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Financial Accounting Standards Board

Wilson Sonsini Goodrich & Rosati

Sustainability and ESG Advisory Practice Update, October 2023

We are pleased to share the October 2023 issue of Wilson Sonsini's Sustainability and ESG Advisory Practice Update. Each issue combines news, key legal developments, and resources related to sustainability and environmental,...more

Holland & Knight LLP

SEC Chief Accountant Lauds FASB for Engaging Investors, Stakeholders on Potential New Standards

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Paul Munter, acting chief accountant for the SEC's Office of the Chief Accountant, on Feb. 22, 2022, released a statement related to the Financial Accounting Standards Board's (FASB) effort to consult with investors and...more

Opportune LLP

After FASB Delays Accounting Standards, Here’s What Private Companies Should Be Doing Now

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The FASB may have delayed implementation of the Leases standard (Topic 842) for private companies, but here's what companies should be doing now to be prepared....more

Faegre Drinker Biddle & Reath LLP

Final Rule on Borrower Defense and Financial Responsibility Published by U.S. Department of Education

On September 23, 2019, the U.S. Department of Education (ED or the Department) published in the Federal Register final regulations on Institutional Accountability, which revise its current regulations on borrower defenses to...more

Shumaker, Loop & Kendrick, LLP

Client Alert: Is Your Business Franchisable? An Alternative Method for Business Enterprise Growth

When business owners contemplate expan­sion and growth of their business enterprise and brand, they must first make a fundamental decision on strategy and method of expansion. Should they (a) expand on their own, utilizing...more

Opportune LLP

Bargain Purchases in Business Combinations: A Rarity Explained

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In the years since Financial Accounting Standard (FAS) 141 (now codified as ASC 805, Business Combinations) was implemented in 2001, most business combinations have resulted in the recognition of goodwill or have been...more

Bennett Jones LLP

Are You Ready? IFRS 16 and Your Contractual Arrangements

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IFRS 16 Leases becomes effective for annual reporting periods beginning on, or after, January 1, 2019. Consequently, entities with a December 31 year end, who did not adopt the new standards early, will report financial...more

White and Williams LLP

A Focus on Variable Interest Entities

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Since the Enron debacle, the Financial Accounting Standards Board (FASB) has paid a lot of attention to the types of entities that were used by Enron to avoid its financial reporting obligations. The FASB released Accounting...more

Snell & Wilmer

SEC Adopts Amendments to Simplify and Update Disclosure Requirements

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On August 17, 2018, the SEC adopted amendments to certain disclosure requirements that it deems to have become “redundant, duplicative, overlapping, outdated, or superseded” given existing SEC disclosure requirements, U.S....more

Foley & Lardner LLP

SEC Eliminates Redundant Disclosure Requirements

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On August 17, 2018, the U.S. Securities and Exchange Commission (SEC) announced that it had adopted a wide-ranging set of amendments (the “amendments”) to its disclosure requirements designed to streamline or eliminate those...more

Fenwick & West LLP

Life Sciences and Tech Companies Should Take Note of These New SEC Amendments

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The U.S. Securities and Exchange Commission this month adopted amendments to certain disclosure requirements in an effort to streamline rules and regulations, and to remove requirements that are “redundant, duplicative,...more

WilmerHale

SEC Adopts Disclosure Update and Simplification Rules

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Last week, the Securities and Exchange Commission voted to amend disclosure requirements “that have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements,...more

Opportune LLP

Tax Considerations for Energy Companies When Implementing New Lease Standards Under ASC 842

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On February 25, 2016, FASB issued its new lease accounting standard update (ASU) No. 2016-02, Leases, which codified ASC Topic 842 (Topic 842). Topic 842 is effective for calendar year-end public companies on January 1, 2019....more

WilmerHale

CAQ Provides Revenue Recognition Tool for Audit Committees

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The Financial Accounting Standards Board’s comprehensive new revenue recognition standard (ASC 606) will become effective for calendar-year reporting companies on January 1, 2018, a little over a year from now. As previously...more

Manatt, Phelps & Phillips, LLP

Own or Lease? New Accounting Rules Necessitate Review

The divestiture of property owned by non-real estate companies has long been a trend in the U.S. Though there are many advantages to owning—and thereby controlling—your own real estate, non-real estate businesses, especially...more

Parker Poe Adams & Bernstein LLP

FASB Improves Employee Share-Based Payment Accounting

As part of an ongoing Simplification Initiative, the Financial Accounting Standards Board (the “Board”) recently issued an Update to Accounting Standards Codification (ASC) Topic 718, which deals with stock-based...more

Proskauer - Not for Profit/Exempt...

Proposed Changes to Financial Accounting for Not-for-Profit Entities

The Financial Accounting Standards Board (“FASB”) has issued an exposure draft of a Proposed Accounting Standards Update, Presentation of Financial Statements of Not-for-Profit Entities, which would make significant changes...more

Morgan Lewis

FASB Eliminates Extraordinary Items Reporting

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In January, the FASB adopted a final Accounting Standards Update that eliminates the requirement that preparers report events that meet the criteria for extraordinary classification separately in an income statement, net of...more

Goodwin

Comptroller Curry Makes Presentation Supporting FASB’s Proposed Change to its Asset Impairment Measurement Standard

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Comptroller of the Currency Thomas J. Curry made a presentation at the American Institute of Certified Public Accountants (AICPA) Banking Conference on September 16, 2013 in which he expressed his support for the Financial...more

Stinson - Corporate & Securities Law Blog

A Lawyer’s Guide To Proposed Lease Accounting Rules

The Financial Accounting Standards Board, or FASB, together with the International Accounting Standards Board, or IASB, is comprehensively reconsidering lease accounting. ...more

King & Spalding

Public Company Adviser - March 2013: A “Roadmap” to Accrual and Disclosure Requirements under ASC 450

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Of the types of information required to be disclosed by public companies, information about “contingencies” is often one of the more sensitive disclosures for the company and may be closely scrutinized by analysts and...more

Dechert LLP

Proposed FASB Rule Accelerating Recognition of Credit Loss

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The Financial Accounting Standards Board (FASB) recently released an exposure draft (“Exposure Draft”) that proposes a new approach to accelerate the recognition of credit losses (“Proposed Rule”). The FASB perceives delayed...more

Troutman Pepper

The SEC Is Scrutinizing Asset Valuations—Are You Ready?

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The Securities and Exchange Commission (SEC) recently has set its sights on registered entities and their officers and directors for overvaluing the entities’ assets....more

Katten Muchin Rosenman LLP

FASB Drops Proposal to Modify Loss Contingency Disclosure Requirements

On July 9, the Financial Accounting Standards Board (FASB) decided to remove its project to modify disclosures of certain loss contingencies from the FASB’s technical agenda. The project, originally undertaken in 2007, sought...more

Holland & Knight LLP

FASB Votes Against Loss Contingency Disclosure Requirements Project

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On July 9, 2012, the Financial Accounting Standards Board (FASB) voted against moving forward with its exposure draft project to modify the accounting and disclosure requirements for loss contingencies. The exposure draft was...more

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