ASC 842: Private Companies On The Clock After Delay
At the beginning stages of a solar project, developers must be aware of oil and gas operations on or near the project area. However, operations that occur near but not directly on a site plan are often overlooked. If...more
Dave Loucks, Director in Opportune LLP's Complex Financial Reporting practice, discusses why private companies need to prepare now in order to comply with the impending ASC 842 lease accounting standard slated to go into...more
The NRC released a draft white paper discussing options to streamline its regulatory licensing process for microreactors. Specifically, the NRC Staff is “considering strategies to streamline the license review process by...more
A synthetic lease is a financing technique structured to be an operating lease for the lessee’s financial accounting purposes and a financing for U.S. federal tax purposes. Synthetic leases are most often used in acquisition...more
The new International Financial Reporting Standard 16 Leases (IFRS 16) has taken effect, and the companies using IFRS shall adopt IFRS 16 for accounting periods beginning on or after 1 January 2019. ...more
Despite being to a leasing trade association, the focus of the presentation is the partnership flip structure. The presentation includes appendices on the phase down of tax credits for solar and the phase out of tax credits...more
So there I was, attending a conference of our friends in the corporate audit and finance functions. I attended a session on the new accounting standard for operating leases, which goes into effect in December....more
Facebook’s Q1 results make a strong case for Zuckerberg and his ilk riding out arguably its most serious crisis to date (the flood of criticism over its privacy practices and handling of user data) with next-to-no effect on...more
District court case shines a light on the extent and limits of a lender’s duties in both structuring loan transactions and exercising remedies. Borrowers need to be mindful in structuring the tax and cross-border aspects...more
The inclusion of engine pooling arrangements and rigorous maintenance requirements in operating leases frequently results in engines which formed part of a leased aircraft at delivery (for the purposes of this article, the...more
With competition among aircraft lessors remaining fierce, airlines continue to take an increasing proportion of aircraft on operating lease. An important recent trend in the aircraft financing market, the “wholesaling” of...more
The "Environmental Bill of Rights" is now indisputably the law of the land in Pennsylvania. A majority of the Pennsylvania Supreme Court reaffirmed and extended its landmark decision in Robinson Township v. Commonwealth, 83...more
The new lease accounting rules (Accounting Standards Update N0. 2016-02; Topic 842) will require the recognition of lease assets and lease liabilities for those leases classified as operating leases under existing GAAP. For...more
To perhaps oversimplify things greatly, the new GAAP for lease accounting will require operating leases to be recorded on the balance sheet much like the current treatment for capital leases. This shift in GAAP could wreak...more