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Business Impacts to New England Private Companies: Follow-Up Survey Results
Posted by Tarra Curran and Larry Kaplan on Thu, Mar 11, 2021 @ 12:59 PM

The coronavirus pandemic has continued to create unparalleled levels of uncertainty across the U.S. economy and business community. In response, we conducted a follow-up survey of some of the top private companies in the Greater Boston area to determine how the impact of COVID-19 has shifted since June, and gauge how local financial leaders across various industries are currently responding to the pandemic.

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Topics: Tarra Curran, Larry Kaplan, private companies, private company, survey, COVID19, Coronavirus, Coronavirus Aid, Relief, and Economic Security Act, American Rescue Plan (ARP) Act, ARP Act

COVID-19’s Impact on New England Private Companies: Survey Results
Posted by Tarra Curran and Larry Kaplan on Tue, Jul 21, 2020 @ 11:59 AM

Over the last few months, we have seen unparalleled uncertainty in the economy and for companies across the world. In response, we conducted a survey to measure the pulse of financial leaders of private companies in New England as they react to the COVID-19 pandemic.

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Topics: Tarra Curran, Larry Kaplan, private companies, private company, survey, COVID19, Coronavirus, Coronavirus Aid, Relief, and Economic Security Act

Understanding the Leasing Standard: Transitioning to the New Standard
Posted by Larry Kaplan on Fri, Jun 2, 2017 @ 10:25 AM

The effective date of the update to lease accounting is drawing closer. In this blog, we will discuss lease modification and the transition guidance. To prepare for the standard, entities should be evaluating their adoption process and how it will affect their operations.

How leases are transitioned to the guidance under FASB ASU 2016-02, Leases (Topic 842) will depend on the types of leases in place at the date of adoption and whether electing available practical expedients makes sense for the organization.

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Topics: Larry Kaplan, lease accounting changes, Lease Standards, Leasing, Leaseback Accounting, leasing standard

Understanding the Leasing Standard: Sale, Leaseback & Other Items
Posted by Larry Kaplan on Mon, Dec 5, 2016 @ 05:02 PM

The leasing standard changes unveiled with the Financial Accounting Standards Board (FASB) Accounting Standards Update No. 2016-02, Leases (Topic 842) will change the way many organizations account for their leases. In addition to modifying the lessee and lessor accounting models, the new standard also introduces changes to the accounting model for sale-leaseback transactions, as well as other leasing concepts. Organizations with leasing arrangements should take note of how the changes will affect their lease accounting processes.

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Topics: Larry Kaplan, lease accounting changes, Lease Standards, Leasing, Leaseback Accounting, leasing standard

Understanding the Leasing Standard: Part 2 - Lessee Accounting
Posted by Larry Kaplan on Thu, Sep 15, 2016 @ 10:50 AM
Early preparation is critical to adapting to the changes coming to lease accounting. Passed in February 2016, the new leasing standard brings terminology and treatment of leases into line with other recent accounting changes, such as the new revenue recognition standard.
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Topics: Larry Kaplan, lease accounting changes, Lease Standards, Leasing

Understanding the Leasing Standard: Part 1 - Overview of the Key Concepts
Posted by Larry Kaplan on Fri, Jun 10, 2016 @ 09:00 AM

The Financial Accounting Standards Board (FASB)'s new leasing standard, released February 25, 2016, brought several changes to lease accounting. While not all of the changes will mean significant updates to existing U.S. generally accepted accounting principles (GAAP), they will require entities with leasing arrangements to adjust their current practices.

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Topics: Larry Kaplan, lease accounting changes, Lease Standards, Leasing

Determining the Fair Value of Retirement Plan Investments – the FASB ASC 820 Fair Value Hierarchy
Posted by Larry Kaplan on Fri, Nov 21, 2014 @ 09:06 AM

Part 4 of 4: Plan Sponsor’s Guide to Retirement Plan Investments  

In this series to date, and in our more detailed and comprehensive whitepaper, we have discussed the responsibilities of retirement plan sponsors with a special focus on valuing and reporting on plan investments. To wrap up the series, we’re presenting a brief overview of how to determine fair value in accordance with Generally Accepted Accounting Principles (GAAP).

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Topics: Larry Kaplan, ERISA-Qualified Retirement Plans, Retirement Plan Investments

Valuing Retirement Fund Investments
Posted by Larry Kaplan on Fri, Nov 14, 2014 @ 09:34 AM

Part 3 of 4: Plan Sponsor’s Guide to Retirement Plan Investments

A fundamental responsibility of a plan sponsor is to prove the values of the investments in the retirement plan.

If your plan is invested solely in assets with readily determinable fair values, such as mutual funds or marketable securities, you’ll typically obtain fair values from nationally recognized pricing services such as Interactive Data Corporation (IDC) or Bloomberg. However, if your plan invests in assets without readily determinable fair values, the reported values may be based on the best information available, which may or may not be fair value.

To obtain the fair value for alternative investments, a process should be developed to determine the reliability of the evidence obtained and when the use of specialists is needed.

There are three acceptable techniques that can be used to determine the fair value of an investment:

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Topics: Larry Kaplan, ERISA-Qualified Retirement Plans, Retirement Plan Investments

Retirement Plan Investment Types – 8 Alternative Investments
Posted by Larry Kaplan on Fri, Nov 7, 2014 @ 09:27 AM

Part 2 of 4: Plan Sponsor’s Guide to Retirement Plan Investments

When it comes to structuring your plan’s investment portfolio, you are faced with a number of options for investment types, and then you have to select from a bewildering list of products, each of which has a different risk profile.

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Topics: Larry Kaplan, ERISA-Qualified Retirement Plans, Retirement Plan Investments

Reporting Requirements for ERISA-Qualified Retirement Plans
Posted by Larry Kaplan on Fri, Oct 31, 2014 @ 10:39 AM

Part 1 of 4: Plan Sponsor’s Guide to Retirement Plan Investments

Over the next several weeks, we’ll be presenting a series of four blog posts on various topics related to retirement plan investments, – based on our experience as employee benefit plan auditors for hundreds of plans in New England.

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Topics: Larry Kaplan, ERISA-Qualified Retirement Plans, Retirement Plan Investments

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