Generally Accepted Accounting Procedures

Generally Accepted Accounting Principles (GAAP) are accounting standards and procedures that are used by companies within a particular jurisdiction to prepare financial records and statements. These principles... more +
Generally Accepted Accounting Principles (GAAP) are accounting standards and procedures that are used by companies within a particular jurisdiction to prepare financial records and statements. These principles are intended to create consistency in documentation across companies and industries. Consistent documentation assists investors to better analyze potential investments and assists regulators to detect potential fraud and/or wrongdoing. less -
News & Analysis as of

This Week In Securities Litigation

The SEC requested comment on the development of a consolidated audit trail this week, a concept long discussed. The audit trail would enable regulators to track trading activity in the U.S. markets. Enforcement initiated...more

"SEC to Focus on Non-GAAP Financial Measures in 2016"

On March 16, 2016, Securities and Exchange Commission Chair Mary Jo White cautioned an audience of industry professionals at the U.S. Chamber of Commerce that the SEC continues to focus on companies’ use of financial measures...more

Recent Arizona Case Law and Other Developments Affecting Real Estate Lending

Recent Arizona Case Law - Dobson Bay Club II DD, LLC v. La Sonrisa De Siena, LLC (AZ Court of Appeals 2016). The borrowers signed a $28.6 million note and DOT to CIBC. The note required interest-only payments with a...more

Lease Accounting Changes Are Around the Corner: How Will This Affect Borrowers Under Credit Facilities?

Off-balance sheet operating leases are an important part of many companies’ financing strategies. A key attraction of operating leases is that neither leased assets nor lease payments are recorded on a company’s balance...more

UK Financial Regulatory Developments - April 2016 #5

ESMA consults on EU MAR commodity and spot markets disclosures - ESMA is consulting on draft guidelines under the Market Abuse Regulation (EU MAR) setting out a non-exhaustive indicative list of information expected or...more

Blog: SEC Chief Accountant Addresses The New Revenue Recognition Standard In The Context Of The Life Sciences Industry

In late March, SEC Chief Accountant, James Schnurr, delivered remarks before the 12th Annual Life Sciences Accounting and Reporting Congress. The remarks addressed the new revenue recognition standard and internal control...more

Class Action Settlements, Cases Paralleled by SEC Up in 2015

Cornerstone Research released a report on Securities Class Action Settlements, “Securities Class Action Settlements, 2015 Review and Analysis”. It records an increased number of settled securities class actions last year....more

European Banking Authority Consultation on Reporting Financial Information Using GAAP

The European Banking Authority launched a consultation on reporting financial information across EU jurisdictions using national Financial Supervisory Reporting Generally Accepted Accounting Practices (GAAP). The EBA reported...more

SEC’s High Priority Financial Reporting Cases Illustrate the Importance of Verifying and Maintaining Rigorous Internal Controls

Over the past two years, the SEC has increased its focus on enforcement actions against companies for lack of internal controls in proceedings that have spanned a range of industries and have implicated several distinct...more

Mind the Non-GAAP: Considerations for Using Non-GAAP Financial Measures in the Face of Increased Scrutiny

Non-GAAP measures, those that present financial performance differently from financial statement presentation under generally accepted accounting principles (GAAP), are again attracting scrutiny from the financial press and...more

It’s Time Again for Audit Committees to Mind the Non-GAAP

Judging by the frequency of recent news reports and SEC staff speeches focused on non-GAAP financial measures, audit committees may be well served to take a fresh look at the non-GAAP measures reported by their companies and...more

Recent SEC Warnings Regarding the Use of Non-GAAP Financial Measures

In recent speeches, SEC Chair Mary Jo White and Chief Accountant James Schnurr have addressed the SEC’s growing concern regarding the use of non-GAAP measures in financial reporting. The SEC initially adopted Regulation G in...more

FASB’s Current Expected Credit Loss Proposal - Capital Recapture Considerations for Loan Documents

This eUpdate addresses a concern regarding the impact on bank capital of the FASB’s “Proposed Accounting Standards Update, Financial Instruments—Credit Losses (Subtopic 825-15)” (the “Proposal”), should it be adopted. ...more

New Lease Accounting Rules and Their Effect on Lessee Balance Sheets

Last month, the Financial Accounting Standards Board (FASB) issued a new lease accounting standard that fundamentally alters how leases are recorded on a lessee’s financial statements. These changes to lease accounting could...more

News & info from Burnie Maybank about economic development as well as state and local taxation in S.C.

Economic Development | State and Local Taxation - “Current GAAP has no explicit guidance on the accounting for, or the disclosure of, government assistance received by business entities. The amendments in this proposed...more

NYSE Listed Foreign Private Issuers Now Required to Submit Unaudited Semiannual Financial Information

The New York Stock Exchange (NYSE) recently proposed to amend the NYSE Listed Company Manual to require foreign private issuers listed on the NYSE to furnish with the U.S. Securities and Exchange Commission (SEC) semiannual...more

Court Allows 'Retroactive' Application of 2005 Wage Index Rule Limiting Reimbursement for Pension Plan Costs

On February 22, 2016, in Regents of the University of California v. Burwell, the U.S. District Court for the District of Columbia granted summary judgment in favor of the Secretary of Health and Human Services (the Secretary)...more

FASB Lease Accounting Changes

The Financial Accounting Standards Board (FASB) is expected to finalize new lease accounting standards (“Standards”) within the coming months which will have very real consequences for owners and lessees alike. Under current...more

The New Lease Accounting Standard–What Lawyers Need to Know Now

With calendar year-end Form 10-K filings almost completed, you may have noticed the addition of Accounting Standards Update No. 2016-02 “Leases (Subtopic 842)” to the MD&A subsection addressing new accounting standards. In...more

New Lease Accounting Rules Are Final: Retailers and, Ultimately, Landlords Can Expect Changes

We recently wrote about expected changes to the rules governing the way leases are accounted for on balance sheets and suggested the changes would have major implications for retailer tenants and longer term implications for...more

The New Lease Accounting Rules - Implications for Financing Agreements

New updates to accounting standards issued by the Financial Accounting Standards Board (“FASB”) on February 25, 2016 and by the International Accounting Standards Board (“IASB”) on January 13, 2016 will dramatically change...more

Big Changes in Lease Accounting: FASB Releases Final Standards

The Financial Accounting Standards Board (the “FASB”) released the long-anticipated final standards, Leases (Topic 842) (the “Final Standards” or “Topic 842”), on February 25, 2016, completing an overhaul of the lease...more

New accounting standard, IFRS 16 Leases — impact on facility agreements

On 13 January 2016, the International Accounting Standards Board (IASB) published a new accounting standard relating to the accounting treatment of leases?IFRS 16 Leases. The new accounting standard will take effect from 1...more

Data Valuation – Worth Zero or Trillions?

Almost every entity is, or is becoming, a digital enterprise. Today’s information economy mandates nothing less. Entities are making tremendous investments in order to exploit the vast amounts of data – Big Data – that are...more

Revised Capital Framework for Depository Institution Holding Companies Organized as LLCs and Partnerships

The Federal Reserve Board (the “Board”) has adopted amendments to the Board’s regulatory capital framework (“Regulation Q”), that clarify how the revised regulatory capital framework applies to depository institution holding...more

136 Results
|
View per page
Page: of 6
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×