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Accounting Standards

Opportune LLP

Profits Interests: Accounting & Valuation Considerations

by Opportune LLP on

Executives at both public and private oil and gas companies commonly receive performance-based incentives. The objective is to link compensation closely to the financial results of a firm. These performance-based incentives...more

Dacarba LLC

Everything You Need To Know About The New Lease Accounting Standard

by Dacarba LLC on

Public companies have two months (December 15, 2018) until they are required to recognize leases under the new lease accounting standard (“ASC 842”) with terms greater than one year on their balance sheet for annual and...more

Opportune LLP

Contingent Consideration: Valuing & Reporting These Two-Way Hedges for Oil & Gas Acquisitions

by Opportune LLP on

Bid-ask spreads have recently been a sticking point in oil and gas deals. Sellers may feel optimistic on commodity prices or future asset performance, but buyers may be cautious, or even pessimistic, on these points. One...more

White & Case LLP

SEC Adopts Amendments to Simplify and Update Disclosure Requirements

by White & Case LLP on

On August 17, 2018, the Securities and Exchange Commission ("SEC") adopted amendments to eliminate or modify certain disclosure requirements that have become duplicative, overlapping or outdated in light of other SEC...more

Cooley LLP

Blog: It’s back to SAB 99 for FASB definition of materiality

by Cooley LLP on

In 2015, FASB sent a number of stakeholders into a tizzy when it issued two exposure drafts, part of its disclosure framework project, intended to “clarify the concept of materiality.” After hearing from any number of...more

Parker Poe Adams & Bernstein LLP

Parsing the SEC’s Recent Disclosure Amendments

On August 17, the SEC announced a sprawling array of rule amendments designed to simplify and update its disclosure requirements. You may recall that the Fixing America’s Surface Transportation (FAST) Act of 2015 directed the...more

Opportune LLP

FASB Issues Guidance To Ease Lease Accounting Transition

by Opportune LLP on

The Financial Accounting Standards Board (FASB) on July 30 issued an “Accounting Standards Update (ASU) 2018-11, Leases (Topic 842): Targeted Improvements” that aims to reduce costs and ease implementation of the lease...more

Dacarba LLC

FASB Updates Aim To Ease Lease Accounting Transition

by Dacarba LLC on

The Financial Accounting Standards Board (FASB) on July 30 issued an “Accounting Standards Update (ASU) 2018-11, Leases (Topic 842): Targeted Improvements” that aims to reduce costs and ease implementation of the lease...more

Cooley LLP

Blog: Are non-GAAP financial measures still problematic?

by Cooley LLP on

A couple of years ago, the SEC made a big push—through a series of staff oral admonitions and written guidance, as well as one enforcement action—toward requiring issuers to be more transparent and more consistent in the use...more

Dacarba LLC

Two Phases Of A Successful Lease Accounting Implementation Approach

by Dacarba LLC on

The effective date for public calendar year filers to comply with the new lease accounting standard (“Topic 842”) is fast approaching. The new standard will have a significant impact on how entities manage, account for and...more

Thomson Reuters Financial & Risk

A focus on corporate treasury regulation in 2018

The increasing workload of corporate treasury regulation in 2018 includes the effects of MiFID II, CRD IV, IFRS 9 and the FX Global Code of Conduct. How can treasurers stay on top of these multiple challenges?...more

Opportune LLP

Topic 606 and More

by Opportune LLP on

Public midstream oil and gas entities continue to face ever-increasing complexity related to filing financial statements that are compliant with GAAP and the U.S. Securities and Exchange Commission (SEC). The SEC has been...more

Dacarba LLC

Top 3 Revenue Disclosure Items to Consider Under ASC 606

by Dacarba LLC on

Private calendar year filers have less than seven months until the new “Revenue from Contracts with Customers” standard (“ASC 606”) comes into force. Already effective for public companies, ASC 606 will be effective for...more

Opportune LLP

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

by Opportune LLP on

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

Opportune LLP

IRS Issues Taxpayer Favorable Change of Accounting Method Procedures to Align with New Revenue Recognition Standards

by Opportune LLP on

On May 28, 2014, FASB and IASB jointly announced new financial accounting standards for revenue recognition, titled “Revenue from Contracts with Customers (Topic 606).” For publicly-traded entities, Topic 606 was required to...more

Opportune LLP

The Rise of Technology in Oilfield Services and Drilling: What it Means for Valuation

by Opportune LLP on

Over the last few years, technology has become increasingly more prominent in the extraction and production of oil and natural gas. Oilfield service and drilling providers have worked to develop greater technological...more

Dacarba LLC

How to Properly Identify a Lease and Asset Under New ASC 842 Standard

by Dacarba LLC on

The new Lease Accounting Standard (“ASC 842”) will have a significant impact on how businesses manage, account for and report substantially all leases, including equipment and real estate. Because of the meaningful accounting...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

CFTC Reduces Marketplace Barriers for Global Development Initiatives - On May 16, 2018, the Commodity Futures Trading Commission's ("CFTC") Division of Swap Dealer and Intermediary Oversight ("DSIO") granted relief to...more

Thomson Reuters Financial & Risk

IFRS 9 hedge accounting: A financial opportunity for corporate treasuries

IFRS 9 hedge accounting should be viewed as a potential financial opportunity for corporate treasuries, rather than a compliance constraint. What are the risk management benefits of using this new accounting standard?...more

Orrick - Structured Finance Group

Notice of Proposed Rulemaking

On May 14, 2018, the Office of the Comptroller of the Currency (“OCC“), Board of Governors of the Federal Reserve System, and Federal Deposit Insurance Corporation (collectively, the agencies) published a notice of proposed...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

SEC Proposes to Enhance Protections and Preserve Choice for Retail Investors in Their Relationships with Investment Professionals - On April 18, the Securities and Exchange Commission voted to propose a package of...more

Cooley LLP

Blog: Report On International Disclosure Of “Key Audit Matters”

by Cooley LLP on

This study conducted by the Association of Chartered Certified Accountants reports on the results of a year of international reporting of “key audit matters,” the International Auditing and Assurance Standards Board’s analog...more

White and Williams LLP

Financial Reporting for Foreign Private Issuers Before the SEC

by White and Williams LLP on

Under the current rules of the US Securities and Exchange Commission (SEC), foreign issuers are allowed to use International Financial Reporting Standards (IFRS) financial statements in their registration statements and...more

Stinson Leonard Street - Dodd-Frank and the...

Ford and Alphabet Receive SEC Comments on New Revenue Recognition Standard

Ford and Alphabet have received SEC comments on their initial disclosures under FASB’s new revenue recognition standard. Both required more than one round to clear....more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week In Review

Interagency Statement on Accounting and Reporting Implications of the New Tax Law - On January 18, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal...more

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JD Supra Privacy Policy

Updated: May 25, 2018:

JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.

This Privacy Policy describes how JD Supra, LLC ("JD Supra" or "we," "us," or "our") collects, uses and shares personal data collected from visitors to our website (located at www.jdsupra.com) (our "Website") who view only publicly-available content as well as subscribers to our services (such as our email digests or author tools)(our "Services"). By using our Website and registering for one of our Services, you are agreeing to the terms of this Privacy Policy.

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Collection of Information

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We use the information and data we collect principally in order to provide our Website and Services. More specifically, we may use your personal information to:

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How We Protect Your Information

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Links to Other Websites

Our Website and Services may contain links to other websites. The operators of such other websites may collect information about you, including through cookies or other technologies. If you are using our Website or Services and click a link to another site, you will leave our Website and this Policy will not apply to your use of and activity on those other sites. We encourage you to read the legal notices posted on those sites, including their privacy policies. We are not responsible for the data collection and use practices of such other sites. This Policy applies solely to the information collected in connection with your use of our Website and Services and does not apply to any practices conducted offline or in connection with any other websites.

Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

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You can make a request to exercise any of these rights by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

You can also manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard.

We will make all practical efforts to respect your wishes. There may be times, however, where we are not able to fulfill your request, for example, if applicable law prohibits our compliance. Please note that JD Supra does not use "automatic decision making" or "profiling" as those terms are defined in the GDPR.

  • Timeframe for retaining your personal information: We will retain your personal information in a form that identifies you only for as long as it serves the purpose(s) for which it was initially collected as stated in this Privacy Policy, or subsequently authorized. We may continue processing your personal information for longer periods, but only for the time and to the extent such processing reasonably serves the purposes of archiving in the public interest, journalism, literature and art, scientific or historical research and statistical analysis, and subject to the protection of this Privacy Policy. For example, if you are an author, your personal information may continue to be published in connection with your article indefinitely. When we have no ongoing legitimate business need to process your personal information, we will either delete or anonymize it, or, if this is not possible (for example, because your personal information has been stored in backup archives), then we will securely store your personal information and isolate it from any further processing until deletion is possible.
  • Onward Transfer to Third Parties: As noted in the "How We Share Your Data" Section above, JD Supra may share your information with third parties. When JD Supra discloses your personal information to third parties, we have ensured that such third parties have either certified under the EU-U.S. or Swiss Privacy Shield Framework and will process all personal data received from EU member states/Switzerland in reliance on the applicable Privacy Shield Framework or that they have been subjected to strict contractual provisions in their contract with us to guarantee an adequate level of data protection for your data.

California Privacy Rights

Pursuant to Section 1798.83 of the California Civil Code, our customers who are California residents have the right to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

Some browsers have incorporated a Do Not Track (DNT) feature. These features, when turned on, send a signal that you prefer that the website you are visiting not collect and use data regarding your online searching and browsing activities. As there is not yet a common understanding on how to interpret the DNT signal, we currently do not respond to DNT signals on our site.

Access/Correct/Update/Delete Personal Information

For non-EU/Swiss residents, if you would like to know what personal information we have about you, you can send an e-mail to privacy@jdsupra.com. We will be in contact with you (by mail or otherwise) to verify your identity and provide you the information you request. We will respond within 30 days to your request for access to your personal information. In some cases, we may not be able to remove your personal information, in which case we will let you know if we are unable to do so and why. If you would like to correct or update your personal information, you can manage your profile and subscriptions through our Privacy Center under the "My Account" dashboard. If you would like to delete your account or remove your information from our Website and Services, send an e-mail to privacy@jdsupra.com.

Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

If you have any questions about this Privacy Policy, the practices of this site, your dealings with our Website or Services, or if you would like to change any of the information you have provided to us, please contact us at: privacy@jdsupra.com.

JD Supra Cookie Guide

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How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

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There are different types of cookies and other technologies used our Website, notably:

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JD Supra Cookies. We place our own cookies on your computer to track certain information about you while you are using our Website and Services. For example, we place a session cookie on your computer each time you visit our Website. We use these cookies to allow you to log-in to your subscriber account. In addition, through these cookies we are able to collect information about how you use the Website, including what browser you may be using, your IP address, and the URL address you came from upon visiting our Website and the URL you next visit (even if those URLs are not on our Website). We also utilize email web beacons to monitor whether our emails are being delivered and read. We also use these tools to help deliver reader analytics to our authors to give them insight into their readership and help them to improve their content, so that it is most useful for our users.

Analytics/Performance Cookies. JD Supra also uses the following analytic tools to help us analyze the performance of our Website and Services as well as how visitors use our Website and Services:

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Facebook, Twitter and other Social Network Cookies. Our content pages allow you to share content appearing on our Website and Services to your social media accounts through the "Like," "Tweet," or similar buttons displayed on such pages. To accomplish this Service, we embed code that such third party social networks provide and that we do not control. These buttons know that you are logged in to your social network account and therefore such social networks could also know that you are viewing the JD Supra Website.

Controlling and Deleting Cookies

If you would like to change how a browser uses cookies, including blocking or deleting cookies from the JD Supra Website and Services you can do so by changing the settings in your web browser. To control cookies, most browsers allow you to either accept or reject all cookies, only accept certain types of cookies, or prompt you every time a site wishes to save a cookie. It's also easy to delete cookies that are already saved on your device by a browser.

The processes for controlling and deleting cookies vary depending on which browser you use. To find out how to do so with a particular browser, you can use your browser's "Help" function or alternatively, you can visit http://www.aboutcookies.org which explains, step-by-step, how to control and delete cookies in most browsers.

Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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