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Generally Accepted Accounting Procedures › Reporting Requirements

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 -
Bass, Berry & Sims PLC

What Constitutes Control and How Much is Too Much? Considerations for Private Equity Firms and Their Physician Practice Management...

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If you are a private equity (PE) firm that invests in physician practice management companies, it is a common question: What constitutes control, and how much is too much? This is a question that commonly has been asked under...more

Paul Hastings LLP

Public Company Watch: October 2023

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In the October edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC adopting rules modernizing beneficial ownership reporting and short sale reporting, and issuing new C&DIs...more

Lowenstein Sandler LLP

Slew of Recent SEC Enforcement Actions: Guidance for Registered Investment Advisers

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On September 5, the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against five investment advisers for violating Rule 206(4)-2 (the Custody Rule) and Rule 204-1(a) (the ADV Reporting Rule) of the...more

BCLP

Time to Get Ready for the 2024 Reporting Season

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As companies look ahead to the upcoming proxy and annual report season, the SEC has generated a number of new items to add to your compliance checklist – in addition to those covered in last year's list. Those items, along...more

Cooley LLP

SEC charges Fluor with improper accounting and inadequate internal accounting controls

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In this Order, the SEC brought settled charges against Fluor Corporation, a global engineering, procurement and construction company listed on the NYSE, in connection with alleged improper accounting on two large-scale,...more

Vinson & Elkins LLP

COSO Releases New Guidance on Internal Controls for Sustainable Reporting

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On March 30, 2023, the Committee of Sponsoring Organizations of the Treadway Commission (“COSO”), an organization comprising five private-sector organizations with the goal of helping companies improve their performance by...more

Keating Muething & Klekamp PLL

Securities Snapshot: 1st Quarter 2023 - 2022 Final Rules Now in Effect: What You Need to Know

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Securities and Exchange Commission rulemaking continued at a brisk pace in the first quarter of 2023 as the Commission implemented several significant reporting and compliance regulations adopted in 2022. Final rules and...more

McGuireWoods LLP

SEC Releases Updated Interpretations Regarding Non-GAAP Financial Measures

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On December 13, 2022, the staff of the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance released updated Compliance & Disclosure Interpretations (CDIs) regarding the use of financial measures that...more

Foley & Lardner LLP

Cannabis Company Cops to SEC Accounting Fraud Charges

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On October 24, 2022, the Security & Exchange Commission (SEC) issued settled orders against Cronos Group, Inc. (Cronos), a Canadian cannabis company, and its former Chief Commercial Officer. Cronos cultivates, manufactures,...more

Dechert LLP

SEC Proposes Mandated Swing Pricing, Hard Close and Fundamental Changes to Liquidity Rule

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The Securities and Exchange Commission on November 2, 2022 proposed significant revisions to its rules governing open-end investment company liquidity risk management and swing pricing. The proposal would also update related...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Moves to Modernize Framework for Securities Offerings and Sales to Workers

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The SEC takes a highly anticipated first step toward updating Rule 701 and Form S-8 - Amendments to Rule 701 would increase the cap on exempt offerings and ease disclosure burdens. Revisions to Form S-8 would permit...more

Troutman Pepper

Key Considerations for the 2021 Reporting Season

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As public companies prepare for the 2021 reporting season, they will need to consider new SEC disclosure requirements and guidance. In addition, public companies must evaluate the impact of the COVID-19 pandemic (COVID-19),...more

BCLP

SEC Shows no Goodwill for Issuer

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The SEC sued Sequential Brands on December 11 in Manhattan federal court, alleging that it failed to accurately calculate and disclose impairments to its goodwill in 2016 and early 2017. According to the Complaint, this...more

Allen Matkins

Many Corporations Facing April 29 Deadline For Sending Annual Reports

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California law requires that a corporation deliver an annual report to its shareholders no later than 120 days after the close of its fiscal year. This requirement applies to corporations incorporated under California's...more

Opportune LLP

IFRS Challenges For Corporate PPA Derivative Accounting

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Renewable energy power producers may not be aware of reporting challenges under International Financial Reporting Standards ("IFRS") for contracts often utilized in project finance to develop new wind or solar facilities....more

Mayer Brown Free Writings + Perspectives

Year-End Reminders on The Role of Audit Committees

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On December 30, 2019, the Chair of the Securities and Exchange Commission, the SEC’s Chief Accountant, and the Director of the SEC’s Division of Corporation Finance issued a joint statement regarding the role of audit...more

Skadden, Arps, Slate, Meagher & Flom LLP

Form 20-F for Fiscal Year 2019: What Foreign Private Issuers Should Keep in Mind

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There have been significant recent developments in U.S. Securities and Exchange Commission (SEC) regulation of foreign private issuers, (FPIs) including changes that impact the annual report on Form 20-F for fiscal year 2019....more

Akin Gump Strauss Hauer & Feld LLP

Corp Fin Publishes New C&DIs Clarifying Inline XBRL Rules

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On August 20, 2019, the Division of Corporation Finance (Corp Fin) of the Securities and Exchange Commission (SEC) published new Compliance and Disclosure Interpretations (C&DIs) regarding the Inline XBRL rules. eXtensible...more

Mayer Brown Free Writings + Perspectives

On point. – Understanding the Requirements Related to the Use of Non-GAAP Financial Measures

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In our latest On point. we discuss the nature and purpose of non-GAAP financial measures and the rules governing the use of such financial measures. We also examine recent SEC comment letters and discuss areas of concern...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure—2018 Year-End Update

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In 2018, the SEC continued to pursue many of the same initiatives and objectives it articulated in 2017, including emphasizing retail investor protections and keeping pace with technological change. While stand-alone...more

Opportune LLP

Derivative & Dodd-Frank Considerations for Wind Farm Owners

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Wind farm owners and project sponsors have increasingly turned to corporate power purchase agreements (PPAs) and other hedging alternatives to secure predictable cash flows. Depending on the structure of these agreements,...more

Mayer Brown Free Writings + Perspectives

SEC Is Serious About “Equal Prominence” Rule in Presentation of Non-GAAP Financial Measures in Earnings Releases

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The US Securities and Exchange Commission (SEC) recently gave a strong reminder of the importance of providing equal or greater prominence to the most directly comparable financial measures calculated and presented in...more

Snell & Wilmer

Corporate Communicator - Winter 2018-2019

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SEC Adopts Final Rules for Disclosure of Hedging Policies. On December 18, 2018, the SEC approved final rules regarding the disclosure of a company’s hedging practices or policies, as mandated by the Dodd-Frank Act. This...more

Pillsbury Winthrop Shaw Pittman LLP

SEC Directed to Increase Rule 701 Disclosure Threshold to $10 million

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Increased Rule 701 threshold provides greater flexibility and reduces compliance costs for non-reporting companies. Recently enacted legislation rolling back Dodd-Frank directs the SEC to increase the Rule 701 enhanced...more

WilmerHale

Corp Fin Director Discusses Policy, Outreach and Future Areas of Focus

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Earlier this month, SEC Division of Corporation Finance Director William Hinman delivered the keynote address at the Practising Law Institute’s Seventeenth Annual Institute on Securities Regulation in Europe. Director Hinman...more

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