Accounting (CPE)

Exploring the Business Valuation Landscape: Key Considerations


Over the past years, businesses across all industries have experienced various changes and challenges in business valuation due to the constantly changing market. Several factors, including geopolitical issues, difficulties in workforce management, and inflation, continue to add up to these difficulties. With the uncertainties ahead, valuing business remains a tough call.

Valuation and Accounting for Venture Capital and Private Equity Funds: Practical Guide


In August 2019, the American Institute of CPAs (AICPA) issued an Accounting and Valuation Guide for investment companies entitled, "Valuation of Portfolio Company Investments of Venture Capital and Private Equity Funds and Other Investment Companies". The guide provided non-authoritative recommendations and considerations when preparing and auditing financial statements. It also sought to explain fair value measurement in accordance with Accounting Standards Codification (ASC) 820 and 946.

Implications of COVID-19 on Business Valuation: Addressing Significant Issues


The economic uncertainty brought by the COVID-19 crisis presents a higher degree of challenge among businesses, giving significant changes and critical issues in business valuation. Fortunately, the U.S. Securities and Exchange Commission (SEC) had proposed certain regulatory and reporting obligations relief and useful guidance on corporate disclosures, potentially helpful for companies as they navigate and address the impacts of the pandemic on their businesses and prospects.

GASB 87 Is Here…What You Should Know


New lease accounting rules are coming soon for all government entities. After a COVID-19 one-year delay, Statement No. 87 of the Government Accounting Standards Board, Leases (“GASB 87”) is now required for fiscal years beginning after June 15, 2021 and is applicable to both government entity lessees and government entity lessors.

SEC’s Heightened Enforcement: Exploring Practical Compliance Tips and Strategies


The securities law landscape continues to evolve as new regulatory developments emerge. Recently, under the direction of its new Chair, the Securities and Exchange Commission’s (SEC) has been messaging the priorities of its enforcement program, including renewed focus across the agency related to climate change disclosures, cybersecurity, and financial innovation.

Lost Profit Damages Litigation: Trends, Updates, and Challenges Amid the COVID-19 Pandemic


The COVID-19 pandemic has brought an immense economic toll on businesses across the globe. Specifically, it prompted a spike in the number of lost profit damages lawsuits as businesses seek to recover lost profits because of pandemic-related damages. However, although there are various damage calculation theories available, pandemic-related lost profit claims can be taxing and challenging. Thus, businesses and their counsel must always exercise diligence in documenting their revenues and profits. They must also be abreast of emerging regulatory developments to avoid pitfalls.

Calculating Lost Profits in Construction Claims: A Practical Guide


Calculating lost profits in a construction dispute is an important factor to prove and recover claims of lost profits damages. However, this process presents a wide array of complexity and challenge for both parties as it requires thorough and accurate analyses of evidence presented. The implementation of an appropriate calculation methodology must also be carefully considered.

The Road to Lease Accounting Implementation: Practical Tips and Strategies to Ensure You’re Compliant


For most public companies, the adoption deadline for Financial Accounting Standards Board’s (FASB’s) Accounting Standards Update (ASU) No. 2016-02, Leases (Topic 842) has already passed. Their focus now shifts from adoption to quarterly reporting under the new lease accounting standard. Private companies, however, are still preparing for their implementation of the new ASC 842 leases and should learn from public companies’ experience.

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