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Disclosure Requirements Securities and Exchange Commission (SEC) Accounting Standards

WilmerHale

Making the Connection - What Do Recent SEC Enforcement Actions Mean for Cyber Controls?

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On July 18, 2024, the U.S. District Court for the Southern District of New York dismissed most of the claims brought by the Securities and Exchange Commission (the “Commission”) against SolarWinds Corp. and its Chief...more

Cooley LLP

FASB issues final ASU requiring enhanced disclosure of segment expenses

Cooley LLP on

The FASB has announced a final Accounting Standards Update designed to improve disclosures about public companies’ reportable segments, particularly disclosures about significant segment expenses—information that the FASB...more

Cooley LLP

FASB wants more disclosure about expenses

Cooley LLP on

FASB is moving ahead with new requirements for more information about public company expenses, approaching the issue from two perspectives: disaggregation of income statement expenses and segment reporting. More specifically,...more

WilmerHale

Changes to ASC 280 (Segment Reporting) Appear Likely

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Segment reporting - a frequent topic of SEC comments and the subject of long-running debate at the Financial Accounting Standards Board (FASB) - continues to appear on the FASB’s Technical Agenda, with some likely changes on...more

Cooley LLP

More financial information about human capital? FASB looks to require disaggregation of expenses on the income statement

Cooley LLP on

In June, the Working Group on Human Capital Accounting Disclosure, a group of ten academics that includes former SEC Commissioners Joe Grundfest and Robert Jackson, Jr. and former SEC general counsel, John Coates, submitted a...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Staff Issues Digital Asset Accounting Guidance

On March 31, 2022, the Division of Corporation Finance and the Office of the Chief Accountant (Staff) of the U.S. Securities and Exchange Commission (SEC) published Staff Accounting Bulletin No. 121 (SAB 121), which provides...more

Cooley LLP

Blog: SEC to scrutinize company accounting for impact of climate

Cooley LLP on

In February, then-Acting SEC Chair Allison Lee directed the staff of Corp Fin, in connection with the disclosure review process, to “enhance its focus on climate-related disclosure in public company filings,” starting with...more

Cooley LLP

Blog: FASB to look at requiring disclosure of supply chain financing

Cooley LLP on

For over a year, the SEC, credit rating agencies, investors, the Big Four accounting firms and other interested parties have been sounding the alarm about a popular financing technique called “supply chain financing”—not that...more

Stinson LLP

SEC Simplifies Accounting Disclosures for "Significant" M&A Transactions

Stinson LLP on

The SEC has adopted amendments to the financial disclosure requirements in Regulation S-X for acquisitions and dispositions of businesses. When a registrant acquires a significant business, other than a real estate operation,...more

Kramer Levin Naftalis & Frankel LLP

How the SEC’s Amendments to Financial Disclosures for Acquisitions Affect High-Yield Bond Offerings

On May 21, the Securities and Exchange Commission (SEC) adopted amendments to its rules governing financial disclosures relating to acquisitions and dispositions of businesses. ...more

Stinson - Corporate & Securities Law Blog

SEC Simplifies Accounting Disclosures for “Significant” M&A Transactions

The SEC has adopted amendments to the financial disclosure requirements in Regulation S-X for acquisitions and dispositions of businesses. When a registrant acquires a significant business, other than a real estate operation,...more

Bass, Berry & Sims PLC

SEC Staff Comments on Boeing’s 737 MAX Contingency Disclosure

Bass, Berry & Sims PLC on

Given the high profile nature of Boeing’s ongoing saga with the grounding of its 737 MAX aircraft, perhaps it should come as no surprise that the Securities Exchange Commission (SEC) Staff was particularly focused on the...more

Kramer Levin Naftalis & Frankel LLP

SEC-Mylan Settlement: The SEC Filed Suit Regarding Investigation Disclosure

On Sept. 27, 2019, the Securities and Exchange Commission (SEC) announced that Mylan N.V., a global pharma company that manufactures and sells EpiPen, which is used to treat serious allergic reactions, agreed to pay $30...more

Vedder Price

CECL Implementation Delayed for Qualifying Entities

Vedder Price on

On October 16, 2019, the Financial Accounting Standards Board (“FASB”) extended the implementation deadline for the current expected credit loss standard (“CECL”) for qualifying entities. The new implementation deadlines are...more

Cooley LLP

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

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

Stinson - Corporate & Securities Law Blog

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

Jones Day

Are You Ready for "New GAAP" Revenue Recognition? SEC Disclosure Considerations

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"NEW GAAP" REVENUE RECOGNITION - In 2014, the U.S. Financial Accounting Standards Board ("FASB") issued new revenue standards under Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers...more

Stinson - Corporate & Securities Law Blog

SEC Comments Begin for Early Adopters of Revenue Recognition

Some people don’t believe in blazing trails and adopting public reporting standards before you have to. They think you’re sticking your neck out, and will become a Guinea pig for SEC comments or fodder for plaintiff’s lawyers...more

Stinson - Corporate & Securities Law Blog

Effect of the New Revenue Recognition Standard on M&A

FASB’s new revenue recognition standard is expected to have wide ranging effects on M&A transactions. The new revenue recognition standard under GAAP (Accounting Standards Update 2014-09; Topic 606) will be applicable to...more

Thomas Fox - Compliance Evangelist

New Revenue Recognition Standard – Part I: Introduction

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers (Topic 606) for public business entities, certain not-for-profit entities, and...more

Stoel Rives LLP

In Case You Missed It - Interesting Items for Corporate Counsel - January 2017

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The SEC published a white paper about Regulation A+, What Do We Know So Far?, here. Since changes to Regulation A in June 2015, there have been 147 Regulation A offerings, seeking $2.6 billion, that have raised about $190...more

Wilson Sonsini Goodrich & Rosati

Important Reminders for the 2017 Proxy Season

The following are some important reminders and updates for the 2017 proxy season. Say-When-on-Pay - Required Vote in 2017 - The Securities and Exchange Commission (SEC) requires companies to conduct a...more

Thomas Fox - Compliance Evangelist

Not Correctly Reporting Losses: An Internal Controls Failure

A recent Securities and Exchange Commission (SEC) internal controls enforcement action drew my attention. It was not a Foreign Corrupt Practices Act (FCPA) enforcement action but it certainly does have implications for a...more

Parker Poe Adams & Bernstein LLP

Accounting Standard Transition Disclosures under Scrutiny by the SEC

Several significant new accounting standards have refocused the SEC staff’s attention on public company “transition disclosures.” In remarks earlier this year, Wesley R. Bricker, then Deputy Chief Accountant of the SEC,...more

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