Exposure Draft Accounting
December 21, 2010
Under the proposed new rules, there are no bright lines. Lessors can classify a lease transaction as either a Performance Obligation or a Partial Derecognition lease. These two products perform very differently on the balance sheet, in a way similar to the different performance of Operating leases and Direct Finance leases. Keep in mind also that the huge bulk of equipment finance transactions are smaller "cookie-cutter" deals — the amount of profit associated with them precludes the possibility of having an accountant make a classification ruling on each deal individually. The classification process must be automated. IT Systems must be able to accommodate classification rules automatically.
The Market View
December 21, 2010
Speed, smart speed, still wins in competition. Unfortunately, I find too many company executives are not heeding this reality when it comes to the changes in financial accounting for leases.
Succession in Leadership
December 20, 2010
Many firms that were formed in the late 1960s through the early 1990s are now facing a transition from their founding leadership to a younger generation. There are many problems and benefits that will be associated with this transition. This article discusses the issues and the approaches that a firm may take to make the transition effective and efficient with minimal disruption.
Unsound Management Lowers a Firm's Income
December 20, 2010
Too many lawyers in private practice are frustrated as they attempt to achieve both their personal and professional objectives due to the absence of sound management and administration of their firms.
Pitfalls of State and Local Taxation
December 20, 2010
Most firms file their partnership income tax returns in their domiciliary state and maybe another state or two if they feel they enter the state enough to warrant filing. There are nonresident personal income tax filing requirements that come into play as well. Generally, that's the accepted state and local tax filing approach taken by many firms. Unfortunately, that's not the full spectrum of filings that must be considered in this new age of state and local taxation.
Section 365(o) Coming into Focus
December 20, 2010
Troubled banks under the FDIC's jurisdiction often end up in conservatorships or receiverships. But bank holding companies that own U.S. banks can file for bankruptcy. And special rules apply in such cases.
Selling Your e-Commerce Company in 2011
November 29, 2010
Entrepreneurs once able to cash out on their own terms, to eager buyers unwilling to risk negotiating lest a competitor get the deal, now must accept markedly less favorable terms.
Insider Trading: It's Not Just for Suits
November 26, 2010
On Sept. 30, 2010, the SEC brought an insider trading case against two railroad employees and their relatives, alleging that the defendants reaped more than $1 million in illegal gains by trading on nonpublic information about the planned takeover of the railroad company.
Pro Bono
November 23, 2010
This article discusses key considerations for firms that engage in <i>pro bono</i> work.
