The International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB) will often revisit and revise accounting standards to respond to the changing business landscape. While many businesses are still responding to ASC 842, there is a new standard that will need to be considered next: Financial Instruments — Credit Losses. BACKGROUN [...]

INTRODUCTION For many decades in Hollywood, studios producing television series have been generally consistent with: How they distribute television series;How they share profits with stakeholders through contingent compensation (modified adjusted gross receipts, or MAGR); andHow they share information about the success of the series. Distribution of a series has ha [...]

On this episode of the Business Disruption and Resilience Podcast, GHJ Private Equity Expert and Guest Host Austin Hobson speaks to Robinson Bradshaw Partner Adam Berkland about what businesses at all stages need to know when preparing to receive institutional capital. Based in North Carolina, Adam primarily works with startup tech companies in the Research Triangl [...]

Originally published in Philanthropy News Digest. Trust-based philanthropy (TBP) gained popularity during the pandemic as nonprofits needed to respond quickly to changing needs. It has taken on many names over the years as the concept grew in popularity, but TBP lessens the burden on nonprofit grantees and creates a more equitable power dynamic between grantors and g [...]

Originally published in Inside Philanthropy. Amid global shifts due to the COVID-19 pandemic and a nationwide reckoning around social justice, philanthropy has taken a new shape. More donors are exploring trust-based philanthropy, a charitable approach that aims to make giving more democratic, inclusive and collaborative between funders and grantees. This approach ai [...]

The Employee Retention Credit (ERC) is a refundable payroll tax credit that was introduced during the COVID-19 pandemic to incentivize employers to maintain employment levels during a government shutdown or period with a significant decline in financial performance. For most businesses, the ERC may be available for wages paid after March 12, 2020 and before Oct. 1, 20 [...]

IRC section 1031 allows taxpayers to defer gains from the sale of real property by exchanging it for property of “like-kind.” Like-kind exchanges are complex and can take different forms, so each transaction is unique. The most common type of exchange is a delayed exchange where the taxpayer sells their property before acquiring replacement property. In a deferred e [...]

On June 27, 2023, California lawmakers passed Senate Bill 131 (SB 131) to amend California Revenue and Taxation Code section 17082. This new law states that effective Jan. 1, 2023, the income of an incomplete non-grantor (ING) trust will be subject to California income tax if the grantor resides in California, regardless of the jurisdiction in which the trust was form [...]

The past few years have caused a lot of uncertainty and change in the macroeconomic environment, in particular for private equity groups (PEGs). In 2023, the private equity landscape has seen: Exponential growth in company valuations from 2020 through a 2022 peak and more recently a decline back to normal levels (historically speaking)Significant amounts of dry powd [...]

When it comes to valuing a business, there are several metrics that accounting and finance professionals use. Two of the most commonly used metrics are cash flow and earnings before interest, taxes, depreciation and amortization (EBITDA). The latter was designed to be a proxy for a company’s operating cash flow and is independent of how a company is capitalized, meani [...]