The FASB has sought to simplify the accounting for goodwill impairment for several years.
Within the ASU guidelines, there are two main thresholds to determine if an entity is a business.
VRC continues to see many transactions where contingent consideration has been present.
FASB guidance addresses inconsistency and weakness in existing revenue recognition and lease accounting requirements.
Family offices making private equity investments need to be aware of valuation issues related investments in complex structures.
Did you realize that your business has multiple values at the same time?
What seems apparent is that validations of valuation have made unicorns look more like a herd of Uber drivers in San Francisco.
The most significant court case was probably Gross vs. Commissioner, which held that an S-Corp has a tax rate, but that tax rate was zero.
A point often overlooked is that customers usually purchase products or services because of the presence of intellectual property, not a relationship.
The asymmetric nature of carried interests requires the consideration of a range of scenarios.