JD Supra

Use of Accounting Term of Art in Arbitration Provision of Asset Purchase Agreement Narrows its Scope in Favor of Bankruptcy Court Jurisdiction Over Post-Closing Dispute

The Delaware District Court affirmed the bankruptcy court’s decision that the combination of a narrow arbitration provision and the bankruptcy court’s reservation of jurisdiction warranted denial of a ...
Accounting Today

IASB proposes to tweak requirements for provisions

The International Accounting Standards Board is looking for feedback on some targeted improvements it's proposing to make to improve the requirements for recognizing and measuring provisions on ...
JD Supra

The enforceability of a trust accounting clause’s failure-to-object provision (the non-judicial settlement of trustees’ accounts)

It is common for the accounting clause of an inter vivos trust instrument to contain a provision along the lines of the following: “The written approval of such an account by the person or persons ...
Accounting Today

Senate Parliamentarian rejects PCAOB provision in tax bill

The Senate Parliamentarian has rejected the provision in the Trump tax bill that would have eliminated the Public Company Accounting Oversight Board and transferred its responsibilities to the ...
Houston Chronicle

What Is Deferred Provision?

Financial statements report a company's performance for specified time periods. In comparison, the revenue and expense activities of a company are fluid; they overlap the time periods of financial ...