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Lease Accounting Project Update
The previously stated goal of the FASB/IASB Boards was to release a new exposure draft by year-end 2011 followed by a 120-day comment period. This date has been pushed back, however. The new exposure draft will be issued in March or early April 2012 with a 120-day comment period. In addition, it is believed that because the FASB/IASB Boards may only have one more meeting, these latest amendments contain what will likely be the final version of the new exposure draft.
Key recent Boards' decisions include:
- New transition methods for lessees and lessors;
- New guidance for lessor accounting, including allowing operating lease accounting for lessors of certain real estate and sublessors in real estate subleases;
- Disclosures for lessors; and
- Business combinations accounting.
Executive Summary of Key Elements of the Total Project
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
Use of Deferred Prosecution Agreements In White Collar Investigations
This article discusses the practical and policy reasons for the use of DPAs and NPAs in white-collar criminal investigations, and considers the NDAA's new reporting provision and its relationship with other efforts to enhance transparency in DOJ decision-making.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.