Accounting Matters

A lot goes into a successful business transaction. A lot. So in this first part of our latest M&A series, your faithful Embarkers are taking a deep dive into all of those pre-transaction activities that help ensure you start off on the right foot. A little bit of due diligence goes a long way so pull up a chair!

For more information on buy-side transactions and related topics:

Buy-Side Due Diligence: Report Checklist and Guide for M&A and Other Transactions

Purchase Accounting: Valuations, Adjustments & Accounting for M&As

Post-Merger Integration Checklist

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Just as you suspected, your AM Now hosts Adam Olsen and Matt Fisser are back to bring the accounting and finance news heat, including stories on:

• The SEC proposal on increasing the threshold for qualifying venture capital funds
• The Small Business Capital Formation Advisory Committee discusses updates to the Accredited Investor Definition and examines the current state of the IPO market
• FinCEN's new BOI reporting requirement targets small businesses to enhance financial transparency, with certain exemptions and deadlines for compliance.
• The IASB delays the release of a new standard, expected to be IFRS 19, aimed at simplifying financial disclosures for subsidiaries without public accountability.
• Malaysia is considering adopting ISSB standards for sustainability reporting, seeking public feedback on implementation, with a phased approach for mandatory compliance.

For more information on these and related topics:

SEC Proposes Rule to Raise Threshold for Qualifying VC Funds

Agenda - Meeting of SEC Small Business Capital Formation Advisory Committee

BOI: Beneficial Ownership Information

Malaysia Launches Consultation on Adoption of IFRS Sustainability Reporting Standards

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Join us on this episode of Accounting Matters as we discuss the complexities of the CSRD's double materiality framework. We dive into the significance of materiality in sustainability reporting. From understanding the dimensions to practical considerations in the assessment process, we guide our listeners through the intricate world of sustainability reporting under the CSRD.

Your AM Now hosts Adam Olsen and Nicole Harger are back at it again with critical accounting and finance stories from the week that was, including:

• Updates from the recent FASB Board meeting on Topic 815, Hedge Accounting Improvements
• New York's S5437 and S897A bills push for pioneering sustainability disclosures in the finance and corporate sectors.
• China enforces sustainability reporting for all listed companies, setting a new global standard in ESG transparency.
• The SEC's new rules expand the 'dealer' definition, enhancing oversight of significant market participants for market integrity.

For more information on these and related topics:

FASB Board Meeting Handout – Topic 815—Hedge Accounting Improvements

NY Senate Bill S897A

NY Senate Bill S5437

China Stock Exchanges Announce Mandatory Sustainability Reporting Requirements for Companies

Statement on Final Rules Regarding the Further Definition of a Dealer-Trader

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It’s once again time for your AM Now hosts Adam Olsen and Matt Fisser to deliver  what’s going on in accounting and finance this week, including stories on:

• The SEC adopted final rules to enhance disclosures and provide additional investor protections in IPOs by SPACs and in de-SPAC transactions.
• The postponement of certain CSRD elements by two years, including sector-specific sustainability disclosures and sustainability reporting from companies outside the EU. 
• The latest developments from the FASB and their most recent board meeting held on January 31, 2024.

For more information on these and related topics:

SEC Adopts Rules to Enhance Investor Protections Relating to SPACs, Shell Companies, and Projections

EU lawmakers approve 2-year delay of CSRD reporting for non-EU companies and specific sectors

FASB Past Meetings

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In this episode of 'Accounting Matters,' we guide private companies through key accounting developments, covering standards like CECL, simplified goodwill impairment, and supplier finance program disclosures. Additionally, we discuss what lies ahead in the new year.

Your trusty AM Now hosts Adam Olsen and Nicole Harger are serving up yet another episode of tasty accounting and finance stories for you, including:

• SEC registrants should expect a significant uptick in their Staff Accounting Bulletin SAB 74 disclosures due to the impending adoption of numerous Accounting Standard Updates (ASUs).
• EFRAG has initiated a public consultation on two Exposure Drafts  – ESRS LSME ED and VSME ED –  for sustainability reporting standards.
• EU member states are currently transposing the CSRD into their own national law and must complete the process no later than July 6th of this year. 

For more information on these and related topics:

Segments, Taxes, SAB 74 and More

EFRAG’s Public Consultation on Two Exposure Drafts on Sustainability Reporting Standards for SMEs

France Introduces Possible Jail Time As Penalty For Non-Compliance With Sustainability Disclosure

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You’ve read the headlines. Perused the articles. Maybe even had a convo or two on the topic. But now it’s time to get to the ESRS nitty gritty with your trusted Accounting Matters embarkers. So get comfy with Nicole Harger, Adam Olsen, and Robby Sunberg for this first half of a two-fer on all things CSRD and ESRS. You, your sustainability reporting, and stakeholders won’t be sorry.

For more information on CSRD, ESRS, and related topics:

The ESRS Skinny: What the European Sustainability Reporting Standards Mean for You

The EU CSRD: Why US Companies Should Care about European ESG Reporting Regulations

SB 253 and SB 261: A Look at California's Landmark Climate Reporting Bills

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Your AM Now hosts Adam Olsen and Nicole Harger kick off 2024 with another episode of accounting and finance stories you need to hear, including:

• The invalidation of the SEC's share repurchase rule by the U.S. Court of Appeals.
• CorpFin’s statement on the SEC's cybersecurity disclosure rule.
• Two new accounting standards by FASB: ASU 2023-09, revising income tax disclosures, and ASU 2023-10, addressing accounting for and disclosure of crypto assets.
• The provisional agreement on the EU's Corporate Sustainability Due Diligence Directive, focusing on human rights and environmental impacts in business value chains.

For more information on these and related topics:

US court slaps down stock buyback rule over SEC 'defects'

SEC: Cybersecurity Disclosure

FASB: Accounting standards updates issued (2023)

EU Lawmakers Reach Deal on New Environmental, Human Rights Sustainability Due Diligence Law

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In this episode of Accounting Matters, Adam and Nicole dissect California's Climate Accountability Package, focusing on Senate Bills 253 and 261. They unravel the mandatory disclosure of greenhouse gas emissions, including Scope 1, Scope 2, and Scope 3, for companies operating in the state. 

We provide valuable insights into compliance challenges, the role of the California Air Resources Board, and the implications of potential fines for noncompliance. Whether you're a seasoned professional or new to sustainability compliance, tune in for succinct discussions demystifying the intricate landscape of California's climate legislation.

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In this episode of Accounting Matters, Adam and Nicole dive into the complexities of audit preparation for companies closing their books in 2023. Drawing from their extensive public accounting experience, they explore common challenges, such as headcount shortages and the impact of significant transactions on readiness.

We also discuss the importance of documentation, effective auditor collaboration, and strategies to meet crucial deadlines. Whether you're a seasoned professional or new to the industry, tune in for valuable insights on navigating the intricate landscape of audit readiness and ensuring a smoother process for your company.

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As always, your AM Now hosts Adam Olsen and Nicole Harger are here delivering this week’s accounting and finance news, including:

• The latest on the SEC’s still-brewing requirements on climate change disclosures
• The novel new proposed reporting framework from the AICPA for issuers of stablecoins
• The FASB adding a project to its technical agenda to refine the scope of ASC 815, Derivatives and Hedging

For more information on these and related topics:

SEC Proposed Climate Change Disclosures Put CFOs Under the Spotlight

New proposed reporting framework from the AICPA for issuers of stablecoins

FASB: Tentative Board Decisions

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In this episode of 'Accounting Matters,' we provide a thorough recap of the 2023 AICPA Conference on Current SEC and PCAOB Developments. So join us as we cover key insights such as risk assessment in financial reporting, high-quality accounting standards, and emerging trends in ESG reporting and more!

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In this week's episode of AM Now, Matt Fisser takes the reins while Adam and Nicole attend the AICPA conference. Matt covers the SEC's emphasis on the statement of cash flows, emphasizing its integral role in financial statements and the need for consistent scrutiny and audit procedures. 

He also explores other topics, including the FASB's recent ASU on reportable segment disclosures, providing a breakdown of key requirements, including the disclosure of significant segment expenses and alignment with consolidated financial statements. 

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Putting a bow on our deals lifecycle series, we're joined by Embark deals expert Brett John for a candid chat on crafting exit strategies. From initiating a sale to closing with confidence, we explore the practical steps and emotional roller coaster of letting go of a business. Learn about aligning objectives, negotiating terms, and the often overlooked importance of timing and employee consideration. This one’s a must-listen for anyone navigating the exhausting yet exhilarating complexities of a business exit.

For more information on deals transactions and related topics:

The Lowdown on Carve-Out Financial Statements

Sell-Side Due Diligence Report Checklist and Guide for M&A and Other Transactions

When to Engage with a Valuation Services Provider

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Join your AM Now host Adam Olsen for another week of what’s happening in accounting and finance, including stories on:

• The strategic alliance between EFRAG and CDP (Carbon Disclosure Project) aimed at expediting the adoption of the ESRS
• New plans from the GRI (Global Reporting Initiative) for its upcoming Sustainability Innovation Lab (SIL), marking a significant stride on the sustainability reporting front
• The November 8 FASB meeting on two key projects: Targeted improvements to the statement of cash flows, and Conceptual framework - Measurement

For more information on these and related topics:

The ESRS Skinny: What the European Sustainability Reporting Standards Mean for You

EFRAG and CDP announce cooperation to drive market uptake of European Sustainability Reporting Standards

SIL launch in Singapore: A major step forward in global sustainability reporting

FASB: Tentative Board Decisions

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Building on the eye-opening conversation we had in the first episode of our newest podcast series, this second episode cranks it up to 11. How is that even possible, you ask? Well, how about an in-depth, no-holds-barred look at what happens next once the diligence dust settles and the buyer and seller are both ready to move forward with the deal? Buckle up, folks, because this is a good one.

For more information on post-diligence needs and related topics:

M&A Data Integration Drives Successful Transactions

Cash to Accrual: How to Convert to GAAP Accounting

The Ultimate Account Reconciliation Template and Best Practices

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Join Embarkers Adam Olsen and Nicole Harger for another spirited episode of AM Now, where they discuss important topics like:

• A three-judge panel recently concluded the SEC exhibited arbitrary and capricious behavior when enacting the share repurchase disclosure rules
• The SEC’s announcement concerning certain data quality matters on the labeling of income statement line items
• The November 1 FASB board meeting, discussing the proposed profit interest awards ASU and government grants received by business entities

For more information on these and related topics:

US court tells SEC to fix 'defective' share buyback rule

Changing Labels for the Same Reported Item on the Income Statement over Multiple Periods

FASB: Tentative Board Decisions

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Buckle up for an extra spooky serving of accounting and finance news from Embarkers Adam Olsen and Matt Fisser, including stories on:

• The European Parliament recently moving forward with the finalization of the first twelve sector-agnostic ESRSs following the close of the open-scrutiny period
• Australia and Brazil both advancing their use of the ISSB’s global baseline for sustainability reporting
• Comments from the SEC on its ever-gestating climate-related reporting rule
• 2024 examination priorities from the SEC

For more information on these and related topics:

Final adoption of ESRS a ‘game changer’ for mandatory reporting

Australia published ISSB-inspired draft sustainability reporting standards

Brazil Becomes First Country to Adopt Global ESG Reporting Rules

SEC Chair Gensler Declines to Give Timeline for Final Climate Disclosure Rule

SEC Division of Examinations Announces 2024 Priorities

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Listen to AM Now on Apple Podcasts, Google Play, and Spotify.

A lot goes into a successful business transaction. A lot. So in this first part of our latest M&A series, your faithful Embarkers are taking a deep dive into all of those pre-transaction activities that help ensure you start off on the right foot. A little bit of due diligence goes a long way so pull up a chair!

For more information on buy-side transactions and related topics:

Buy-Side Due Diligence: Report Checklist and Guide for M&A and Other Transactions

Purchase Accounting: Valuations, Adjustments & Accounting for M&As

Post-Merger Integration Checklist

Connect with Embark on:

• LinkedIn
• Instagram
• Twitter
• Facebook
• YouTube

Listen to Accounting Matters on Apple Podcasts, Google Play, and Spotify.