Charles Chubb to Speak at Knowledge Congress’ Live Webcast on FAS 141R Understanding Fair Value for Business Combinations
New York, NY, October 13, 2009 –(PR.com)– The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts announced today that Charles Chubb, Managing Director, WTAS LLC will speak at The Knowledge Congress’ upcoming webcast entitled: “FAS 141R Understanding Fair Value for Business Combinations”. This two-hour event is scheduled on Wednesday, December 2, 2009, at 12:00 PM – 2:00 PM ET. (For further details of the event and an updated list of panelists, please visit: http://www.knowledgecongress.org/event_2009_FAS_141R.html)
FASB Statement No. 141R will bring about sweeping changes to business combinations that close on or after January 1, 2009. However, as the market begins to thaw, the financial meltdown led to a drastic reduction of and delays in M&A transactions this year, and we see this activity picking up sharply. As a result, these transactions will fall likely under the new FAS 141R, which is a principle-based standard. The new guidance will transition the measuring of the value of purchased assets and liabilities from the cost allocation approach of the past to a fair value approach. FAS 141R also significantly changes: expensing transaction costs & accounting for: contingent considerations, R&D, income tax, and bargain purchases. Thus, the potential impact of FAS 141R on M&A activities is significant.
In anticipation of increased M&A activity next year, companies, valuation experts, accounting and legal experts must have a complete understanding of what FAS 141R and its impact on the business combination transactions. Our panel of key thought leaders and experts will conduct a thorough panel of the most critical issues which will be followed by a Q&A session in which the audience will be invited to ask the speakers questions live.
About Charles Chubb
Chuck Chubb has over 30 years of experience in advising a broad range of clients on federal, international and state and local tax matters. Before joining WTAS, he was a Tax Partner in two international professional services firms.
Chuck is WTAS’ firm-wide practice leader on Accounting for Income Taxes (FAS 109 / FIN 48), including US, non-US, and state and local income taxes. He has extensive experience in:
- Preparation or review of tax-accrual workpapers supporting computations of income tax provisions in company financial statements
- Tax accounting for special situations, including mergers and acquisitions and foreign operations
- Determination of level of sustainability of uncertain tax positions (FIN 48)
- Drafting or reviewing footnote disclosures of tax matters in company financial statements
- Evaluation and documentation of valuation allowances
- Income tax accounting in fresh-start accounting cases
- Consultation on FAS 109 / FIN 48 software
Chuck’s clients span numerous industries, including retail, manufacturing, communications and financial services.
Chuck has been an instructor on taxation at several Tax Executive Institute training sessions.