New York, NY, March 15, 2008 --(PR.com
)-- The Knowledge Congress, the leading producer of regulatory focused teleconferences has announced today that Dan Gary, Partner with KPMG will speak at the Knowledge Congress’ upcoming teleconference entitled: “Understanding FAS 141(R) and FAS 160”. This 2-hour event is scheduled for April 30, 2008, Wednesday, from 1:00 PM - 3:00 PM EDT. (For further details of the event and an updated list of panelists, please visit: http://knowledgecongress.org/event_2008_FAS.html)
Starting December 15, 2008, FASB Statements No. 141 (Business Combinations), and No. 160 (Non-controlling Interests in Consolidated Financial Statement) will take into effect. These statements are designed to implement new methods that will affect financial reporting and accounting concepts of business combinations. As a result, transactions using financial statements under 141 (R) will be more significant, parallel, and complete. On the other hand, Statement 160 will regard as equity transactions those entered between an entity and non-controlling interests. Companies should have a comprehensive understanding of these statements as they launch new concepts that might affect significant transactions.
The Knowledge Congress is producing a two-hour teleconference with an accompanying webinar that will discuss the complexities and significant concepts embodied in these statements. The event will feature speakers who are regarded as experts in the field of accounting and finance, including regulators.
About Dan Gary
Dan has nearly 15 years of experience with accounting for valuation events such as acquisitions, joint ventures and bankruptcy emergence. He is assisting Delphi Automotive with impairment testing and fresh start reporting for emergence from bankruptcy, which entails purchase accounting for intangible assets that were not previously valued or recorded and an allocation of reorganization value of nearly $20 billion. Certain of Dan’s prior engagements involved (i) pro forma presentation and purchase accounting for the acquisition of Freescale Semiconductor by a private equity consortium led by The Blackstone Group ($18 billion), (ii) SEC filings related to Covanta Energy’s acquisition of American Ref-Fuel ($2 billion), and (iii) analysis of over 30 acquisitions in conjunction with MCI/WorldCom’s restatement and emergence from bankruptcy. Dan is a frequent speaker on accounting topics related to valuation events and has been published in several recent pieces, including:
- “Accounting for Deals” by Dan Gary, The Deal (December 6, 2007)
- “Just Like Starting Over” by Dan Gary & Brian Heckler, The Deal (November
- Quoted in “New Accounting for M&A Deals” by Tammy Whitehouse,
Compliance Week (January 29, 2008)
- Author of chapters on revised accounting for acquisitions for Bureau of
National Affairs (release in Spring 2008)
- America Online, American Water Works, Bi-Lo, BP, Covanta Energy, Delphi Automotive, Electro-Motive Diesel, Freescale Semiconductor, MCI/WorldCom, Motorola, Orbitz, Philips Electronics, Siemens, Thomson Learning
About KPMG, LLP
KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 148 countries and has more than 113,000 professionals working in member firms around the world.
Its purpose is to turn knowledge into value for the benefit of its clients, people, and the capital markets. KPMG's member firms aim to provide clients with a globally consistent set of multidisciplinary financial and accounting services, based on deep industry knowledge.
KPMG plays an important role in the capital markets, and are highly active in supporting positive reform within its industry to strengthen credibility and confidence. They believe corporate social responsibility is at the heart of all great organizations, and are committed to making a real difference to the communities in which it operates.
For more information about Dan Gary and KPMG, LLP, please visit: http://www.kpmg.com
About The Knowledge Congress
The Knowledge Congress is an organization that produces teleconferences that examine regulatory changes across a variety of industries. “We bring together the world's leading authorities and industry participants through informative two-hour teleconferences to study the impact of changing regulations.” To contact or to register to an event, please visit: www.knowledgecongress.org.