Daily Archives: March 14, 2017

Is it Equity, Debt, or Some of Each?

Investor financing for today’s tech companies is complex, different terms in convertible debt, warrants, and preferred stock can result in surprising and difficult accounting treatments. At a recent Public Company Accounting Oversight Board (PCAOB) workshop, both SEC and PCAOB representatives emphasized the risk of financial statement misstatements due to complexities in equity vs. liability determination issues. The complexity is due in part to the intricacy of today’s financial instruments, and compounded by U.S. GAAP standards. This subject is addressed in three different Financial Accounting Standard Board (FASB) ASC topics; ASC 480 “Distinguishing Liabilities from Equity”, ASC 470-20 “Debt with Conversion …read more

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Don’t be Fooled by Fake Social Security Officials

SCAM ALERT: The Social Security Administration (SSA) has issued a warning about a “telephone imposter” phishing scheme. The SSA’s Office of the Inspector General (OIG) has received several reports from citizens who have received phone calls from scammers posing as OIG investigators saying the citizen’s Social Security account, number, and/or benefits are suspended. The scammers then direct the victim to call a non-SSA phone number to “resolve the issues.” Here is what you should know if these scammers contact you: