FMN Session - Jan. 15th. 2022

When:  Jan 15, 2022 from 09:00 AM to 01:00 PM (PT)
Structuring Equity Compensation
Field of Study: Accounting
Equity compensation is a way to align the incentives of investors and executives. In economics, this is called a principal-agent problem; any time you need to get something done, you ask someone else (employee) to work on your behalf (shareholder investor.) In the “modern” stage of equity compensation, companies look to design appropriate ways to pay their employees using a combination of stock and a wide universe of equity instruments. But is this the only reason to pay in equity, besides alignment of incentives? Josh Schaeffer, director of Valuation
and HR Advisory Practice at EquityMethods, starts our segment by addressing that very question.

Current Expected Credit Losses – What You Need to Know
Field of Study: Accounting
On June 16, 2016 the FASB issued Accounting Standards Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326). The new guidance requires organizations to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable and supportable forecasts. It affects organizations that hold financial assets and net investments in leases that are not accounted for at fair value, and amongst other areas on the balance sheet, also affects loans and debt. ASC-326 is certainly a very complex standard. Chris Brown, senior managing director, Forensic & Litigation Consulting at FTI Consulting, discusses in detail the accounting standard and the reasons that drove FASB to issue it.

Unclaimed Property Reforms and Challenges – Part I
Field of Study: Taxes
Property or accounts within financial institutions or companies that have not been claimed by their owner and have no activity for a year or more can be classified as unclaimed property, and if there is no contact or change, that property needs to be turned over to the state. But before that last step, when the dormancy period has passed, the entity has the responsibility to perform due diligence and make many attempts to locate the owner of the abandoned property. State Unclaimed Property Laws and Regulations seem to differ from other business regulations and tax requirements in a number of ways, including when a state law applies and the types of items to which it applies. Karen Anderson, director, and William King, tax managing director, State and Local Tax, at KPMG LLP, discuss unclaimed property reforms andchallenges and explain some of the anomalies and the ways they impact businesses.

Unclaimed Property Reforms and Challenges – Part II
Field of Study: Taxes
In July 2020, the Delaware Court of Chancery reversed a subpoena issued by the Delaware Department of Finance (the Department) in the course of an ongoing unclaimed property audit of AT&T. The issuance of the Department’s subpoena on behalf of the State Escheator was initiated in 2021 requesting AT&T’s records going back 20 years from the commencement of the audit to 1992! Karen Anderson, director, and William King, tax managing director, State and Local Tax, at KPMG LLP continue our segment on unclaimed property reforms and challenges and discuss administrative subpoena authority. Are state administrators who have this authority issuing administrative subpoenas in unclaimed property audits? And are there any restrictions of the types of information that can be subpoenaed?


Delta Silicon Valley Hotel by Marriot
2151 Laurelwood Road
Santa Clara, CA 95054


Nicole Sheets