Tax Optimization for Private Equity Funds. October 31, 2017
|
|
- Reginald Harrington
- 6 years ago
- Views:
Transcription
1 Tax Optimization for Private Equity Funds October 31, 2017
2 Featured speakers Barry Grandon Managing Director M&A Tax Services Grant Thornton LLP Tom Freeman Partner Tax Practice Leader Grant Thornton LLP Melanie Krygier Senior Manager M&A Tax Services Grant Thornton LLP Grant Thornton LLP. All rights reserved. 2
3 Learning objectives 1 Identify strategies for value creation focused on tax 2 Assess current relevant risks impacting PE portfolios 3 Highlight tax optimization opportunities that may be employed across PE investment portfolios Grant Thornton LLP. All rights reserved. 3
4 Agenda 1 Overview of strategy 2 Opportunity assessment 3 Re-evaluate/Redesign/Staying connected 4 Lessons learned Grant Thornton LLP. All rights reserved. 4
5 Creating value across the M&A Life Cycle Grant Thornton LLP. All rights reserved. 5
6 Overview of strategy Private Equity tax portfolio optimization What is it? The process of driving value through tax minimization consistent with a company s current and future business plan and other business exigencies which includes optimizing, preserving, investing and raising capital Evaluate current state opportunities & risks (capital events, business changes, etc.) Evaluate future state devise a tax plan consistent with the company s future business plan Consider the exit opportunities, risks and challenges Grant Thornton LLP. All rights reserved. 6
7 Overview of strategy Private Equity tax portfolio optimization What is it? Understand business plan/projections to evaluate tax inefficiency and potential opportunities Evaluate tax and tax related inefficiencies Drive value to the portfolio and the fund Preservation of tax attributes Identify tax risks and manage such risks Position for exit Grant Thornton LLP. All rights reserved. 7
8 Opportunity assessment Identify tax opportunities or risks Tailored written questions Company functional area interviews Financial Legal Sales Plant Managers Available financial and tax records Grant Thornton LLP. All rights reserved. 8
9 Opportunity assessment Assess and measure the portfolio company's tax profile and risks at various stages Current State Benchmark effective tax rate Identify quick-hit opportunities and more subtle tax technical issues Future State Understand the business and strategic direction What are the challenges to value creation? What plans are being assessed at the Private Equity fund and the portfolio to drive value Recapitalization, product sourcing, geographic expansion, facility closings, etc. Exit or monetization event Grant Thornton LLP. All rights reserved. 9
10 Opportunity assessment Analyze the data Develop preliminary opportunities Identify potential risk factors Prioritize according to quick hits, mid-term, or long-term objectives Grant Thornton LLP. All rights reserved. 10
11 Implementation Deliver summary tax optimization report Cash tax savings Risk mitigation Associated considerations related to non-tax costs Detailed design and implementation Grant Thornton LLP. All rights reserved. 11
12 Re-evaluate/ Redesign/ Staying connected Review and re-evaluate the implemented strategy (at least quarterly) Has the implemented strategy lived up to its expectations/anticipated benefits Does it need to be revised Review the state of the business, including changes in the strategic direction Redesign and implement changes to the initial strategy or implement a new strategy Grant Thornton LLP. All rights reserved. 12
13 Lessons learned Communication/coordination is critical Change can be scary and management teams may be apprehensive We are all on the same team We will need their help for this process to work They can assist in the process if they have the bandwidth Consult with management around who and what forum findings need to be raised Significant tax exposures should be elevated Work with cross-functional teams to consider how exposures can be mitigated and opportunities can be realized Accelerate resolution of exposures in advance of a sale or IPO Grant Thornton LLP. All rights reserved. 13
14 Lessons learned Consider the impact not only on the company but at the fund UBIT issues PHC Deemed exchanges on debt Grant Thornton LLP. All rights reserved. 14
15 Disclaimer This Grant Thornton, LLP presentation is not a comprehensive analysis of the subject matters covered and may include proposed guidance that is subject to change before it is issued in final form. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this presentation. The views and interpretations expressed in the presentation are those of the presenters and the presentation is not intended to provide accounting or other advice or guidance with respect to the matters covered. For additional information on matters covered in this presentation, contact your Grant Thornton, LLP adviser. Grant Thornton LLP. All rights reserved. 15
16 Thank you for attending twitter.com/grantthorntonus linkd.in/grantthorntonus Visit us online. For questions regarding your CPE certificate, contact Grant Thornton LLP. All rights reserved. 16
Interpreting the LB&I Directive on ASC 730 Safe Harbor for R&D credits
Interpreting the LB&I Directive on ASC 730 Safe Harbor for R&D credits Please disable pop-up blocking software before viewing this webcast November 29, 2017 3:00pm 4:30pm ET 1.5 CPE Credits CPE Reminders
More informationThe future of tax reform
The future of tax reform Oct 26, 2017 1:00 pm 2:00 pm ET 1 CPE Credit Please disable pop-up blocking software before viewing this webcast CPE Reminders To receive CPE, you must be active for the entire
More informationExecutives: What to know about your compensation if your company is sold
Executives: What to know about your compensation if your company is sold Please disable popup blocking software before viewing this webcast Original Publication Date: July 20, 2017 CPE Credit is not available
More informationBusiness entity selection: Choices, choices, choices--which type is best for my company?
Business entity selection: Choices, choices, choices--which type is best for my company? Please disable popup blocking software before viewing this webcast October 4 th, 2017 3-4:30 pm EST CPE Reminders
More informationUnderstanding the benefits and challenges of Opportunity Zones
Understanding the benefits and challenges of Opportunity Zones Tuesday, Nov. 27, 2018 2:00-3:00 pm ET We will be starting soon Please disable pop-up blocking software before viewing this webcast Speakers
More informationPrepare for 2019: Issues in Designating a Partnership Representative under the BBA
Prepare for 2019: Issues in Designating a Partnership Representative under the BBA Please disable pop-up blocking software before viewing this webcast December 17, 2018 2:00PM EST Speakers Elizabeth Askey
More informationEnergy Trends in November 7, 2017
Energy Trends in 2018 November 7, 2017 Speakers Kevin Schroeder National Managing Partner, Energy Industry, Grant Thornton LLP kevin.schroeder@us.gt.com Mel Schwarz Partner, Tax Services, Grant Thornton
More informationThe Proposed Section 59A Regulations The Base Erosion Anti-Abuse Tax
The Proposed Section 59A Regulations The Base Erosion Anti-Abuse Tax Please disable pop-up blocking software before viewing this webcast January 22, 2019 2:00-3:00pm ET Today's presenters David Sites Partner,
More informationFinishing strong in the ASC 606 marathon: An in-depth look at licensing, modifications, and other potential hurdles
Finishing strong in the ASC 606 marathon: An in-depth look at licensing, modifications, and other potential hurdles Please disable popup blocking software before viewing this webcast Original Publication
More informationFinancial reporting update
Financial reporting update Recap of the 2016 AICPA Conference on Current SEC and PCAOB Developments January 2017 Please disable popup blocking software before viewing this webcast Original Publication
More informationQuarterly financial reporting update
Quarterly financial reporting update Wednesday, December 20, 2017 12:00 1:00 pm CT We will be starting soon Please disable pop-up blocking software before viewing this webcast CPE Reminders To receive
More informationThe aftermath of Wayfair: Developments and action steps for businesses
The aftermath of Wayfair: Developments and action steps for businesses Wednesday, September 5, 2018 1-2:30 pm ET We will be starting soon Please disable pop-up blocking software before viewing this webcast
More informationThe Medical Device Excise Tax, Wrap Up, Audits and Refunds
The Medical Device Excise Tax, Wrap Up, Audits and Refunds Michael Cronin SALT - Senior Manager - New England State and Local Indirect Tax and National Medical Device Excise Tax Leader T +1 617 848 4999
More informationThe Proposed Section 951A Regulations The First Round of GILTI Guidance
The Proposed Section 951A Regulations The First Round of GILTI Guidance Wednesday, October 10, 2018 1:30 3:00 pm ET If you experience any technical difficulties, contact 877.398.9939 or GTWebcast@centurylink.com
More informationCECL Current technical developments Part II
CECL Current technical developments Part II Current Developments in FASB s Current Expected Credit Loss Model December 11, 2018 We will be starting soon Please disable pop-up blocking software before viewing
More informationCaveat venditor: The implications of Wayfair for US inbounds
Caveat venditor: The implications of Wayfair for US inbounds Tuesday, November 13, 2018 10:00-11:00 am ET We will be starting soon Please disable pop-up blocking software before viewing this webcast CPE
More informationThe impact of Tax Reform on the Not-For- Profit and Higher Education sectors
The impact of Tax Reform on the Not-For- Profit and Higher Education sectors Please disable pop-up blocking software before viewing this webcast January 4, 2018 CPE Reminders To receive CPE, you must be
More informationTax reform s major impact on compensation & benefits
Tax reform s major impact on compensation & benefits Original Publication Date: January 10, 2018 CPE Credit is not available for viewing archived programs Please disable pop-up blocking software before
More informationTax reform What s next
Tax reform What s next Original Publication Date: April 10, 2018 CPE Credit is not available for viewing archived programs Please disable pop-up blocking software before viewing this webcast CPE Reminders
More informationAccounting considerations for UP-C transactions
September 11, 2018 Accounting considerations for UP-C transactions Accounting for common umbrella partnership C corporation transactions Summary The use of an umbrella partnership C corporation (UP-C)
More informationTax Department Trends. Tuesday, November 28, 2017 Wichita Country Club Doug Watson - Director Evan Malcom - Manager
Tax Department Trends Tuesday, November 28, 2017 Wichita Country Club Doug Watson - Director Evan Malcom - Manager Presenters Doug Watson Director doug.watson2@us.gt.com 612 677 5260 Evan Malcom Manager
More informationIndustry Outlook: Tax Reform s Impact on Manufacturing
Industry Outlook: Tax Reform s Impact on Manufacturing Please disable pop-up blocking software before viewing this webcast Wednesday Jun 13, 2018 3:00 PM ET 1 CPE credit CPE reminders To receive CPE, you
More informationLearning Objective. LO1 Analyze an income statement using vertical analysis Cengage Learning. All Rights Reserved.
Learning Objective LO1 Analyze an income statement using vertical analysis. Lesson 17-1 Vertical Analysis Ratios LO1 Vertical analysis ratios measure the relationship between one financial statement item
More informationPlease disable pop-up blocking software before viewing this webcast. The state of tax reform: What. to know. December 15, 2017.
Please disable pop-up blocking software before viewing this webcast The state of tax reform: What to know December 15, 2017 2-3:00 pm ET CPE Reminders To receive CPE, you must be active for the entire
More informationAccretive Solutions Q Quarterly Learning Series. Due Diligence Best Practices
Accretive Solutions Q3 2015 Quarterly Learning Series Due Diligence Best Practices Agenda Buy-side and Sell-side Due Diligence Due diligence what is it and why is it important Summary 2 3 Section 1 Buy-side
More informationTransaction Advisory Services. Managing capital and transactions for your private business
Transaction Advisory Services Managing capital and transactions for your private business Transaction Advisory Services in Canada 1 Staying ahead in an ever changing world Amid ever-changing variables,
More informationStrategic Planning Developing an IR Plan
Webinar Series Strategic Planning Developing an IR Plan 3. Measuring the Success of Your Program August 20, 2009 4-5 p.m. ET Keith Mabee Vice Chairman, Dix & Eaton 1 Agenda 1. August 6 Introduction The
More informationWhite Paper Tips for cashing in on tax reform opportunities today.
White Paper Tips for cashing in on tax reform opportunities today. How early planning can deliver early benefits. Introduction For the first time in a long time the stars are aligning for comprehensive
More informationNew Developments Summary
November 7, 2017 NDS 2017-08 New Developments Summary Targeted improvements to hedge accounting ASU 2017-12 simplifies accounting for hedging activities Summary The FASB recently issued ASU 2017-12, Targeted
More informationIs your bank prepared for the new tax law? March 14, :00 PM ET
Please disable pop-up blocking software before viewing this webcast Is your bank prepared for the new tax law? March 14, 2018 2:00 PM ET 1 CPE reminders To receive CPE, you must be active for the entire
More informationIndustry Outlook: Tax Reform s Impact on the Real Estate Industry
Industry Outlook: Tax Reform s Impact on the Real Estate Industry Please disable pop-up blocking software before viewing this webcast Original Publication Date: April 25, 2018 CPE Credit is not available
More informationPresenting a live 90-minute webinar with interactive Q&A. Today s faculty features:
Presenting a live 90-minute webinar with interactive Q&A Choice of Entity Under the New Tax Law: Avoiding Tax Pitfalls in Operations, Ownership Changes, Exit Strategies Capital vs. Profits Interest, Allowable
More informationMANAGED ACCOUNT PROGRAM
MANAGED ACCOUNT PROGRAM Madison, Wisconsin State Capitol MANAGED ACCOUNT PROGRAM CLEAR AND SIMPLE THE MADISON MANAGED ACCOUNT PROGRAM Innovative strategies for the informed investor Successful investment
More informationIncreasing Shareholder Value Through Transaction Preparation
Increasing Shareholder Value Through Transaction Preparation PRESENTED BY: CHRIS DALTON, NATIONAL TRANSACTION SERVICES LEADER & KEN HIRSCH, MANAGING DIRECTOR, BKD CORPORATE FINANCE TO RECEIVE CPE CREDIT
More informationNew Developments Summary
May 10, 2016 NDS 2016-07 New Developments Summary FASB Transition Resource Group for Revenue Recognition meeting highlights Summary of April 18 meeting Summary The U.S. based members of the Joint Transition
More informationNYISO Capital Budgeting Process. Draft 01/13/03
NYISO Capital Budgeting Process Draft 01/13/03 1 1.0 INTRODUCTION An effective, capital budgeting process is essential to ensure sound capital investment decisions. This report details a recommended approach
More informationInternational tax analytics- Unlocking value through identification and management of critical tax attributes
International tax analytics- Unlocking value through identification and management of critical tax attributes Original Publication Date: November 2nd, 2017 CPE Credit is not available for viewing archived
More informationCFPB and consumer protection hot topics. September 27, 2017
CFPB and consumer protection hot topics September 27, 2017 Today's speakers Tariq Mirza Principal and National Leader Compliance Risk Grant Thornton, LLP Tariq.Mirza@us.gt.com Thomas Vartanian Partner,
More informationFinancial Statements and Report of Independent Certified Public Accountants THE AMERICAN IRELAND FUND. December 31, 2015 and 2014
Financial Statements and Report of Independent Certified Public Accountants THE AMERICAN IRELAND FUND TABLE OF CONTENTS Page Report of Independent Certified Public Accountants 1-2 Statements of Financial
More informationTechnical Accounting Alert
2 TA ALERT 2008-03 Technical Accounting Alert AASB 8 Operating Segments Background AASB 8 Operating Segments is the Australian equivalent to IFRS 8 Operating Segments which was issued by the IASB in November
More informationNew Developments Summary
October 5, 2011 NDS 2011-17 New Developments Summary FASB expands disclosures for multiemployer plans ASU 2011-09 is effective with 2011 financial statements for public companies Summary The FASB recently
More informationFinancial Statements and Report of Independent Certified Public Accountants COMMON INVESTMENT FUND, ROMAN CATHOLIC ARCHBISHOP OF BOSTON
Financial Statements and Report of Independent Certified Public Accountants June 30, 2016 With attachment of financial statements of RCAB Collective Investment Partnership TABLE OF CONTENTS Page Report
More informationTax Legislative Update: Historic Opportunity for Reform?
Tax Legislative Update: Historic Opportunity for Reform? West Virginia Tax Institute Charleston, WV October 30, 2017 Aaron Taylor Grant Thornton Director Public Policy and Governmental Affairs 2016 Grant
More informationThe Section 199A Passthrough Deduction Proposed Regulations Tax Reform Guidance September 2018
Please disable pop-up blocking software before viewing this webcast The Section 199A Passthrough Deduction Proposed Regulations Tax Reform Guidance September 2018 Tuesday, September 25, 2018 1:00 p.m.
More informationGLADIUS CAPITAL MANAGEMENT LP. Plan Rebalancing Utilizing Options
GLADIUS CAPITAL MANAGEMENT LP Plan Rebalancing Utilizing Options CBOE Risk Management Conference Prepared for: CBOE Risk Management Conference Date: September 3, 2014 Disclaimer This document is only intended
More informationMFA AREAS OF PRACTICE
MFA AREAS OF PRACTICE MFA Moody, Famiglietti & Andronico, LLP is a proactive CPA and consulting firm located north of Boston with national and global reach. Since 1981, clients have relied on MFA for exceptional
More informationForeign MLPs. Using foreign energy-related assets to attract yield-oriented investors
Foreign MLPs Using foreign energy-related assets to attract yield-oriented investors Energy companies around the globe are taking notice of the growth and success of master limited partnerships (MLPs)
More informationNew Developments Summary
October 31, 2017 NDS 2017-07 New Developments Summary Transition Resource Group for Credit Losses Summary of issues as of October 6, 2017 Summary On June 12, 2017, the Transition Resource Group for Credit
More informationWhy Legal Entity Management matters Webcast 2014
Webcast 2014 6 March 2014 Your panel on today s webcast Samantha Keen Transaction Advisory Services Email: skeen@uk.ey.com Graham Roberts Financial Accounting Advisory Services Email: groberts1@uk.ey.com
More informationYale School of Management. Private Equity: Leveraged Buyouts. Course Syllabus
Course Name: Private Equity: Leveraged Buyouts Course Number: MGT 847 Session: Fall 1 Class Meeting Time: days and nesdays. 1pm 2:20pm Classroom: TBD Instructor: Joshua Cascade Email: Joshua.Cascade@yale.edu
More informationIn It Together: Emerging Joint Venture Structures for Health Systems and Insurers. Insurers
In In It Together: Emerging Joint Venture Structures for Health Systems and Insurers Insurers October 20, 2015 Alan Maesaka Counsel Aetna Inc. 215.775.5613 maesakaa@aetna.com Denise Hanna Moderator P t
More informationFASB Codification of GAAP. Awarding CPE for this session. September 24, :00pm Eastern. We ll be starting soon
FASB Codification of GAAP September 24, 2009 3:00pm Eastern We ll be starting soon If you experience any technical difficulties, please contact 888.228.4388 or support@learnlive.com Awarding CPE for this
More informationCOMBINED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
COMBINED FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS UNITED WAY OF METROPOLITAN CHICAGO, INC. AND MEMBER UNITED WAYS C O N T E N T S Page REPORT OF INDEPENDENT CERTIFIED
More informationTechnical Accounting Alert
Technical Accounting Alert AASB 7 Financial Instruments: Disclosures This Alert sets out the key changes and actions entities will need to put in place in order to comply with the requirements of AASB
More informationESG AND PRIVATE EQUITY: UNDERSTANDING THE CURRENT STATE OF AFFAIRS
ESG AND PRIVATE EQUITY: UNDERSTANDING THE CURRENT STATE OF AFFAIRS ESG MOVING OUT OF THE COMPLIANCE ROOM AND INTO THE HEART OF THE INVESTMENT PROCESS Ioannis Ioannou, Assistant Professor of Strategy and
More informationExecutive Compensation in Privately Owned Businesses: How It s the Same and How It s Very Different
Executive Compensation in Privately Owned Businesses: How It s the Same and How It s Very Different Don Delves, Director, Willis Towers Watson June 6, 2017 2017 Willis Towers Watson. All rights reserved.
More informationFinancial Statements Modified Cash Basis and Report of Independent Certified Public Accountants. Leadership Oklahoma City, Inc. May 31, 2015 and 2014
Financial Statements Modified Cash Basis and Report of Independent Certified Public Accountants Leadership Oklahoma City, Inc. REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS Board of Directors Leadership
More informationTAX EXECUTIVE OUTLOOK AFTER TAX REFORM
TAX EXECUTIVE OUTLOOK AFTER TAX REFORM May 30, 2018 BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms
More information25th Annual Health Sciences Tax Conference
25th Annual Health Sciences Tax Conference Partnerships and joint ventures (JVs): Mergers and acquisitions (M&A), current developments, and JVs with exempt organizations December 9, 2015 Disclaimer EY
More informationBDOPErspective. BDO PErspective 2009 Private Equity Study Executive Summary
THE NEWSLETTER OF THE BDO SEIDMAN PRIVATE EQUITY PRACTICE BDOPErspective BDO PErspective 2009 Private Equity Study Executive Summary Squeezed. That may be the most appropriate characterization for the
More informationCFO OUTLOOK 2018 MIDDLE MARKET
CFO OUTLOOK 2018 MIDDLE MARKET TABLE OF CONTENTS Summary and Key Findings...1 Growth in the Current Environment...2 Emerging Trends...6 An Increasingly Evolving Role...10 SUMMARY AND KEY FINDINGS We are
More informationNew Developments Summary
October 9, 2017 NDS 2017-06 New Developments Summary Natural disasters and other loss events Accounting and financial reporting considerations Summary The financial implications of natural disasters and
More information2018 Homebuilder Tax Director Roundtable. Wynn Las Vegas 7-8 May 2018
2018 Homebuilder Tax Director Roundtable Wynn Las Vegas 7-8 May 2018 1 Disclaimer EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited,
More informationMergers& Acquisitions
Mergers& Acquisitions How We Can Assist You? Mergers & Acquisitions can add great value to the business, but ensuring that every step of the process right from valuation to negotiation and completion is
More informationTRACKING TAX IN YOUR INDUSTRY 4.0 TRANSFORMATION
INSIGHTS FROM THE BDO MANUFACTURING & DISTRIBUTION PRACTICE TRACKING TAX IN YOUR INDUSTRY 4.0 TRANSFORMATION An organization s path to Industry 4.0 may be winding or direct, depending on where they are
More informationTHE MARKET THAT MOVES AMERICA F I N D I N G S FROM T H E NCMM S Q2'17 I N D I C ATO R S U RV E Y
Q2'17 MIDDLE MARKET INDICATOR ACG WEBINAR July 26, 2017 THE MARKET THAT MOVES AMERICA F I N D I N G S FROM T H E NCMM S Q2'17 I N D I C ATO R S U RV E Y T h o m a s A. S t e w a r t, E x e c u t i v e
More informationFinancial Statements and Report of Independent Certified Public Accountants. International Research & Exchanges Board, Inc. June 30, 2013 and 2012
Financial Statements and Report of Independent Certified Public Accountants Contents Report of Independent Certified Public Accountants 3 4 Financial Statements Statements of Financial Position 5 Statements
More informationInsurance M&A Symposium
7th Annual Insurance M&A Symposium formerly SNL Insurance M&A Symposium Produced by the Knowledge Center, an executive conference from S&P Global Market Intelligence Union League Club New York, NY in partnership
More informationEmbarking on the IPO Journey. kpmg.com
Embarking on the IPO Journey kpmg.com 1 Embarking on the IPO Journey Embarking on the IPO Journey The reasons for pursuing a public offering are as varied and unique as your company. You may be interested
More informationPeople s Republic of China: Promotion of a Legal Framework for Financial Consumer Protection
Technical Assistance Report Project Number: 47042-001 Policy and Advisory Technical Assistance (PATA) October 2013 People s Republic of China: Promotion of a Legal Framework for Financial Consumer Protection
More informationPerspectives JAN Market Preview: Private Equity
Perspectives JAN 2019 2019 Market Preview: Private Equity POISED FOR ROBUST DEPLOYMENT Private equity investors in 2018 benefited from strong overall industry performance, with U.S. funds up 8.3% YTD.
More informationCraig D. Frances, M.D McGuire Woods Annual Conference October 10, 2009
The Financial World s View of ASCs Craig D. Frances, M.D. 2009 McGuire Woods Annual Conference October 10, 2009 Agenda What is private equity and its utility? Why consider a private equity partner? What
More informationBridging the Gap in Deal Valuation. Wednesday April 12, 2017
Bridging the Gap in Deal Valuation Wednesday April 12, 2017 Bridging the Gap in Deal Valuation Speakers: Clare Fisher, Vice President, Interim Head of Transactions, Shire Greg Miller, MBA, MPH, Vice President
More informationU.S. REITs. Where they have been, where they are, where they may go next. October Ettore Santucci Goodwin Procter LLP
U.S. REITs Where they have been, where they are, where they may go next October 2017 Ettore Santucci Goodwin Procter LLP The REIT Quadrant of the Real Estate Capital Markets Debt Equity Private Conventional
More informationStrategic Planning Developing an IR Plan
Webinar Series Strategic Planning Developing an IR Plan 1. Introduction: Developing an IR Plan August 6, 2009 4-5 p.m. ET Keith Mabee Vice Chairman, Dix & Eaton Agenda 1. August 6 Introduction The role
More informationDeutsche Börse Creates Leading Index and Portfolio / Risk Analytics Business Analyst and Investor Conference Call
Deutsche Börse Group 1 Deutsche Börse Creates Leading Index and Portfolio / Risk Analytics Business Deutsche Börse Group 2 Transaction summary Deutsche Börse is acquiring Axioma for $850 million cash/debt
More informationGreetings. The Honourable Dr. Horace Chang MP. Minister without Portfolio. Ministry of Economic Growth and Job Creation. at the.
Greetings The Honourable Dr. Horace Chang MP Minister without Portfolio Ministry of Economic Growth and Job Creation at the 42 nd Annual Conference of the International Organization of Securities Commissions
More informationMajor Projects Advisory Project Leadership Series
KPMG GLOBAL ENERGY INSTITUTE Major Projects Advisory Project Leadership Series February 7, 2013 Disclaimer The information contained herein is of a general nature and is not intended to address the circumstances
More informationRunning Your Business for Growth
Accenture Insurance Running Your Business for Growth Could Your Operating Model Be Standing in the Way? 1 95 percent of senior executives are not certain their companies have the right operating model
More informationFinancial & Valuation Modeling Boot Camp
TARGET AUDIENCE Overview 3-day intensive training program where trainees learn financial & valuation modeling in Excel using in a hands-on, case-study approach. The modeling methodologies covered include:
More informationPrivate Equity Guide for Businesses
December 2017 Private Equity Guide for Businesses PRIVATE EQUITY GUIDE FOR BUSINESS OWNERS IN ETHIOPIA Private Equity (PE) is fast becoming an important source of finance for small and medium sized businesses
More informationThe Community Rating System in Coastal New England: Regional Approaches and Lessons Learned
Session 4: Flood Insurance and the Community Rating System The Community Rating System in Coastal New England: Regional Approaches and Lessons Learned Abbie Sherwin - Maine Coastal Program Julie LaBranche
More informationChoosing a Financial Pro. Student Money Management Center
Choosing a Financial Pro Student Money Management Center Meet The Speakers Theresa Ibarra University of Illinois College of Medicine Financial Aid Office Andrea Pellegrini USFSCO Student Money Management
More informationAutomotive transactions and trends 1H16
Automotive transactions and trends 1H16 Global automotive mergers and acquisitions review Produced by Global Markets EY Knowledge Contents Executive summary 01 Analysis by deal sizes Cross-border deals
More informationThe Implementation of Accrual Accounting in the Public Sector New Zealand's Experience
The Implementation of Accrual Accounting in the Public Sector New Zealand's Experience Mark Hucklesby National Technical Director Grant Thornton New Zealand Session outline Putting accrual accounting for
More informationWEALTH MANAGEMENT AND INVESTMENT ADVISORS
Portfolio Strategies Our investment strategies are built specifically to match your financial plan. Starting with your goals, cash flow needs and time-horizon, we create a customized portfolio that seeks
More informationENTERPRISE RISK MANAGEMENT (ERM) POLICY
ENTERPRISE RISK MANAGEMENT (ERM) POLICY November 2014 TABLE OF CONTENTS I. INTRODUCTION.... 3 A. Purpose... 3 B. Scope. 3 C. Enterprise Risk Management Vision 3 D. ERM Goals and Objectives. 4 II. RISK
More informationFinancial Statements and Report of Independent Certified Public Accountants
Financial Statements and Report of Independent Certified Public Accountants Archdiocese of Philadelphia Cemetery Permanent Lot Care Fund Irrevocable Trust Contents Page Report of Independent Certified
More informationChallenges Faced by Wealthy, Multi- Generational Family Real Estate Enterprises
Challenges Faced by Wealthy, Multi- Generational Family Real Estate Enterprises Mark B. Rubin * Families who have created wealth over time through real estate development and ownership have even greater
More informationSwap Dealer Examinations Overview
Swap Dealer Examinations Overview General Information Program background o Swap dealer regulatory program covers both U.S. and non-u.s. swap dealers o NFA Members are required to comply with NFA Rules
More informationOn the Horizon for IFRS
February 10, 2015 On the Horizon for IFRS IFRIC meeting January 2015 Meeting highlights IASB issues January 2015 IFRIC meeting highlights The IFRS Interpretations Committee (IFRIC or the Committee) has
More informationNew Developments Summary
April 12, 2016 NDS 2016-06 New Developments Summary Share-based payments guidance simplified Targeted amendments in ASU 2016-09 eliminate unnecessary complexity Summary The FASB recently issued ASU 2016-09,
More informationDISCLAIMERS PROPOSED SPEAKERS. Strategies for Successful Succession Planning
Strategies for Successful Succession Planning March 29, 2012 1 DISCLAIMERS The material appearing in this presentation is for informational purposes only and is not legal, accounting or investment advice.
More informationHow Private Equities Create Value. LBOs, Expansion deals and the future of PEs - Trends
How Private Equities Create Value LBOs, Expansion deals and the future of PEs - Trends 1 Contents - Introduction to Value Creation in PEs - LBOs - Operating Leverage - Financial Leverage - Recent trends
More informationGLOBAL PAYMENTS PRIORITY ASIA
September 16, 2009 GLOBAL PAYMENTS PRIORITY ASIA Abdul Raof Latiff Managing Director Head of Clearing and Foreign Exchange Asia Pacific JPMorgan Chase & Co. All Rights Reserved. JPMorgan Chase Bank, N.A.
More informationTHIRD QUARTER 2016 EARNINGS CALL //// NOVEMBER 4, 2016
SEATING FINISHING ACOUSTICS COMPONENTS THIRD QUARTER 2016 EARNINGS CALL //// NOVEMBER 4, 2016 Jeffry Quinn, Chairman & Chief Executive Officer Sarah Lauber, Senior Vice President & Chief Financial Officer
More informationFinancial Statements and Report of Independent Certified Public Accountants. International Research & Exchanges Board, Inc. June 30, 2016 and 2015
Financial Statements and Report of Independent Certified Public Accountants International Research & Exchanges Board, Inc. Contents Report of Independent Certified Public Accountants 3 4 Financial Statements
More informationOn the Horizon for IFRS
April 15, 2015 On the Horizon for IFRS IFRIC meeting March 2015 Meeting highlights IASB issues March 2015 IFRIC meeting highlights The IFRS Interpretations Committee (IFRIC or the Committee) has issued
More informationDIVERSIFICATION AND THE PRIVATELY HELD BUSINESS
DIVERSIFICATION AND THE PRIVATELY HELD BUSINESS STRATEGIC CONSIDERATIONS FOR A HIGHLY CONCENTRATED ASSET CLASS For many of the world s most successful entrepreneurs, the creation of significant wealth
More informationExpense recognition of nonemployee awards with graded vesting
On the Horizon March 2, 2017 Contents Current reporting issue... 1 Expense recognition of nonemployee awards with graded vesting... 1 FASB... 3 ASU 2017-05 clarifies nonfinancial asset derecognition guidance...
More information