December, 2023

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SEC Risk Factors Disclosure Analysis

Harvard Corporate Governance

Posted by Dean Kingsley, Matt Solomon, Deloitte & Touche LLP, and Kristen Jaconi (USC Marshall), on Sunday, December 3, 2023 Editor's Note: Dean Kingsley is a Principal and Matt Solomon is a Senior Manager at Deloitte & Touche LLP. Kristen Jaconi is an Associate Professor of the Practice in Accounting and Executive Director at Peter Arkley Institute for Risk Management at the USC Marshall School of Business.

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IVSC Standards Review Board Ratifies New Edition of International Valuation Standards (IVS)

IVSC

The International Valuation Standards Council (IVSC) is pleased to announce that its Standards Review Board (SRB) has unanimously approved the forthcoming edition of the International Valuation Standards (IVS), set for release in January 2024. The SRB, led by Chair Susan DuRoss, comprises global experts in technical standards, including leaders of the IVSC’s Asset Standards Boards – the Business Valuation Board, Financial Instruments Board, and Tangible Assets Board.

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The impact of generative AI on Black communities

Mckinsey and Company

Generative AI has the potential to widen the racial economic gap in the United States by $43 billion each year. But deployed thoughtfully, it could actually remove barriers to Black economic mobility.

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How Elon Musk and Larry Page’s AI Debate Led to OpenAI and an Industry Boom

NYT M&A

The people who were most afraid of the risks of artificial intelligence decided they should be the ones to build it. Then distrust fueled a spiraling competition.

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How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

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Cigna Drops Humana Merger, Opts For $10 Billion Buyback Strategy

Benzinga

In a recent development in the health insurance sector, Cigna Corporation (NYSE: CI ) has withdrawn from its proposed merger with Humana Inc. (NYSE: HUM ). What Happened: The deal, poised to create a colossal entity in the industry with an estimated $140 billion, fell through due to disagreements over financial terms. With the merger off the table, Cigna is redirecting its strategy towards smaller, targeted acquisitions, reports The Wall Street Journal.

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The Top Internal Audit Articles of 2023

Internal Audit 360

T here’s a palpable concern for the future among internal auditors. I wouldn’t quite call it anxiety, but there’s certainly some underlying angst about how the next few years will play out for internal auditors. There’s consternation, for sure, over how things like artificial intelligence, increasing digitalization, the data of everything, climate change, political uncertainly, and geopolitical tension will impact the business world as a whole and internal auditing in par

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Renewable energy tax credits: Geothermal, solar, biomass, wind power, and more

ThomsonReuters

Jump to: How do renewable energy tax credits work? What renewable energy tax incentives does the IRS offer for individuals vs. businesses? Overview of clean energy credits by energy type Helping clients with renewable energy credits In recent years, the U.S. and other countries around the world have placed a growing emphasis on sustainability and green energy.

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How generative AI can boost consumer marketing

Mckinsey and Company

From automating processes and powering hyperpersonalization to permanently altering the idea generation process, generative AI is poised to be a catalyst for a new age of marketing capabilities.

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Serious Medical Errors Rose After Private Equity Firms Bought Hospitals

NYT M&A

A new study shows an increase in the rate of inpatient complications, including infections and falls, though patients were no more likely to die.

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Tech Giants In Talks: Synopsys Reportedly Aims For Blockbuster Acquisition Of Ansys In 2024

Benzinga

Synopsys, Inc. (NASDAQ: SNPS ) is reportedly in discussions about acquiring ANSYS, Inc. (NASDAQ: ANSS ), a move that could result in the creation of a significant design-software entity and represent one of the early major acquisition deals in the new year. Ansys, valued at almost $30 billion, may see an acquisition deal materialize in early 2024, The Wall Street Journal reported , citing people familiar with the matter.

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Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

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4 Things a Part-Time CFO Can Do for a Business Startup

Redpath

Most startups don’t need a full-time chief financial officer. However, most business founders are not accountants, and CFO-level expertise is essential to get any new venture off to a sound start and onto a path toward future growth. A part-time CFO can help your fledgling business in four essential ways –stewardship, operations, strategy, and creating long-term business value.

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Talent management: an evolving board imperative

Harvard Corporate Governance

Posted by Matt DiGuiseppe, Maria Moats, and Gregory Johnson, PricewaterhouseCoopers LLP, on Saturday, December 30, 2023 Editor's Note: Matt DiGuiseppe is a Managing Director, Maria Moats is a Leader, and Gregory Johnson is a Director at the Governance Insights Center, PricewaterhouseCoopers LLP. This post is based on their PwC report. Today’s increasingly unpredictable business environment can make management decisions more consequential.

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How AI can transform the way accountants work — for the better

ThomsonReuters

As technology has evolved, so too has the accounting profession. From paper-based processes to cloud-based software, accountants are no strangers to change. No previous advancement, however, has had the potential to alter accounting (and many other industries) quite like generative artificial intelligence. But for those who embrace AI, there is a strategic opportunity to capitalize on its many benefits while protecting and even uplifting the irreplaceable human connection.

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Unlocking the potential of generative AI: Three key questions for government agencies

Mckinsey and Company

Government organizations may seek to jump on the gen AI bandwagon, but the technology’s complexities could sideline their efforts. Our framework addresses some critical implementation questions.

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Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

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Warner Bros. Discovery in Talks to Merge With Paramount

NYT M&A

The talks, which are said to be in the early stages, add Warner Bros. Discovery to the list of companies pursuing a possible deal with Paramount.

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Streaming Mega Merger? Warner Bros, Paramount CEOs Met On A Potential Deal Tuesday - Axios

Benzinga

David Zaslav , CEO of Warner Bros. Discovery, Inc. (NASDAQ: WBD ), and Bob Bakish , CEO of Paramount Global , met on Tuesday and spoke for several hours about a potential merger. Here's what you need to know. The Details: According to an Axios , the meeting focused on areas such as how the companies could complement one another. Warner Bros. Discovery's ability to leverage Paramount's children's programming assets and the combination of CBS News and CNN into a massive global news

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Your End-of-Year Charitable Gifting Guide

Redpath

With the end of another tax year and the holiday season upon us, December often brings more gifting to family, friends, your community, and often your favorite nonprofit organizations. Here are some considerations and insights to help prepare you for a discussion about your charitable gifting strategy with your advisor.

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Profiting from Pollution

Harvard Corporate Governance

Posted by Nathan Atkinson (University of Wisconsin), on Thursday, December 14, 2023 Editor's Note: Nathan Atkinson is Assistant Professor at the University of Wisconsin Law School. This post is based on his recent article that was published in the Yale Journal on Regulation. In 2015, the Environmental Protection Agency entered a settlement with ASARCO LLC for violations of the Clean Air Act at a copper smelting plant in Hayden, Arizona.

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How the “Wild West” of Tax Preparation Led to Massive ERC Issues

ThomsonReuters

The Employee Retention Credit (ERC) emerged as a lifeline for many companies during the COVID-19 pandemic, incentivizing them to retain their employees and navigate through the financial turmoil. However, while the ERC served as a valuable support mechanism, it has also raised concerns about abuse when it comes to accurate claims for the credit. James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC

Start-ups 105
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Southeast Asia quarterly economic review: Pockets of growth emerge

Mckinsey and Company

In the third quarter 2023, the economies of most countries in Southeast Asia showed pockets of growth and resilience, despite the cumulative effects of monetary tightening and slower global demand.

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Manchester United Sells 25 Percent Ownership Stake to Jim Ratcliffe

NYT M&A

The billion-dollar deal leaves the team’s unpopular owners, the Glazer family, in control of the club, but it delegates important responsibilities to their new partner.

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EXCLUSIVE: La Rosa Acquires Third Real Estate Brokerage Franchisee

Benzinga

La Rosa Holdings Corp (NASDAQ: LRHC ) has acquired a 100% interest in the company’s franchisee - La Rosa Realty CW Properties in Longwood, Florida. CW Properties generated revenue of $3.4 million and had positive net income in 2022. The franchisee provides residential and commercial real estate brokerage services. It also provides coaching and support services to agents on a fee basis.

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M&A Process: Best Practices for Approaching the Closing Table

Redpath

Mergers and acquisitions are not “business-as-usual” financial transactions. There is a lot at stake—everything, really. Buyers and sellers want to get deals to close in a timely and efficient manner, but getting across the finish line is easier said than done. By the time closing approaches, there are a variety of emotions being experienced by both the buyer and the seller.

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The Cost of Private Fund Regulation

Harvard Corporate Governance

Posted by Ben Bates (Harvard Law School), on Monday, December 11, 2023 Editor's Note: Ben Bates is a Research Fellow at the Harvard Law School Program on Corporate Governance. This post is based on his recent paper. Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here ) by Lucian A.

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Trout CPA Welcomes Aaron Grumbling

Trout CPA

Trout CPA is thrilled to announce that Aaron S. Grumbling, CPA , has joined our team as a Client Accounting Services Manager. Aaron joins our firm with over 30 years of experience, primarily in the not-for-profit industry. His extensive work experience includes working as a Finance Director for a non-profit county library and as an audit principal at a regional CPA firm.

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Global Economics Intelligence executive summary, November 2023

Mckinsey and Company

Elevated interest rates weigh on consumer confidence; central banks hold rates, except in Brazil (down) and Russia (up); inflation subsiding for now and is negative in China; growth subdued in Europe.

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Yellow Rejects a Bid to Restart Trucking Company

NYT M&A

In a letter, Yellow’s management said an effort to buy the company and revive its operations by an executive from a different trucking firm was “not viable.

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Cisco's Cybersecurity Coup: Plans To Buy Cloud-Native Networking And Security Startup Isovalent

Benzinga

Cisco Systems, Inc. (NASDAQ: CSCO ) on Thursday said it plans to acquire privately held Isovalent, Inc., an open source cloud native networking and security company. Together, Cisco and Isovalent will build leading-edge protection for every workload on every cloud. The acquisition of Isovalent will build on the Cisco Security Cloud vision, an AI-driven, cloud-delivered, integrated security platform for organizations of any shape and size.

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Empowering entrepreneurs: top takeaways from FounderMetrics

Vested

FounderMetrics podcast series one: the highlights. Dive into business metrics and a lot more besides with Vestd founder Ifty Nasir and special guests.

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Giving Gifts and Throwing Parties Can Help Show Gratitude and Provide Tax Breaks

Machen McChesney

The holiday season is here. During this festive season, your business may want to show its gratitude to employees and customers by giving them gifts or hosting holiday parties. It’s a good time to review the tax rules associated with these expenses. Are they tax deductible by your business, and is the value taxable to the recipients?

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Comment on New URAR Redesign Spec Released by jaydee

Appraisers Blog

Crying about fees? Again? Still? You’re all your own worst enemies!!! Sure it’s slowed but that is no time to lower your fees! Inflation keeps going up and your lowering your fees to remain competitive? Stop competing with your fellow appraisers! We all need to make a living, we all have bills, we are all worried I get that. But if you think that if you lower your fees you will (and might) continue to work?

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2023: The year in charts

Mckinsey and Company

View some of our favorite data visualizations from the year to see how data helps translate complex information into compelling stories.

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Monsanto Should Pay $857 Million in P.C.B. Case, Jury Finds

NYT M&A

Students and parent volunteers from a school in Washington State said in a lawsuit that they had become sick after being exposed to chemicals known as P.C.B.s. that had dripped from light fixtures.

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Bristol Myers Squibb Takes On Novartis, Eli Lilly With RayzeBio $4B Deal In Radiopharmaceuticals

Benzinga

Bristol Myers Squibb & Co (NYSE: BMY ) has agreed to acquire RayzeBio Inc (NASDAQ: RYZB ) for $62.50 per share in cash, for a total equity value of approximately $4.1 billion, or $3.6 billion net of estimated cash acquired. RayzeBio is a clinical-stage radiopharmaceutical therapeutics (RPT) focused on actinium-based RPTs. Current pipeline programs are targeting the treatment of solid tumors, including gastroenteropancreatic neuroendocrine tumors (GEP-NETs), small-cell lung cancer, hepatocell

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