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Lenders FASB

Amundsen Davis LLC

Are Your Financial Covenants Ready for the New Lease Accounting Standard?

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Commercial loan documents may be impacted by new treatment of leases under ASC 842- Lenders and non-public companies should be aware of the impact of Financial Accounting Standards Board (FASB) ASC 842, the new lease...more

Proskauer Rose LLP

Inclusion of Government Grants in EBITDA

Proskauer Rose LLP on

In response to the COVID-19 epidemic, the U.S. government has provided relief to companies through various grant programs. The receipt of these grant proceeds represents a meaningful lifeline to many companies and the...more

Dechert LLP

Beany & CECL – Episode 2

Dechert LLP on

Just a few short months ago we took on the breathtakingly ill-conceived Current Expected Credit Loss (CECL) standard that the Financial Accounting Standards Board (FASB) proposed to implement starting in 2020. CECL will...more

Dechert LLP

Beany & CECL

Dechert LLP on

Beany & Cecil was a cartoon. The Current Expected Credit Loss accounting rules, better known as CECL, which the FASB is insisting will go into effect at the beginning of next year for publicly traded banks and lenders and a...more

Dechert LLP

SEC Proposes Amendments to Auditor Independence Rule to Address the “Loan Provision”

Dechert LLP on

The U.S. Securities and Exchange Commission (SEC) voted unanimously on May 2, 2018 to propose amendments to Rule 2-01(c)(1)(ii)(A) under Regulation S-X – the so-called “Loan Provision” (Proposal). Generally, the Loan...more

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