Rick LaNeve, CPA

📢 MCA notifies key changes to Ind AS 21, effective April 1, 2025. Now includes guidance on: • Assessing currency exchangeability • Estimating spot rates when not exchangeable • Enhanced disclosures for better transparency A crucial update for entities with foreign operations. #KKC #IndAS21 #MCA #AccountingStandards kkc & associates llp CA. Kamlesh Vikamsey Nilesh S Vikamsey Ketan Vikamsey Hasmukh Dedhia Dharini Shah Gautam Shah Kamlesh Jagetia Vinit Jain Divesh Shah Soorej Kombath Devang Doshi CA Bharat Jain Hitesh Navsariwala Praveen Daga Darshan Shah Sanjay Gandhi Tejas Parikh

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The House Financial Services Committee is considering draft legislation that would transfer the responsibilities of the Public Company Accounting Oversight Board to the Securities and Exchange Commission. The bill would also end the accounting support fees that public companies and broker-dealers pay to fund the PCAOB.

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The accounting profession is undergoing rapid change driven by technology, consolidation, and shifting workforce trends. In this article featured in the latest issue of New Jersey Society of CPAs magazine, Ben Aspir, CPA, talks about how firms can navigate these shifts and position themselves for long-term growth. Read the full piece here: https://okt.to/HTRsI7 #AccountingFuture #CPAEvolution #FinanceLeadership

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PRIVATE EQUITY FUND ACCOUNTING - Very Niche segment for CA and Finance Professionals Private Equity Fund Accounting is a specialized area of finance that focuses on managing the financial records of private equity funds. Unlike traditional corporate accounting, which deals with a single entity, private equity fund accounting involves tracking pooled investments from multiple investors, including capital contributions, distributions, and portfolio performance. Key financial statements used in private equity fund accounting include the Statement of Assets and Liabilities, the Statement of Operations, and the Statement of Cash Flows. These statements provide insights into the fund’s financial health, performance, and liquidity. The life cycle of a private equity fund spans approximately 10 years and includes fundraising, investment, value creation, and exit phases. Capital calls and distributions are fundamental to private equity. Capital calls are requests for investors to provide committed capital, while distributions return profits to investors. The distinctions between committed capital, called capital, and invested capital are crucial for evaluating fund performance. Important performance metrics include Internal Rate of Return (IRR) and Multiple on Invested Capital (MOIC), which assess investment profitability. Management fees compensate fund managers for operations, while carried interest is performance-based profit sharing. Waterfall distribution structures determine how profits are allocated among investors and managers, ensuring fairness. Unrealized gains and losses impact financial statements but are not realized until assets are sold. Regulatory compliance, valuation methods, and fund expense allocation play a crucial role in maintaining transparency. Limited Partners (LPs) provide capital with limited liability, while General Partners (GPs) manage investments. Net Asset Value (NAV) calculations, foreign exchange risks, and fund consolidation require careful accounting treatment. Investor reporting, cash flow management, and audits are essential for accountability. Fund administrators assist in bookkeeping and compliance. Understanding subscription documents and Limited Partnership Agreements (LPAs) ensures proper governance. In summary, private equity fund accounting is complex, requiring meticulous financial oversight and strategic management. You can watch the video to rock the interview - https://lnkd.in/etdrCkfA

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SEC Chairman Paul Atkins recently called for a comprehensive review of the Consolidated Audit Trail (CAT). SIFMA supports a full public review and believes now is the time to modernize the system. In our latest blog post, SIFMA's Joe Corcoran and Gerald O'Hara outline key recommendations to: ✔️ Reduce costs ✔️ Streamline reporting ✔️ Strengthen data security 📖Read the full blog here: https://bit.ly/45odIVQ

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The One Big Beautiful Bill Act (OBBBA) brings a major shift for businesses investing in U.S.-based research, including immediate expensing restored for domestic R&E costs starting in 2025, reversing a key TCJA provision. These changes may impact tax planning, estimated payments, and compliance for 2025 and beyond. Check out our full alert for the details, timelines, and planning opportunities:  https://lnkd.in/gRghUVaV

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