New Accounting Rules for Mergers & Acquisitions. Effective for years beginning after December 15, 2008, new rules on accounting for all acquisitions of businesses become effective. The rules promulgated under Statements of Financial Accounting Standards Nos. 141 (R) and 160 (SFAS 141 (R) and 160) represent comprehensive changes in how business acquisitions and the activities related to them are accounted for, and have significant implications for the financial reporting teams in all companies. The rules move the accounting rules further along the road to fair value accounting and convergence with International Financial Reporting Standards (IFRS). [Read More]

Jim Pitrat, Assurance & Advisory Practice Leader, Harmeet Singh and Luca Baratta, in conjunction with Ralph Consola from Marshall & Stevens have been making CLE presentations to law firms in Los Angeles and Silicon Valley on The Implications of the New Accounting Standards on Mergers and Acquisitions (FAS 141R, 157 and 160). [Read More],

SingerLewak has now expanded our California presence by opening a Silicon Valley office. Focusing on Public Companies, Private Companies, and industries such as Green Tech and Clean Tech, SingerLewak proudly announces two new partners, Luca Baratta and Steve Carter. [Read More]

The SingerLewak Spreadsheet – Learn about the latest updates on the most recent proposed and passed rules as passed by the SEC, the FASB, AICPA, COSO, PCAOB, GASB and IASB. [Read More]

Coming in 2009 Corporate Governance for Public Companies Series. [Read More]

ACCOUNTING FOR ACQUISITIONS (SFAS 141R) Accounting for acquisitions-known as business combinations in accounting literature-has been relatively stable for almost 40 years... The Financial Accounting Standards Board (FASB) is poised to issue two new standards that will revise the rules for purchase accounting and replace the existing accounting standard, SFAS No. 141, Business Combinations. [Read More]

MELTDOWN 101: WHAT IS MARK TO MARKET ACCOUNTING? In all the finger-pointing about the credit crisis, there's one unusual suspect: an accounting standard. Critics say the standard called "mark to market," or "fair value," is one cause of the nation's financial woes. Others contend that has nothing to do with banks' troubles. [Read More]

REPEAL SARBANES-OXLEY? It has been six years since Congress passed the Sarbanes-Oxley Act after the devastating accounting irregularities of Enron and WorldCom. While the intent of the law was to prevent corporate fraud, there is growing evidence that it has done more harm than good, and is undermining the venture-capital industry in Silicon Valley. Now, with signs that our economy is moving toward recession, Congress should take this opportunity to repeal the law. [Read More]

IFRS: ANOTHER COST GUESSING GAME Advocates of the U.S. moving toward using IFRS rather than GAAP claim the changes will bring investors and firms many benefits, and make the (debatable) claim that there will be comparability between companies, across borders. [Read More]