Ryan Marren

Ryan Marren

Principal, Tax, Economic & Valuation Services, KPMG US

+1 703-286-8032

Patrick R. Ryan

Patrick R. Ryan

Partner, Accounting Advisory, KPMG US

+1 703-286-8257

  • Overview
  • Session Replays
  • Speakers
  • Steering committee
  • Related resources

Overview

2019 was a year highlighted with “super-mega” mergers in the US, organizational transformation through technology and workforce, and geopolitical challenges and uncertainty. As planning and corporate visions were being finalized for 2020, few could have predicted what was to come next. On came the global pandemic, which not only challenged the way companies and individuals operate but transformed reality. Reality Rewired: a dynamic vision for the future.

We invite you to review the highlights from KPMG’s Global Financial Reporting and Valuation Conference where subject matter specialists and industry leaders provided insights about the ramifications of the November election related to tax law and fiscal policy, how the CAO continues to seize the business partner role in a turbulent 2020, how companies are adapting to a remote workforce, capital structures in the pandemic environment, and differentiated diligence in a virtual setting. In addition, you will have an opportunity to access break-out sessions covering industry specific trends and financial reporting and valuation challenges.

Session Replays

Monday, December 14th

Topic

Description

Resources Replay*
2021 and Beyond Insights and broad ramifications of the November election as related to tax law and fiscal policy. What we can expect to see in 2021. Session presentation Video replay
Breakout Sessions Being or Going Public in 2020. This session will focus on the latest trends in the IPO market, including the popularity of leveraging pre-existing special purpose acquisition companies to take your company public. Further, for those corporations already publicly traded, the session will highlight current SEC trends, such as changes to Article 11, ASC 805 reporting and other disclosure requirements.
Session presentation Video replay
Capital structures in the pandemic environment. Initially during the COVID pandemic, federal funds and banks were quite generous to many companies across many impacted industries. We saw companies accessing capital and maintaining liquidity through PPP loans, revolvers, divestitures, extension of payment terms, lease abatements, etc… and leveraged that capital to maintain payroll, invest in infrastructure and new expense overhead such as protective equipment and increased go to market expense created by the pandemic. We are slowly seeing a new environment as lenders become more active in both lending and evaluation of problem credits that are still facing significant headwinds in their respective markets.  While the credit markets are becoming stronger, lenders are beginning to downgrade ratings and are actively assessing potential winners and losers as future forecasting becomes more fact based. No session materials Coming soon
Differentiated diligence. In today’s environment understanding a company’s value requires a more integrated, and data-driven diligence approach that looks deeper into market considerations, operating effectiveness, functional performance and financial health. Accomplishing this during the COVID pandemic has been a challenge for corporations. Advanced analytics, virtual tools and a cohesive multi-disciplined team is needed to drive rich driven insights to assess the Target value. Getting this right will lead to outsized performance and value creation in the future. Session presentation Video replay

 

Tuesday, December 15th

Topic

Description

Resources Replay*
CAO rising as a business partner This session builds on the Chief Accounting Officer (“CAO”) of the Future survey highlighted to the GFRVC audience last year.  We will focus on the continuing evolution of the CAO role, especially in the Covid Environment, share best practices on being a better business partner within the organization and learn how to broaden the mindset to be at the center of a company’s transformation.  Hear best practices from your peers as well as lessons learned along the evolution. Session presentation Coming soon
Remote workforce Great companies don’t just respond to crises, they seize them as an opportunity to become better—to cast off what is no longer working and pivot to new ways of doing business. What began as an extraordinary “work anywhere” pilot now requires organizations to rethink how they enable agile, sustainable and new ways of working. This has presented a profound opportunity for organizations to take the friction out of delivering to the customer and fulfilling the employee experience. It has also set the stage for improved productivity, reduced turnover, better access to diverse talent, and lower costs. We describe this transformation as, “Work anywhere, together.” Session presentation Video replay
Breakout Sessions COVID-19 impact and challenges in the retail industry - COVID-19 had an unprecedented impact on the retail industry, creating challenges to most non-essential retail businesses.  While retail businesses are operating, there are limits on customer capacity and store hours, as well as other contributing factors that are leading to a decline in revenue and permanent closures.  In this session, we will discuss the current status of the retail industry, predictability of revenues and cash flows, impairment triggers, measuring the fair value of a ROU assets, and engage in a panel discussion with industry participants on a variety of relevant topics. Session presentation Video replay

Finance Rising - In a time or rapid change, industry consolidation, and technological innovation the role of a bank’s finance department is quickly changing to address the needs of their own organization and the industry as a whole. This roundtable discussion with several Bank financial professionals will highlight and answer may of most urgent questions facing a finance department today including:

What does the finance role of the future look like?

  • How as the role of a finance professional changed within the industry?
  • How as technology changed the role of the finance department?
  • How does a bank think about data, and the connectivity of this data to other areas within its organization?
  • How the bank’s data has been affected during the 2020 and how has this impacted day-to-day finance and accounting operations?
No session materials Coming soon
Energy/Oil & Gas -  Boom-and-bust cycles have long been a feature of the energy industry, but COVID-19 is accelerating what was already shaping up to be one of the industry’s most transformative moments. Join KPMG industry leaders as they provide an overview of the current industry trends (Oil and Natural gas price trends, and OPEC+), while also discussing the financial reporting and valuation impacts related to restructuring and consolidation. The session also provides an opportunity to hear from your peers on the current situation and views on the future. Session presentation Video replay
Navigating the Regulatory and Financial Reporting ecosystem of the Healthcare and Life Sciences Industries. This session will provide a brief industry update followed by a discussion on financial reporting and accounting topics relevant to the healthcare and life sciences industries.  We plan to cover the regulatory fair market value issues that are unique to these two industries.  In addition, the session will touch on industry centric considerations in purchase accounting and goodwill impairment testing. No session materials Video replay
Technology/Media/Telecommunications. This breakout session will cover current market trends affecting the Technology, Media and Telecommunications industry. There will be a discussion of specific topics such as the impacts of 5G technology deployments, ESG/sustainability, migration to cloud enabled services and the current regulatory environment. Covering these topics will be industry experts from KPMG, followed by a panel session that will address questions from the audience as well as the impacts to the TMT industry of the issues discussed during the general sessions. No session materials Video replay

Manufacturing Disrupted:  What changed in 2020 and what have we learned?
Since the onset of the pandemic in early 2020, we have seen disruption in manufacturing and the global supply chain. This has resulted in working capital and cost reduction efforts and intensified the need for tighter shop floor cost management and visibility into the supply chain.  Furthermore, many manufacturers are evaluating methods to achieve greater efficiency, including technology transformation, shift in workforce managements, and methods for forecasting in an ever-changing demand environment.  We will also explore the accounting and valuation aspects of this disruption and the impact these measures are having on the financial statements and disclosures. 

Session presentation Video replay

 

*Session replays do not qualify for CPE credit

Speakers

Laura Adams

Booz Allen Hamilton

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Patricia Alonso de la Fuente

KPMG

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Najjam Asgar

Sorrento Therapeutics

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Nick Baker

Buckeye Partners

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Andrew Basso

KPMG

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Dean Bell

KPMG

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Fred Betz

KPMG

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Katherine Blue

KPMG

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David Bushi

Coors Tek, Inc.

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Craig Coburn

BP North America

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Tony Colucci

Alta Equipment Company

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Michael DiClaudio

KPMG

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Stephen Gentry

Genuine Parts

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Mark Gibson

KPMG

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John Gimigliano

KPMG

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Brett Glover

KPMG

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Ron Gold

Frost Brown Todd

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Mike Harling

KPMG

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Brad Hirsch

KPMG

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Alex Holt

KPMG

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Mike Hoyt

KPMG

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Jack Ingram

KPMG

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Allen Klingsick

Peloton

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David Konop

KPMG

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John Lambert

KPMG

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Tim Lashua

KPMG

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Eric Logan

KPMG

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Pete Lyster

KPMG

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Ryan Marren

KPMG

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JJ Mathews

PNC Bank

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Martin Mazin

KPMG

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Betsy McCullar

Emerisque

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Mike Meiggs

Linoctek Medical US

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Mark Mey

TransOceanic

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Michael Musso

KPMG

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Alex Neil

KPMG

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Michael Nesta

KPMG

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Andrew Nolan

KPMG

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Chris Ober

KPMG

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Yuwon Pak

KPMG

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Vimal Patel

KPMG

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Kristin Pothier

KPMG

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Michael Rudolph

KPMG

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Patrick Ryan

KPMG

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Mike Ryan

Otis Corporation

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Marybeth Shamrock

KPMG

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Ed Shimmin

Proximo Spirits

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Mark Smith

Regions Business Capital South

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Ed Sperling

CIT Group

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Jeff Stoll

KPMG

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Jennifer Van Dalen

KPMG

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Reza Van Roosmalen

KPMG

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Julia Wilson

KPMG

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Steering committee

Rich Michalek

Director - Mergers & Acquisitions and Internal Audit
Archer Daniels Midland

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Ken DeVries

Chief Accounting Officer
HUB International, Ltd.

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Erika Kelley

ICAP & M&A Controller
Intel Corporation

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Sundeep Reddy 

SVP & Controller, Chief Accounting Officer
McKesson Corporation

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JJ Mathews

Director of Finance Governance & Corporate Accounting
PNC Bank

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Brad Harper

SVP & Chief Accounting Officer

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Hubert Ban

SVP, Finance
Salesforce.com Inc.

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Linda Brennan 

Senior Director, M&A Finance and Integration
VMWare

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Jeff Buckley

Chief Accounting Officer
Palantir

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Dan Drobac

VP, Accounting & Controller
T-Mobile

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Melinda Henbest

Director, Accounting Policy
Boeing Company

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Ed Sperling

Executive Vice President & Controller
CIT Group Inc

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Chris Lilla

EVP and Chief Financial Officer
Busche Performance Group

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Related resources

KPMG SPAC Intel Hub 
      A knowledge center for investors and potential sellers addressing the complexities of special-purpose acquisition company mergers

Catching up on Capitol Hill 
      Insights from KPMG professionals on what's happening in Washington that affects business taxation